Newly Signed Small Business Act Provides Some Benefits Regarding Credits

By Caitlin Jones
November 8, 2010 1 min read

Tax Credit Advisor — November 2010 — The Small Business Jobs Act of 2010 (H.R. 5297, P.L. 111-240) signed into law by President Obama on September 27 provides some minor benefits regarding tax credits and real estate. Congress recessed without taking final action on tax “extenders” legislation. Affordable housing and community development advocates hope lawmakers will pass this in the lame-duck session that begins in mid-November, particularly provisions to extend the low-income housing tax credit (LIHTC) Section 1602 exchange program and to reauthorize the new markets tax credit program. Reacting to the Small Business Jobs Act, CPA Marianne Heard, of Kevin P. Martin & Associates, P.C., Braintree, Mass., said, “We deal a lot with [LIHTC syndicators], and a lot of our developers are nonprofits. For us, there are some provisions that are helpful, but not as helpful as we had hoped”¦My clients would really like the exchange program to continue for another year.” The Act modestly expands the ability of small businesses to utilize federal general business tax credits. There are many of these, including low-income housing, historic rehabilitation, and new markets tax credits. Read More…

Breaking Ground

Jennifer Leimaile Ho, Minnesota Housing Commissioner and Incoming Chair of National Council of State Housing Agencies

Pamela Martineau • December 1, 2024 10 min read

Earlier this fall, Jennifer Leimaile Ho was elected chair of the National Council of State Housing Agencies’ (NCSHA) 2025 Board of Directors. Ho is the Commissioner of Minnesota Housing, having been appointed by Governor Tim Walz in January 2019 and reappointed in 2023.

“Business as Usual”

Leaders in Equity Express Optimism Despite an Uncertain Future

Abram Mamet • December 1, 2024 9 min read

Any outside observer may assume some unease amongst the low-income housing industry. Buffeted on the one hand by residual stressors from the COVID-19 pandemic and on the other by the uncertain prospects of an incoming federal administration keen on cutting spending and shrinking government programs, the affordable housing landscape is experiencing an inflection point.

NCSHA Recognizes Stand-Out Affordable Housing Programs and Initiatives

Pamela Martineau • December 1, 2024 7 min read

This fall, the National Council of State Housing Agencies (NCSHA) recognized 17 programs offered by state housing finance agencies across the nation that creatively developed tools to tackle their communities’ affordable housing challenges.