Q&A: Kenny McDonald, CEcD
| ||We asked Kenny McDonald, president and chief economic officer of Columbus 2020, to answer some questions regarding the organization, its upcoming initiatives and the evolving perception of Columbus. Kenny has helped lead the execution of the Columbus 2020 Regional Growth Strategy and development of the Columbus region’s competitiveness agenda, and he has also built local and national partnerships that have accelerated the area’s development. Click here to read more.
Vorys has a dedicated team of attorneys monitoring the day-to-day tax reform developments and the potential impact of the legislation on our clients. If you have any questions about tax reform, please contact your Vorys attorney.
UPDATE: New Effective Date for the Ohio Historic Preservation Tax Credit Certificate Could Cause Delay in Claiming Credit
By: Kelly B. Bissinger, Joseph B. Mann and Daniel R. Bross
In order to claim Ohio Historic Preservation Tax Credits (OHPTCs) on a project, a taxpayer must first receive a tax credit certificate (certificate) from the Ohio Development Services Agency (ODSA). Once a taxpayer has received a certificate, a taxpayer may then claim the resulting OHPTCs for the taxable year of the effective date reflected on the certificate. Click here to read more.
Illinois Reinstates and Revises the EDGE Tax Credit
By: Christopher Knezevic
One of Illinois’ main economic development incentives is back. On September 18, 2017, Illinois Governor Bruce Rauner signed into law H.B. 162, which reinstates the Economic Development for a Growing Economy (EDGE) Tax Credit Program and extends the sunset date to June 30, 2022. Click here to learn more.
Save the Date: Vorys Economic Development Incentives Conference is Feb. 23
The third annual Vorys Economic Development Incentives Conference is scheduled for Friday, February 23, 2018. Last year, more than 120 developers, company representatives and community leaders arrived to hear a half-day of presentations focused solely on incentives issues. We are excited about the expected slate of presenters for the 2018 conference. We plan to welcome speakers on a number of interesting topics, such as key economic development incentive ideas from across the country, incentives considerations in multi-phase projects, federal tax considerations in incentives deals, and do’s and don’ts while working with the media during incentives transactions. We’ll once again have breakout sessions specifically for operating businesses and developers. Please be on the lookout for further information, including how to register, in the coming weeks.
This program is expected to offer CLE (legal), CPE, and real estate (CE) credit.
Around the Web
Early Tax Reform Details Provide Good, Bad, In-Between News for Tax Credits – Novogradac & Company
House tax plan faces bipartisan backlash over repeal of development incentives Washington Post
GOP Tax Plan Puts Billions in Muni Market Savings at Risk - Governing
TIF Commission rejects request for Broadway Hotel expansion financing - Missourian
Wisconsin’s Foxconn Tax Deal OK’d With State Safeguards – Bloomberg BNA