Rehabilitation tax credit definition

Rehabilitation tax credit means the federal housing tax credit applicable to rehabilitation projects utilizing federally tax‑exempt bond financing and intended to deliver up to a thirty percent subsidy, sometimes referred to as the four percent low‑income housing tax credit.
Rehabilitation tax credit means the federal housing tax

Examples of Rehabilitation tax credit in a sentence

  • Categorize each source under private loans, federal loans or grants, state, local or private loans or grants, deferred developer fees, and Section 42 Credits (equity investment pay-ins during construction), Historic Rehabilitation tax credit proceeds paid-in during construction, and acquisition and construction grants.

  • Notwithstanding the foregoing, for the duration that the association is under a conservatorship of the Insurance Commissioner, the independent trustees shall be appointed by, and shall serve at the pleasure of the Insurance Commissioner.The independent trustees are deemed members of PEOPLES BANK OF CARAGA-MUTUAL BENEFIT ASSOCIATION, INC.

  • Categorize each source under private loans, federal loans or grants, state, local or private loans or grants, deferred developer fees, LIHTC equity investment pay-ins during construction, Historic Rehabilitation tax credit proceeds paid-in during construction, and acquisition and construction grants.

  • The Virginia Historic Rehabilitation tax credit provides a tax credit against income tax, insurance premiums tax, and bank franchise tax for the rehabilitation of a certified historic structure certified by the Department of Historic Resources.

  • Enter in Column B, the amount applied to the corporation business tax for the current year.Line 15 - Enter in Column A, any available credit carryforward balance from 2000 for the Historic Homes Rehabilitation tax credit.

  • Rehabilitation tax credit The Joint Committee staff recommends that the 10-percent credit for rehabilitation expenditures with respect to buildings first placed in service before 1936 should be eliminated.

  • PREFERENCE REPORT: HISTORIC REHABILITATION TAX CREDIT (INCOME TAX, INSURANCE PREMIUMS TAX, AND BANK FRANCHISE TAX) JUNE 2016 JOINT SUBCOMMITTEE TO EVALUATE TAX PREFERENCES Preference Description The Virginia Historic Rehabilitation tax credit, set out in § 58.1-339.2 of the Code of Virginia,1 grants owners of certified historic structures the ability to receive a tax credit against their income, insurance premium, or bank franchise tax.

  • A few of the urban sites that are taking advantage of the Federal Rehabilitation Tax Credit include: ◗ Over one hundred properties in the Salem City were rehabilitated using the Historic Rehabilitation tax credit for low- income housing.

  • The Historic Homes Rehabilitation tax credit may be carried forward for four income years.

Related to Rehabilitation tax credit

  • Rehabilitation Program means a written vocational rehabilitation program:

  • Rehabilitation Plan means a written plan designed to enable the Employee to return to work. The Rehabilitation Plan will consist of one or more of the following phases:

  • Rehabilitation means the repair, renovation, alteration or reconstruction of any building or structure, pursuant to the Rehabilitation Subcode, N.J.A.C. 5:23-6.

  • Certified rehabilitation means repairs or alterations consistent with the Secretary of the Interior’s Standards for Rehabilitation and certified as such by the State Historic Preservation Officer before commencement of the work. The review by the State Historic Preservation Officer shall include all repairs, alterations, rehabilitation, and new construction on the certified historic residential structure and the property on which it is located. To qualify for the credit, the taxpayer shall receive documentation from the State Historic Preservation Officer verifying that the completed project was rehabilitated in accordance with the standards for rehabilitation. The rehabilitation expenses must, within a thirty‑six‑month period, exceed fifteen thousand dollars. A taxpayer shall not take more than one credit on the same certified historic residential structure within ten years.

  • Rehabilitation facility means a facility that is operated for the primary purpose of assisting in the rehabilitation of disabled individuals by providing comprehensive medical evaluations and services, psychological and social services, or vocational evaluation and training or any combination of these services and in which the major portion of the services is furnished within the facility.

  • Rehabilitation Hospital means an Institution which mainly provides therapeutic and restorative services to Sick or Injured people. It is recognized as such if:

  • Rehabilitation services means face-to-face individual or group services provided by qualified staff to develop skill necessary to perform activities of daily living and successful integration into community life.

  • Rehabilitative employment means any occupation or employment for wage or profit or any course or training that entitles the disabled employee to an allowance, provided such rehabilitative employment has the approval of the employee’s doctor and the underwriter of the Plan. If earnings are received by an employee during a period of total disability and if such earnings are derived from employment which has not been approved as rehabilitative employment, then the regular monthly benefit from the Plan shall be reduced by one hundred percent (100%) of such earnings.

  • Community rehabilitation program means a program that provides directly or facilitates the provision of one or more of the following vocational rehabilitation services to individuals with disabilities to enable those individuals to maximize their opportunities for employment, including career advancement:

  • Rehabilitative services means specialized services provided by a therapist or a therapist’s assistant to a resident to attain optimal functioning, including, but not limited to, physical therapy, occupational therapy, speech and language therapy, and audiology.

  • child tax credit means a child tax credit under section 8 of the Tax Credits Act 2002;

  • Rehabilitation counseling services means services provided by qualified personnel in individual or group sessions that focus specifically on career development, employment preparation, achieving independence, and integration in the workplace and community of a student with a disability. The term also includes vocational rehabilitation services provided to a student with disabilities by vocational rehabilitation programs funded under the Rehabilitation Act of 1973, as amended.

  • Substantial rehabilitation means, with respect to the SAIL Program, to bring a Development back to its original state with added improvements, where the value of such repairs or improvements (excluding the costs of acquiring or moving a structure) exceeds 40 percent of the appraised as is value (excluding land) of such Development before repair and less than 50 percent of the proposed construction work consists of new construction. For purposes of this definition, the value of the repairs or improvements means the Development Cost. To be considered “Substantial Rehabilitation,” there must be at least the foundations remaining from the previous structures, suitable to support the proposed construction.

  • Vocational rehabilitation services means the unit of vocational rehabilitation established in IC 12-12-1-2(2) as a unit of the rehabilitation services bureau in DDRS.

  • Qualified rehabilitation expenditures means capital

  • Input Tax Credit means the credit of input tax;

  • Habilitation means the process by which a person is assisted

  • Tax Credit means a credit against, relief or remission for, or repayment of any Tax.

  • Prohibited Transaction Tax Any tax imposed under Section 860F of the Code. Prospectus: The prospectus dated February 21, 2006 as supplemented by the prospectus supplement dated February 23, 2006, relating to the Class A, Class B-1, Class B-2 and Class B-3 Certificates.

  • working tax credit means a working tax credit under section 10 of the Tax Credits Act 2002;

  • Post-Distribution Tax Period means a Tax year beginning and ending after the Distribution Date.

  • Tax Credits means any state, local and/or federal production tax credit, tax deduction, and/or investment tax credit specific to the production of renewable energy and/or investments in renewable energy facilities.

  • Income Tax Act means the Income Tax Act (Canada), as amended from time to time;

  • Agreement combined tax rate means the sum of the tax rates:

  • REO Tax As defined in Section 3.17(a).

  • Income Tax Expense means, with respect to the Borrowers, for any period, the aggregate, without duplication, of all Taxes on the income of such Person for such period, whether current or deferred, determined on a Modified Consolidated Basis.