On April 20, 2024, after months of negotiations, the New York State Legislature enacted the state’s 2024-2025 Budget (Budget). The Budget represents the most significant state action on housing in several budget cycles and...more
On April 19, Governor Andrew Cuomo signed into law the New York Budget Bill for the 2021-2022 state fiscal year (Senate Bill S2509C) (the New Budget Bill). The New Budget Bill contains a major change to the liability...more
As part of the US federal tax reform in 2017, Congress enacted sections 1400Z-1 and 1400Z-2 of the Internal Revenue Code of 1986, as amended (the "Code"), to provide incentives economic growth and investment in designated...more
4/24/2019
/ Anti-Abuse Rule ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Investors ,
IRS ,
Opportunity Zones ,
Partnerships ,
Proposed Regulation ,
Qualified Opportunity Funds ,
Real Estate Transactions ,
S-Corporation ,
Safe Harbors ,
Tangible Property ,
U.S. Treasury
On October 19, the Internal Revenue Service (IRS) and US Department of the Treasury released the first set of proposed regulations under Internal Revenue Code Subchapter Z—Opportunity Zones (Proposed Regulations). On the same...more
10/23/2018
/ Capital Gains ,
Community Development ,
Economic Development ,
Income Taxes ,
Internal Revenue Code (IRC) ,
Investment Funds ,
IRS ,
Opportunity Zones ,
Proposed Regulation ,
Qualified Opportunity Funds ,
Real Estate Development ,
Real Estate Investments ,
Tax Planning ,
U.S. Treasury
The 2016 Election has created more questions than answers for the affordable housing industry. Very little is known about President-elect Trump's vision for affordable housing. On one hand, Mr. Trump has described himself as...more
On February 29, the US Supreme Court denied certiorari in California Building Industry Association v. City of San Jose, 61 Cal. 4th 435 (2015), and leaves standing a unanimous decision by the California Supreme Court...more
There are several recent developments in California and in the Los Angeles region affecting the funding of urban redevelopment and the creation of affordable housing. First, the California Legislature passed, and Governor...more
On June 25, the US Supreme Court upheld a decision that the Fair Housing Act ("Act") includes disparate impact claims. In Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc., the Supreme...more