On June 5, HUD announced that it's clamping down on excessive pay at public housing authorities, setting caps that extend and expand limits imposed by Congress. The action comes as HUD revealed that the top official at the Atlanta housing agency received a compensation package of $644,214,...
The Federal Housing Finance Agency (FHFA) recently released for comment proposed changes to its existing housing goals and housing goals for 2012, 2013, and 2014 for Fannie Mae and Freddie Mac.
According to the FHFA, the value of low-income housing tax credits (LIHTCs) fell in 2009, but...
HUD recently announced that it has designated qualified census tracts (QCTs) for 2013 for purposes of the low-income housing tax credit. HUD based the 2013 QCTs on new data from the 2010 Decennial Census and the 2006-2010 tabulations of the American Community Survey.
Utah Governor Gary Herbert recently signed H.B. 75 to require low-income housing tax credit (LIHTC) property owners to provide certain information annually to county assessors.
Under the new law, owners must provide rent rolls and a financial operating statement for the prior year, a...
Recently, a federal judge ruled that the Texas Department of Housing and Community Affairs (TDHCA) unintentionally discriminated in its allocation of low-income housing tax credits (LIHTCs). The case was filed by The Inclusive Communities Project (ICP), a Dallas fair housing organization. In its...
The benefits of the low-income housing tax credit (LIHTC) program extend beyond the families occupying the approximately 200 affordable housing units that are financed each year in New Hampshire, says a recent study by the New Hampshire Finance Housing Authority. According to the report, the...
Congressman Christopher Gibson and Tom Reed of New York recently introduced H.R. 3769, the Irene and Lee Tax Relief Storm Recovery Act. If the bill passes, states that were hit last year by Hurricane Irene or Tropical Storm Lee may receive disaster rebuilding assistance in the form of increased...
In December, a group of lawmakers in the House and Senate introduced legislation to make permanent the 9 percent tax credit percentage floor for the low-income housing tax credit (LIHTC).
On Dec. 23, 2011, the IRS issued temporary and proposed rules regarding the tax treatment of costs incurred in acquiring, maintaining, and improving tangible property, including multifamily buildings. The 255 pages of new regulations, published in the Federal Register, are temporary,...
