Feature
March 28, 2016
The Fair Housing Act (FHA) prohibits housing discrimination because of race, color, religion, sex, national origin, familial status, or disability. The law targets discriminatory practices by making it unlawful to deny housing—or discriminate in the terms and conditions of the rental—...
Compliance
March 28, 2016
On March 3, the IRS and the Treasury Department published amended regulations for utility allowances at LIHTC sites. The two sets of regulations issued help owners use a consumption-based utility allowance at properties that are either submetered or generate and sell energy using onsite renewables...
In the News
March 28, 2016
The IRS recently invited public comment on recommendations for items that should be included in the 2016-2017 Priority Guidance Plan. The IRS sets priority guidance plans each year and updates them on a quarterly basis. The IRS uses the priority guidance plan each year to identify and prioritize...
In the News
March 28, 2016
The Kentucky Board of Tax Appeals recently ruled that an appraiser valuing a LIHTC site must consider the rental restrictions placed on the site. The board considered the assessed value of a 20-unit site subject to the federal LIHTC income and rent restrictions. The county’s valuation...
In the News
March 28, 2016
HUD recently announced a settlement agreement with Maryland’s Baltimore County over federal discrimination complaints filed in 2011. The complaints revolve around an issue that’s been playing out across the nation. The issue involves whether state and local governments may be violating...
In the News
March 28, 2016
The Justice Department recently announced that the owners and developers of 71 multifamily housing sites in four states have agreed to pay $350,000 to settle claims that they violated federal fair housing law by building apartment complexes that were inaccessible to persons with disabilities. All...
In the News
March 28, 2016
HUD recently published a notice accepting public comment on the latest revision of the statutorily mandated collection of information on tenants in LIHTC sites. The information collection is mandated by the Housing and Economic Recovery Act (HERA) of 2008, and requires state and local agencies...
Feature
February 26, 2016
The low-income housing tax credit program is administered at the state level by state housing finance agencies with each state getting a fixed allocation of credits based on its population. The state housing agency has wide discretion in determining which projects to award credits, and applications...
Dealing with State Housing Agency
February 26, 2016
The IRS recently issued final and temporary regulations relating to LIHTC compliance monitoring. The temporary regulations expire Feb. 22, 2019. The amendments revise and clarify the requirement to conduct physical inspections and review low-income certifications and other documentation.
In the News
February 26, 2016
The Center for Housing Policy at the National Housing Conference recently released its annual Housing Landscape 2016 report. It finds that more low- and moderate-income (LMI) working households are renting as opposed to owning their homes, with the share of households who rent increasing from 50.8...
