Dealing with Households
February 27, 2017
IRS regulations don’t require annual certifications for properties that are 100 percent tax credit. However, for mixed-income sites, recertifications serve an important function. Annual certifications ensure affordable housing units are occupied by income-eligible households, and provide a...
In the News
February 27, 2017
Representative Keith Ellison (D-MN) recently reintroduced legislation to end homelessness and housing poverty through tax reform. The bill calls for reducing the mortgage interest deduction to a flat 15 percent tax credit for the first $500,000 of debt. The legislation would gradually phase-out the...
In the News
February 27, 2017
Texas Low Income Housing Information Service recently released a report titled “Fair Housing and Balanced Choices: Did Texas Reduce Government-Funded Segregation?” The report looked at the effect of a 2013 change in LIHTC award criteria on the location of LIHTC developments in the state...
In the News
February 27, 2017
On Feb. 13, by a vote of 53 to 47, the United States Senate voted to confirm the nomination of Steve Mnuchin, a former investment banker and Hollywood film financier, to serve as Secretary of the Treasury. Mnuchin served as senior advisor and finance chair to the Trump campaign and recently served...
Feature
January 31, 2017
The Fair Trade Commission (FTC) recently issued new guidance for owners who use background checks to screen tenants to help them comply with the federal Fair Credit Reporting Act (FCRA), which the FTC helps enforce. If part of your applicant screening process involves running a tenant background...
Income Calculations
January 31, 2017
When recertifying households, you, as the site tax credit manager, probably know that households that go over-income don’t cease to qualify as tax credit units. To continue receiving tax credits on a unit whose household goes over-income, you must follow the available unit rule. The rule...
In the News
January 31, 2017
During Dr. Ben Carson’s confirmation hearing before the Senate Committee on Banking, Housing, & Urban Affairs, Carson spoke of harnessing the private sector to help those in poverty, and the Low Income Housing Tax Credit came up specifically during a conversation with Senator David Purdue...
In the News
January 31, 2017
A study recently published online in Housing Policy Debate titled “How Location Efficient is LIHTC? Measuring and Explaining State-Level Achievement” finds that recently built rental housing funded by low-income housing tax credits is more likely to be in “location-efficient...
In the News
January 31, 2017
Representative Keith Ellison (D-MN) recently circulated a Dear Colleague letter urging the House Ways and Means Committee to use tax reform as an opportunity to end homelessness and housing poverty by keeping housing-related tax savings within housing. The letter asks representatives to join the...
In the News
January 31, 2017
The expectation that President Trump and Congress will cut corporate taxes is already affecting the pricing of LIHTCs for investors. The anticipation of comprehensive tax reform has made some LIHTC investors pause activity or make decisions based on the assumption of less equity per dollar of...
