Legal Alert: Revised Text for the Build Back Better Legislation Includes LIHTC, NHTC, and Tribal NMTC
By: Christy Vouri-Misso Low-Income Housing Tax Credit The BBBA extends the 9% LIHTC allocations to pegged amounts through 2025. The provision is effective for calendar years after December 31, 2021. The provision provides a 50% increase in basis for LIHTC projects that designate at least 20% of their units for extremely low-income tenants. These projects Read More »
Legal Alert: Build Back Better Act Proposal Includes Clean Energy Tax Incentives
By: Natalie Hempson-Elliott, Julia Martin & Christy Vouri-Misso The Build Back Better Act package released by Congress last week includes a significant amount of tax benefits for clean energy production. Below is a summary of what we are watching: Extension of the PTC Extends the production tax credit (PTC), which allows energy producers to claim Read More »
LEGAL ALERT: New York State Enacts New Requirements for Power of Attorney Regulations
On June 13, 2021, a new version of the New York Statutory Short Form Power of Attorney went into effect. Powers of Attorney signed before this date that complied with the earlier law continue to be valid. However, any Power of Attorney signed after June 13th must comply with the new requirements, as outlined below. Read More »
N.Y. HERO Act – NYSDOL Publishes Airborne Infectious Disease Prevention Standards and Safety Policy Templates for Various Industries
What Is It? The New York Health and Essential Rights Act ("NY HERO Act"), enacted in May 2021, requires employers to establish new health and safety measures regarding airborne infectious diseases. The Act also gives the New York State Department of Labor ("NYSDOL") authority to develop minimum standards for employers to follow to help prevent Read More »
LEGAL ALERT: Prevailing Wage Increase for Highly Skilled Non-Immigrant and Immigrant Workers is Delayed
The Department of Labor ("DOL") delayed until November 2022 the effective date of the Trump Administration's rule titled "Strengthening Wage Protections for the Temporary and Permanent Employment of Certain Immigrants and Non-Immigrants in the United States" (the "Prevailing Wage Rule" or "Rule") which significantly raised the minimum wage employers must pay to highly skilled H-1B, Read More »
LEGAL ALERT: No More Deferral of New York State Capital Gains for Qualified Opportunity Zone Funds
Under the recently enacted New York State 2021-2022 Budget Bill, A.3009-C/S.2509-C, New York has "decoupled" from the Federal Qualified Opportunity Zone program. This means that any capital gain in 2021 and later may no longer be deferred from New York State tax. The capital gain may still be invested in a Qualified Opportunity Zone Fund Read More »
FY2022 H-1B Online Registration Starts on March 9, 2021
United States Citizenship and Immigration Services (“USCIS”) announced that employers may submit their cap-subject H-1B online registration forms beginning Tuesday, March 9, 2021 at noon Eastern Time and continuing through Thursday, March 25, 2021 at noon Eastern Time. Employers will need to register and pay an associated $10 fee for each H-1B electronic registration. USCIS will conduct a Read More »
NY Discrimination Law Expanded to Protect Employee’s Reproductive Health Decisions: Update to Employee Handbooks Required
New York has expanded its protection of employee rights to include an employee's (and their dependent's) right to make decisions concerning their reproductive health. Specifically, the law prohibits an employer from taking any discriminatory or retaliatory action against an employee because the employee or an employee's dependent has made any health decision relating to their Read More »