Novogradac LIHTC 101: The Basics 2023 | Novogradac & Company LLP | 19 July 2023 | Webinar
Venue
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| Event Date |
Thu Jul 20 UTC (over 1 year ago)
In your timezone (EST): Wed Jul 19 8:00pm - Wed Jul 19 8:00pm |
| Location | Webinar |
| Region | All |
Details
Topics Covered
• Intro to Internal Revenue Code (IRC) Section 42 and LIHTCs
• Example tax credit calculation
• The 9% tax credit floor and the floating 70% present value rate
• The 9%, competitive tax credit pool and states’ QAPs
• The tax credit application
• Credit reservation
• Carryover allocation and the 10% test
• Typical LIHTC partnership structure: investor, syndicator, developer, fund, operating partnership
• Investor equity contributions and credit pricing
• Construction completion, certificates of occupancy, lease up, placed-in-service package, Forms 8609
• Nuances of “acq/rehab” deals and claiming tax credits
• Program rules: “20 at 50”, “40 at 60” and average income minimum set-asides, income limits, rent limits
• Earning and claiming tax credits
• 10-year credit period, 15-year compliance period
• Noncompliance and credit recapture
Speakers
2023 Speakers
Wayne Michael
Principal, Novogradac
Karie McMillen
Principal, Novogradac