European Commission - Press Release details page - European Commission - Press release Brussels, 3 December 2015 The Commission has opened a formal probe into Luxembourg's tax treatment of McDonald's.Its preliminary view is that a tax ruling granted by Luxembourg may have granted McDonald's an advantageous tax treatment in breach of EU State aid rules In particular, the. Press Release Reference Tool Citationsy has launched on the Mac Automagically generate references from any source in over 8,500 different styles [Stockholm.
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. Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac (the Enterprises) will be allowed limited re-entry into the Low Income Housing Tax Credit (LIHTC) market as equity investors, effective immediately. The LIHTC, established in the Tax Reform Act of 1986, is the primary government program available to address the shortage of affordable rental housing through the creation and preservation of affordable units in underserved areas throughout the country.
FHFA's decision was based on several factors, including furthering the Enterprises' mission to support affordable housing and ensuring that they could provide a countercyclical role in the LIHTC market in the future if needed. 'This decision demonstrates our commitment to supporting affordable rental housing in a controlled and thoughtful manner intended to stabilize the market and not to compete with private investors.
Most of the Enterprises' investments will be used to facilitate transactions that support underserved markets and complement our (DTS) priorities,' said FHFA Director Mel Watt. Each Enterprise will be subject to an annual investment limit of $500 million, less than a 5 percent market share for each. Within this funding cap, any investments above $300 million in a given year are required to be in areas that have been identified by FHFA as markets that have difficulty attracting investors. These investments are designed to preserve affordable housing, support mixed-income housing, provide supportive housing, or meet other affordable housing objectives.
FHFA engaged in significant stakeholder outreach about whether the Enterprises should be authorized to re-enter the LIHTC equity market, including a specific request for comments on this topic in FHFA's proposed DTS rule in 2015. Going forward, FHFA will continue to evaluate the Enterprises' participation in the LIHTC equity market annually.
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Freddie Mac does not undertake an obligation, and disclaims any duty, to update any of the information in those documents. Freddie Mac's future performance, including financial performance, is subject to various risks and uncertainties that could cause actual results to differ materially from expectations. The factors that could affect the company's future results are discussed more fully in our reports filed with the SEC.