Klein Hornig LLP has released the 2018/19 edition of their LIHTC outline:
"After tax reform, the LIHTC was arguably strengthened, despite the impact of the decreased corporate tax rate on the value of credits. With apparent bipartisan support for the Credit, allocation amounts were increased, and the market seems generally strong. It might not be farfetched to call the Credit a permanent feature of our tax law. In addition, tax reform added a new minimum set-aside, income averaging, a potentially useful tool for certain projects, despite the current uncertainty surrounding its precise mechanics. We, along with the rest of the industry, are hoping for IRS guidance that will transform income averaging into a true peer of the other set-asides. Other aspects of tax reform also impacted the LIHTC industry. For example, the limitation on deductions of business interest expense (with the exception for an electing real property trade or business) and temporary 100% bonus depreciation. We have also seen substantial guidance related to the new partnership audit regime. As always, comments and suggestions are welcome."
Please use this link to view a PDF of the outline.