In the News

In the News

JCHS Compares Rental Supply and Demand at Various Income Levels

October 30, 2018    

A recent analysis by the Harvard Joint Center for Housing Studies (JCHS) compared changes in the rental supply at various rent levels with changes in the number of renter households at various income levels. The analysis found that a growing number of low-income renters are competing for a...

IRS Provides Temporary Relief to Displaced Victims of Recent Hurricanes

October 30, 2018    

The Internal Revenue Service has provided temporary relief from certain requirements of the Internal Revenue Code to allow owners and operators of low-income housing projects located anywhere in the United States and its territories to provide temporary emergency housing to individuals who are...

Rep. Clyburn Proposes Renters Credit and Local Zoning Reforms

October 30, 2018    

Representative James E. Clyburn (D-SC) recently introduced the “Housing Opportunity, Mobility and Equity (HOME) Act of 2018” (H.R. 7050), the House version of the Senate legislation (S.3342) proposed by Senator Cory Booker (D-NJ).

Treasury Gives Advance Look at Proposed Opportunity Zone Regulations

October 30, 2018    

The Treasury Department and the IRS recently issued Newswire IR-2018-206 announcing an advance version of proposed Opportunity Zone tax incentive regulations. Opportunity Zones, created by the 2017 Tax Cuts and Jobs Act, were designed to spur investment in distressed communities through tax...

Social Security Benefit Increases 2.8 Percent for 2019

October 30, 2018    

The Social Security Administration recently announced that the Social Security and Supplemental Security Income (SSI) benefits for more than 67 million Americans will increase 2.8 percent in 2019.

Senate Confirms Charles Rettig to Be IRS Commissioner

September 27, 2018    

The Senate recently voted 64-33 to approve Beverly Hills tax attorney Charles Rettig as Internal Revenue Service commissioner. Democrats opposed the nomination because of a new Trump administration policy allowing some groups involved in politics to hide their donors’ identities.

Housing Bonds Set New Record in 2017

September 27, 2018    

According to the latest Annual Volume Cap Report issued by the Council of Development Finance Agencies (CDFA), the combined tax-exempt private activity bond (PAB) issuance for multifamily and single-family housing set a record in 2017. The report presents data on how states allocate and utilize...

GAO Publishes Final LIHTC Report on Development Cost

September 27, 2018    

The U.S. Government Accountability Office (GAO) recently published a new report called “Low-Income Housing Tax Credit: Improved Data and Oversight Would Strengthen Cost Assessment and Fraud Risk Management.” This report is the last of four reports prepared at the request of Senator...

Senator Wyden Introduces Middle-Income Housing Tax Credit

August 30, 2018    

U.S. Senator Ron Wyden (D-OR) recently introduced legislation to create a middle-income housing tax credit (MIHTC) intended to encourage the development of affordable housing for Americans with moderate incomes. The bill is modeled after the LIHTC program. The legislation aims to provide a...

Senator Cantwell Holds Roundtable Discussion on Affordable Housing

August 30, 2018    

U.S. Senator Maria Cantwell (D-WA) recently held a roundtable discussion in a Washington state county facing a housing crisis. Cantwell has been a strong advocate for the LIHTC program. This past spring, Cantwell worked with Senator Orrin Hatch (R-UT) and others to secure a 12.5 percent increase...

Federal LIHTC Investigation Widens in Florida to Banks

August 30, 2018    

At the end of 2016, Miami developer Matthew Greer, former CEO of Carlisle Development Group, pleaded guilty to stealing $16 million from the LIHTC program and was sentenced to three years in prison. The prosecutor in the case was Assistant U.S. Attorney Michael Sherwin, who has spent a number of...

Senators Introduce Bipartisan Affordable Housing Task Force Bill

July 30, 2018    

U.S. Senator Maria Cantwell (D-WA), U.S. Senator Todd Young (R-IN), and a bipartisan group of their Senate colleagues recently introduced the Task Force on the Impact of the Affordable Housing Crisis Act, which seeks to better understand and respond to America’s housing crisis by creating...