The Buzz: CRA changes remove two obstacles to bank LIHTC investment, other problems remain
Date Published: 04/03/2009
Author: Buzz Roberts, LISC Senior Vice President for Policy
from the April 2009 issue of Novogradac Journal of Tax Credit Housing.
The four federal banking regulators—the Federal Reserve Board (FRB), Office of the Comptroller of theCurrency (OCC), Federal Deposit Insurance Corporation (FDIC) and Office of Thrift Supervision (OTS)—recently revised proposals that would have further complicated bank investing based on low-income housing tax credits (LIHTCs). Unfortunately, the agencies did not address other obstacles to attracting the regional and large local banks that could help fill the LIHTC investment gap.
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This article first appeared in the April 2009 issue of the Novogradac Journal of Tax Credit Housing and is reproduced here with
the permission of Novogradac & Company LLP.
© Novogradac & Company LLP 2009 - All Rights Reserved.
Notice pursuant to IRS regulations: Any U.S. federal tax advice contained in this article is not intended to be used, and cannot
be used, by any taxpayer for the purpose of avoiding penalties under the Internal Revenue Code; nor is any such advice
intended to be used to support the promotion or marketing of a transaction. Any advice expressed in this article is limited to
the federal tax issues addressed in it. Additional issues may exist outside the limited scope of any advice provided – any such
advice does not consider or provide a conclusion with respect to any additional issues. Taxpayers contemplating undertaking
a transaction should seek advice based on their particular circumstances.
This editorial material is for informational purposes only and should not be construed otherwise. Advice and interpretation
regarding property compliance or any other material covered in this article can only be obtained from your tax advisor. For
further information visit www.taxcredithousing.com.
Topics: Housing, Policy
Type: Trade Article