SAN FRANCISCO (PRWEB) May 23, 2017
By any measure, the New Markets Tax Credit (NMTC) program is a success.
Since its inception in 2000, the NMTC has raised more than $42.8 billion in qualified low-income community investments (QLICIs) and is one of few initiatives to have earned consistent bipartisan and bicameral support in Washington. Yet the NMTC is only authorized through 2019 and faces an uncertain future during tax reform as lawmakers negotiate which provisions to keep in the tax code and which provisions to eliminate or modify.
The prospects of the NMTC in tax reform and strategies for industry participants to make smart decisions amid legislative uncertainty will be discussed at the Novogradac 2017 New Markets Tax Credit Spring Conference in Washington, D.C., June 8-9, at the Hyatt Regency Washington on Capitol Hill.
A keynote address will be given by Rep. Pat Tiberi, R-Ohio, a member of the House Ways and Means Committee and sponsor of the New Markets Tax Credit Extension Act of 2017, which would make several enhancements to the NMTC program, most notably, make it a permanent part of the tax code.
The second day of the conference will begin with an address by Annie Donovan, director of the Community Development Financial Institutions (CDFI) Fund. The CDFI Fund’s NMTC program manager, Bob Ibanez, will be among the Treasury Department experts at the conference who will discuss the latest information on program guidance, regulations, reporting requirements and the 2017 NMTC allocation round.
“Novogradac conferences bring everyone to the table, from the legislators who authorize community development programs and the administrators who oversee them, to the key participants who work with these programs every day to bring investments to underserved communities,” said Nicolo Pinoli, CPA, conference chairman and partner in Novogradac & Company LLP’s Portland, Ore., office. “I think that’s a great reason why our attendees come back year after year: There’s always something new and exciting to learn and Novogradac events are fantastic opportunities to network and exchange ideas.”
The Novogradac 2017 New Markets Tax Credit Spring Conference is co-hosted by Bank of America Merrill Lynch, Capital One, Chase, Dentons, Husch Blackwell, Nixon Peabody, Squire Patton Boggs and U.S. Bancorp Community Development Corporation. Sponsors and exhibitors include Blank Rome LLP, Bryan Cave LLP, Citi Community Capital, Enterprise, Future Unlimited Law PC, Lathrop & Gage LLP, Mannatt Phelps & Phillips LLP, PNC Bank, Stinson Leonard Street, Strategic Development Solutions, Duff & Phelps LLC, Smith NMTC Associates, Perkins Coie LLP, Twain Financial Partners, Kutak Rock LLP, SunTrust Community Capital, Greenline Ventures, Barnes & Thornburg LLP, Dudley Ventures, National Trust Community Investment Corporation, Ariel Ventures and The Innovate Fund.
Conference details and the complete conference agenda can be found at
In addition, two pre-conference workshops will be available June 7, NMTC 101: The Basics and NMTC 201: NMTC Compliance. Separate registration and fees apply.
About Novogradac & Company
Novogradac began operations in 1989 and has since grown to more than 600 employees and partners with offices in San Francisco, San Rafael, Walnut Creek and Long Beach, Calif.; Dover, Columbus and Cleveland, Ohio; St. Louis; Boston; New York; Chicago; Austin and Dallas, Texas; Portland, Ore.; Naples, Fla., Raleigh, N.C.; Toms River and Iselin, N.J.; and the greater metropolitan areas of Philadelphia; Washington, D.C.; Atlanta; Detroit; Kansas City, Mo.; and Seattle.
Specialty practice areas include tax, audit and consulting services for tax-credit-assisted affordable housing, community revitalization, rehabilitation of historic properties and renewable energy. Other areas of expertise include business valuation, preparation and analysis of market studies and appraisals of multifamily housing investments and renewable energy tax credits.