Online Alerts

Online Alerts

Lawmakers Reintroduce LIHTC Expansion Bill

June 13, 2019    

A bipartisan group of lawmakers have introduced legislation in both houses of Congress to expand the LIHTC program. The Affordable Housing Credit Improvement Act of 2019 was introduced by U.S. Senators Maria Cantwell (D-Wash.), Johnny Isakson (R-Ga.), Ron Wyden (D-Ore.), and Todd Young (R-Ind...

FHA Offers Incentives for Owners Who Invest in Opportunity Zones

June 13, 2019    

The Federal Housing Administration (FHA) recently announced a package of incentives to encourage multifamily property owners to invest in thousands of neighborhoods located in Opportunity Zones across the nation.

Fed Issues Report on Economic Well-Being

June 13, 2019    

The Board of Governors of the Federal Reserve System recently released its “Report on the Economic Well-Being of US Households in 2018.” The report describes the responses to the sixth annual “Survey of Household Economics and Decisionmaking,” and it highlights the wide...

Survey: A Third of Americans Have Trouble Finding Affordable Housing Near Work

May 9, 2019    

Fannie Mae and research firm Penn Schoen Berland (PSB) recently released survey data on how Americans feel about housing affordability and its relation to other factors, such as childcare options and job opportunities. The survey found that one in three people have trouble finding affordable...

Five QAP Changes That Can Increase Supportive Housing

May 9, 2019    

According to the Corporation for Supportive Housing (CSH), there’s an estimated 1.125 million supportive housing units needed nationwide. In a recent report entitled “Optimizing Qualified Allocation Plans for Supportive Housing 2018–2019,” CSH pointed out that each year...

Veterans Housing Is Eligible for Tax-Exempt Bond Financing

April 11, 2019    

Two weeks after senators sent a letter asking IRS Commissioner Charles Rettig to issue a notice clarifying that affordable housing projects for veterans that comply with the LIHTC General Public Use criteria are also eligible for Private Activity Bonds (PABs), the IRS released Revenue Procedure...

Treasury Issues Update to Priority Guidance Plan

April 11, 2019    

The Treasury Department recently issued the second quarter update to its 2018-19 Priority Guidance Plan. The plan details tax guidance the government intends to focus its efforts on in the coming months. As in prior years, the IRS updates the plan periodically to reflect additional guidance that...

JCHS Releases Growth Projections of Homeowner and Renter Households

April 11, 2019    

The Harvard Joint Center for Housing Studies (JCHS) recently released growth projections of homeowner and renter households in a report entitled, “Tenure Projections of Homeowner and Renter Households for 2018-2038.” JCHS projects that the U.S. will add between 2.1 million and 6.2...

FHA Expands Pilot Program to Accelerate LIHTC Project Financing

March 14, 2019    

HUD Secretary Ben Carson recently announced a significant expansion of a Federal Housing Administration (FHA) pilot program that streamlines FHA mortgage insurance applications for affordable housing developments that have equity from the sale of Low-Income Housing Tax Credits (LIHTCs).

Senate Confirms New IRS Chief Counsel

March 14, 2019    

The Senate recently confirmed Michael Desmond to be chief counsel at the IRS. Desmond, a California tax lawyer who formerly worked at the Treasury Department and in the Tax Division of the Justice Department, was confirmed as IRS chief counsel in a bipartisan vote of 83-15.

Dallas Lawmaker Seeks to Take Away Elected Officials’ Influence of LIHTC Projects

March 14, 2019    

Texas State Rep. Eric Johnson recently announced that he plans to file anti-corruption legislation that would halt the practice of soliciting letters from elected officials supporting or opposing housing developments being considered for federal tax credits. The announcement comes after state...

District Court Dismisses Disparate Impact Suit Against Treasury Dept.

February 14, 2019    

A U.S. District Court in Texas recently dismissed a lawsuit by Inclusive Communities Project Inc. against the U.S. Department of Treasury and the Office of the Comptroller of the Currency (OCC). The Treasury Department oversees the LIHTC program, and the OCC oversees the banks that make a...