Search Results
Journal Article
Are state R&D tax credits constitutional? an economic perspective
This Economic Letter discusses how the unique economic nature of R&D may bear on the question of the constitutionality of state R&D tax credits. In particular, I discuss the conditions laid out by the U.S. Supreme Court for determining the constitutionality of a state tax credit and how economic research can play a critical role in assessing whether these conditions are met.
Working Paper
Rural Affordable Rental Housing : Quantifying Need, Reviewing Recent Federal Support, and Assessing the Use of Low Income Housing Tax Credits in Rural Areas
Recently, there has been significant interest in the high levels of rental cost burden being experienced across the United States. Much of this scholarship has focused on rental cost burdens in larger urban areas, or at the national level, and has not explored differences in the prevalence of rental cost burden in urban versus rural communities. In this paper, I find that rental cost burdens are a challenge facing both urban and rural communities. However, despite the need for affordable rental housing in rural communities identified, I find the amount of resources made available by the ...
Journal Article
The rise and spread of state R&D tax credits
This article begins with a description of the general structure of state R&D tax credits, and then explains how their true value can be measured, and how the average value as well as the availability of R&D tax credits have evolved over time. It concludes with a discussion of the implications of this evolution in terms of tax competition among states.
Journal Article
Low-income housing tax credits in Texas: achievements and challenges
As the LIHTC program faces the biggest challenges of its nearly 25-year history, it's imperative to look holistically at the evolution and distribution patterns of this housing production program. This issue provides a program overview, a current market-condition analysis and an update on recent regulatory changes.
Journal Article
The New Markets Tax Credit Program: will it live up to its potential?
Because many small businesses in isolated inner-city or rural locations are cut off from mainstream capital networks, a new conduit for channeling equity capital is needed?patient capital that can be used to grow a business and manage risks in less diversified economies. Many believe the New Markets Tax Credit Program, which aims to stimulate $15 billion in private equity investment in low-income communities, can provide such a conduit. While the program has many strengths, it is still too early to tell whether it will live up to its promise because the initial investments are just beginning ...
Journal Article
Noteworthy: housing: tax credit boosts sales to first-time homebuyers in Texas
The beleaguered Texas housing market has been getting some help from Washington's attempts to revive the economy. First-time homebuyers in the state are taking advantage of tax credits of as much as $8,000 provided by the American Recovery and Reinvestment Act of 2009.
Journal Article
Transferable tax credits in Missouri: an analytical review
In 2005, Missouri had 53 legally authorized tax credit programs. In this paper, the authors assemble basic information on all of these programs and further analyze the six largest (by tax credits issued) that include freely transferable credits. Their analysis focuses on the institutional features of these programs, the kinds of market failures or disparities they may address, and whether the design of each program is consistent with its economic rationale. The authors also consider whether the evaluation of each program by the state is consistent with its economic rationale. They conclude ...
Journal Article
Investor perspective: how to invest in NMTCs
Wells Fargo Bank has over $1 billion in its community investment portfolio and is one of the country?s leading investors in NMTC. This article is a practical analysis of how to target and underwrite NMTC investments.
Journal Article
Low Income Housing Tax Credits: strategies for year 15
As the Low Income Housing Tax Credit 15-year compliance period begins to expire on affordable housing projects across the country, the Wyndham Financial Group?s William S. Hettinger examines how organizations are addressing this issue and offers strategies for success.
Journal Article
Tax credits for job creation and retention: What can we learn from the states?
This Letter describes how state tax credits for job creation and retention are structured in terms of size and function and discusses what lessons from state experiences might be relevant to the public debate over a possible federal credit.