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New 50(d) guidance

The Internal Revenue Service (IRS) has recently issued temporary regulations with respect to income inclusion rules under Section 50(d) of the Internal Revenue Code (the Code). Guidance on Section 50(d) has been anticipated primarily in the historic tax credit (HTC) arena, due to its implications for the pass-through of tax credits under a master tenant structure.

Proposed Extension of New Markets Tax Credit

Despite increased optimism in Congress’s ability to pass this year an extenders bill which would make certain temporary tax provisions permanent, House Ways and Means Committee Chairman Kevin Brady, R-Texas, has prepared a two-year “fallback” bill. The proposed bill contains provisions pertaining to both the low-income housing tax credit (LIHTC) and new markets tax credit (NMTC).

How to Remove a General Partner from a Real Estate Partnership

Default is an unfortunate reality in any partnership.  Though no one enters a partnership expecting the other party to default on its obligations, it poses a risk that must be properly addressed to mitigate the limited partner’s risk before the partnership is ever established.  This article will address the rights and remedies available to the limited partner when the general partner has failed to live up to its commitments, and the procedures that should be followed in obtaining relief.

Missouri LIHTC Update: MHDC Weighs Domestic Violence and LIHTC Concentration Proposals

Recently, Missouri Treasurer Clint Zweifel urged the MHDC to use its LIHTC allocation to help combat affordable housing issues that are exacerbated among victims of domestic violence.

Missouri is Utilizing Historic Tax Credits to Revitalize Downtown Kansas City

Over the last fifteen years, you may have observed significant construction and rehabilitation of commercial and residential real estate in downtown Kansas City. To finance many of these projects, developers utilize both Federal and Missouri Historic Tax Credits (HTCs).

Promoting LIHTC Allocation Beyond Traditional Low-Income Areas: MHDC Proposal and Supreme Court Case Potentially at Odds

While the Missouri Housing Development Commission (“MHDC”) considers a proposal to encourage LIHTC allocations away from areas with high concentrations of low-income housing, the Supreme Court of the United States is considering depriving plaintiffs an important tool used for enforcement of the Fair Housing Act—which may have the effect of discouraging allocating agencies from diminishing high concentrations of low-income housing.

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