Leveraging New Markets Tax Credits to Finance Community Development: Latest Regs, Guidance and Legal Developments
Twinning With Historic Tax Credits, Allocating COD Income to Partners, Using EB-5 Funds and More
Recording of a 90-minute CLE/CPE webinar with Q&A
This CLE webinar will provide counsel with an overview of the New Market Tax Credit (NMTC) program and IRS regulations and guidance. The panel will discuss best practices for structuring NMTC deals, twinning with historic tax credits (HTCs) and other tax credit programs, allocating COD income among partners, and using EB-5 funds in the NMTC structure.
- Structuring an NMTC deal
- Historic tax credit safe harbor
- Using EB-5 funds in the NMTC structure
- Allocation of costs in an unwind
- Drafting operating agreements to cover allocation of COD income among partners
- Restructurings/workouts during the seven-year compliance period; recapture risk
- Legislative developments
The panel will review these and other key issues:
- What are best practices for structuring NMTC deals to ensure compliance with IRS program requirements?
- What roles can nonprofit 501(c)(3) organizations play in NMTC deals, and what issues should they consider before entering into these transactions?
- What is the potential impact on the use of NMTCs of the IRS safe harbor for partnerships claiming rehabilitation tax credits?
- How are NMTC deals impacted by cancellation of indebtedness?
James O. Lang
Mr. Lang focuses his tax and corporate project finance practice on tax credit incentive programs and related state and... | Read More
Mr. Lang focuses his tax and corporate project finance practice on tax credit incentive programs and related state and federal incentive programs. He represents investors, lenders, community development entities, and for-profit and nonprofit projects in complex transactions where capital stacks require enhancement through incentive financing, including state and federal new markets tax credits, affordable housing and low-income housing tax credits, historic rehabilitation tax credits, renewable energy tax credits, and film and entertainment tax credits.Close
C. Randall Minor
Maynard Cooper & Gale
Mr. Minor is Co-Chair of the firm's Banking and Finance Practice. He focuses on the representation of governmental... | Read More
Mr. Minor is Co-Chair of the firm's Banking and Finance Practice. He focuses on the representation of governmental and nonprofit entities in connection with the issuance of taxable and tax-exempt bonds, notes, warrants and other debt instruments. He also represents lenders and borrowers in a variety of commercial real estate transactions and tax credit finance transactions, including low-income housing tax credits, new markets tax credits and historic tax credits. Additionally, Mr. Minor has extensive experience representing developers and sponsors in a variety of land use and zoning matters.Close