RubinBrown Partner, Tim Anderson, was quoted in Affordable Housing Finance discussing recent IRS guidance that private-activity bonds can be used for veteran housing and others.
The IRS has recently clarified that tax-exempt private-activity bonds can be used to finance affordable housing developments for veterans as well as other populations.
This clarification was necessary after IRS officials noted that such housing was potentially a violation of public-use requirements in bond regulations last year.
Anderson was quoted saying, “Many people in the industry were asking for this ruling to help link Sec. 142 with Sec. 42 on this issue. This guidance says yes, you can build homes for veterans and qualify for the credit and still take advantage of tax-exempt bond financing that’s available.”
Read the full article in Affordable Housing Finance.
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