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Economic Development › Tax Abatement

Akerman LLP - HR Defense

New York City's Commercial Real Estate Tax Industrial and Commercial Abatement Program Extended to 2030 With Modifications

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The New York City Industrial and Commercial Abatement Program (ICAP) has been extended to remain in effect through 2030, with some modifications. The New York state budget bill for FY 2026, signed by Governor Kathy Hochul on...more

Fisher Phillips

6 Reasons More Japanese Companies Are Moving to Texas: Your Strategic Guide

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As Japanese companies expand to the US, many are finding that Texas offers key advantages for long-term growth, particularly in the Dallas and Houston regions. Notably, Texas lawmakers have taken steps in recent years to...more

Akerman LLP

New York City’s Industrial and Commercial Real Estate Tax Abatement Program Extended to 2029

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New York Governor Kathy Hochul signed the bill on extending the Industrial and Commercial Abatement Program (ICAP) for an additional four years, to March 1, 2029, with no modifications to the program....more

K&L Gates LLP

Washington, D.C.'s Office of the Deputy Mayor for Planning and Economic Development Proposes Rules to Implement Downtown Real...

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On 26 January 2024, Washington, D.C.’s Office of the Deputy Mayor for Planning and Economic Development (DMPED) published a Notice of Proposed Rulemaking to implement tax abatements to be made available to developers of...more

Cole Schotz

New M-CORE Program to Incentivize Manhattan Office Renovations

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The New York City Economic Development Corporation (NYCEDC) and the New York City Industrial Development Agency (NYCIDA) have launched the Manhattan Commercial Revitalization (M-CORE) Program to incentivize owners and...more

Akerman LLP

Pre-Applications for NYC's New M-CORE Program Available on June 8, 2023

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The New York City Economic Development Corporation (NYCEDC) and the New York City Industrial Development Agency (IDA) created the New Manhattan Commercial Revitalization (M-CORE) Program with the goal of supporting...more

Kohrman Jackson & Krantz LLP

City of Cleveland Property Tax Abatement: The Study, Key Findings and Recommendations

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THE STUDY - In the summer of 2019, Cleveland’s Office of Community Development and the Equitable Community Development Working Group commissioned a study (the “Study”) to identify the historic usage of the City’s Tax...more

Benesch

City of Columbus Announces New Policy for Tax Incentives

Benesch on

On January 29, 2018, Columbus Mayor Andrew Ginther and City Council announced a new policy for tax incentives that would significantly change the way in which tax abatements and other incentives are structured in certain...more

Alston & Bird

GASB Issues Final Rule on Financial Reporting of Tax Abatements

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On August 15, 2015, the Government Accounting Standards Board (GASB) issued Statement No. 77 (the “Tax Abatement Standard”) concerning financial reporting of tax abatements and other economic development incentives that...more

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