NEW ORLEANS PARTNERSHIP : President - David A. Morgan
David A. Morgan served for six years as Tax and Legislative Counsel to a Senior Member of the House Ways and Means Committee. During his Ways & Means tenure, Mr. Morgan worked with Ways and Means Staff, Senate Finance Staff and the Clinton Administration to draft and enact the Community Renewal Tax Relief Act of 2000 and specifically the New Markets Tax Credit Program. This has allowed him to gain a keen understanding of the intricate compliance requirements of the New Markets Tax Credit Program, and its interplay with the Historic Tax Credit, Qualified Zone Academy Bond and Low Income Housing Tax Credit programs and their economic development potential (collectively “Tax Credit Programs”).
Mr. Morgan worked extensively with the Congressional and Bush Administration officials that oversee and monitor the New Markets Tax Credit Program. Specifically, Mr. Morgan worked with the U.S. Treasury Department to draft and modify the proposed and final regulations governing the New Markets Tax Credit Program and has worked closely with the New Markets Tax Credit Coalition to clarify the rules governing the program. In addition, he interacts extensively with senior government officials, senior executives in the private and non-profit sector and academic and legal scholars to review and monitor implementation of the New Markets Tax Credit Program.
Mr. Morgan has advised several successful applicants for New Market Tax Credits and assisted them in their efforts to navigate the complex compliance requirements. He has also worked with the Louisiana Department of Economic Development in its efforts to develop a New Markets Tax Credit Matching Loan Fund to increase the value of the New Markets Tax Credit to investors and with businesses to create innovate structures to harmonize New Markets Tax Credits with other tax credit and subsidy programs. Mr. Morgan has also worked extensively with a New Markets Tax Credit recipient on developing a structure to utilize the New Market Tax Credit to finance acquisition and construction of owner occupied housing.
Prior to joining the Ways & Means staff in May 1998, Mr. Morgan worked for two years as a tax associate at the prestigious Washington DC law firm, Miller & Chevalier Chartered. Mr. Morgan specialized in substantive taxation issues, including taxation of final products, taxation of corporations, affordable housing tax credits, and taxation of international transactions.
Mr. Morgan received a B.S. degree from Cornell University and a J.D. degree from Harvard University Law School. He is admitted to the Bar in New York (1997) and the District of Columbia (1998) and is a member of the real estate taxation section ofthe American Bar Association and the National Bar Association. Mr. Morgan is also a member of the Potomac Coalition, Inc., an economic development and political advocacy organization focused on expanding economic opportunities for urban Americans.
Bio as of August 2006
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