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Tax Credits Legislative Agendas

Conn Kavanaugh

Affordable Homes Act Significantly Increases Homestead Exemption

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On August 6, 2024, Governor Maura Healy signed the Affordable Homes Act (the Act”), legislation whose purpose is to address rising housing costs within the Commonwealth by implementing public investment, changes to zoning...more

Womble Bond Dickinson

Can Republicans Repeal the Inflation Reduction Act (IRA)?

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With less than two weeks to go until the historic 2024 election, we take a closer look at the Inflation Reduction Act (IRA) and consider its possible fate following the high stakes 2024 Presidential Election. ...more

Foley Hoag LLP - Energy & Climate Counsel

Hydrogen Tax Credit Guidance to Be Finalized by Year’s End; Department of Energy Opens Emissions Value Request Process for Clean...

After months of waiting to see how federal regulators might advance clean hydrogen tax policy in the runup to and following the November election, we are finally getting some news: Several outlets are reporting that the...more

Fisher Phillips

How Will the Election and Recent Legislative Trends Impact Tipped Wages? 4 Developments for Hospitality Employers to Watch

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There’s been a lot of buzz about tipped wages as Election Day approaches – and hospitality employers will want to track key proposals that may have a huge impact on pay practices. Former President Trump and Vice President...more

Bradley Arant Boult Cummings LLP

Tipped Out? 5th Circuit Negates DOL Tip Credit Rule

How the FLSA “tip credit” is applied has been pushed and pulled numerous times over the last two decades. In the latest volley, the Fifth Circuit entered an order on August 23, 2024, vacating the Department of Labor’s 2021...more

Butler Snow LLP

Governor Abbot Announces Over $95 Million In Housing Tax Credits

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In July 2024, Governor Greg Abbott announced that the Texas Department of Housing and Community Affairs (TDHCA) awarded over $95 million in housing tax credits to help finance the development and rehabilitation of more than...more

Sullivan & Worcester

Housing Bill Becomes Law, But It’s Not Just About Housing

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On Tuesday, August 6th, Governor Healey signed into law House Bill 4977, “An Act relative to the Affordable Homes Act.” The 181-page Bill provides for $5.1 billion in capital funding to support housing production and...more

Cozen O'Connor

Cozen Currents: Is Harris the Answer?

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The Cozen Lens - While it’s becoming ever clearer Vice President Harris is likely to be the Democratic nominee following President Biden’s decision to step aside, it’s less clear what the impact will be on the presidential...more

Woods Rogers

State and Local Tax Law Changes in Effect in 2024

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The Virginia Department of Taxation released its 2024 legislative summary detailing changes, effective July 1, 2024, to Virginia’s state and local tax laws. The following discussion focuses on a few of the changes you may...more

Eversheds Sutherland (US) LLP

California Legislature drops the other shoe, kicking taxpayers right in the apportionment formula

California legislators released bill language addressing Governor Gavin Newsom’s “May Revise” to the state budget that includes the Governor’s so-called “apportionment fix.” If enacted, Assembly Bill 167 and Senate Bill 167...more

Eversheds Sutherland (US) LLP

California Governor “May Revise” taxpayer apportionment win

On May 10, California Governor Gavin Newsom introduced his “May Revise” of the state budget. In addition to net operating loss deduction suspensions and tax credit usage limitations, one particularly concerning corporate...more

Maynard Nexsen

2024 Alabama Legislative Update: Regular Session - Sine Die

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Budgets - The $3.4 billion General Fund Budget and supplemental appropriations, the mechanism for funding non-education-related expenses, have been sent to the Governor for her signature....more

Maynard Nexsen

2024 Alabama Legislative Update: Regular Session - Week Eleven

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Gaming - This week, a conference committee produced compromise legislation after the House and Senate passed different versions of gaming legislation. The Alabama House of Representatives advanced this compromise...more

Maynard Nexsen

2024 Alabama Legislative Update: Regular Session - Week Nine

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On Tuesday, the House passed the $9.3 billion 2025 Education Trust Fund (ETF) Budget and two supplemental ETF appropriations. As mentioned in previous legislative updates, the ETF is the state’s mechanism for...more

Allen Barron, Inc.

The Sunset of the TCJA – Tax Cuts and Jobs Act of 2017 – Is Scheduled for the End of 2025

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The sunset of the TCJA – the Tax Cuts and Jobs Act of 2017, is currently scheduled for the end of 2025.  The TCJA contributed substantial changes to the US tax code that have benefited many US taxpayers.  How should a US...more

Maynard Nexsen

2024 Alabama Legislative Update: Regular Session - Week Seven

Maynard Nexsen on

Budgets - On Wednesday, the Senate Finance and Taxation General Fund Committee gave a favorable report to a committee substitute of the $3.3 billion 2025 General Fund Budget and supplemental budget. Some changes were made...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - Legislative Day 40 - March 2024

Legislative Day 40 is a roller coaster, full of ups, downs, and zero gravity turns (also known as conference committee reports). One goes from celebrating a bill achieving final passage to lamenting a measure being gutted...more

Skadden, Arps, Slate, Meagher & Flom LLP

State of Play on US Tax Proposals

A House bill adopted in January 2024, H.R. 7024 (the Bill), would extend some business-friendly tax provisions of the Tax Cuts and Jobs Act of 2017 (TCJA) that were being, or have already been, phased out. Titled the “Tax...more

Maynard Nexsen

2024 Alabama Legislative Update: Regular Session - Week Six

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Workforce Participation Package - Working Alabama - This week, Governor Ivey, Lieutenant Governor Ainsworth, leadership in both the House and Senate, and business community leaders announced a bill package coined the...more

Foley Hoag LLP - Energy & Climate Counsel

What Companies and Investors Need to Know about California Assembly Bill 1305, The Voluntary Market Disclosures Business...

On October 7, 2023, California Governor Gavin Newsom signed Assembly Bill 1305 into law, also known as the “Voluntary Market Disclosures Business Regulation Act,” or AB 1305. This law marks the first of its kind in the...more

Nelson Mullins Riley & Scarborough LLP

Gold Dome Report - Legislative Day 28 - March 2024

Thursday carried several distinctions under the Gold Dome. It was Leap Day, the quadrennial opportunity to celebrate those born on Feb. 29. It was Crossover Day, the day we all have to explain to our significant others each...more

Foley Hoag LLP - Energy & Climate Counsel

DPU Issues Long-Anticipated Net Metering Ruling

On February 15, 2024, the Massachusetts Department of Public Utilities (“DPU”) issued a much-anticipated order in docket D.P.U. 21-100 that finally promulgates regulations (220 CMR 18.00) to implement 2021 statutory changes...more

Bradley Arant Boult Cummings LLP

Important Business Tax Legislation to Watch in the 2024 Alabama Regular Session

As we strive to do annually, here is a summary of the major items of business tax legislation that have been introduced or we expect to be introduced during the 2024 regular session, which began February 6. From a tax and...more

Alston & Bird

Look Ahead to the Week of February 5: Moment of Truth for Border Deal

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Look Ahead to the Week of February 5: Moment of Truth for Border Deal - Both the Senate and House are in session this week, although the lower chamber will wrap up votes early as House Democrats depart Wednesday for their...more

Alston & Bird

Look Ahead to the Week of January 22: Senate Focuses on National Security Supplemental

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Look Ahead to the Week of January 22: Senate Focuses on National Security Supplemental The Senate is in session this week, but the House is out. Last week, President Biden signed an additional temporary spending bill to...more

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