Reintroduced AHCIA Bill Seeks to Expand and Improve LIHTC Program

May 25, 2023    

On May 11, bipartisan groups of senators and representatives introduced the Affordable Housing Credit Improvement Act (AHCIA) of 2023 in the Senate and House. The AHCIA was first introduced in Congress in 2016, and has had increasing bipartisan support since then. Although it hasn’t passed...

Treasury Highlights Use of ARP Funds to Increase Affordable Housing Supply

April 27, 2023    

HUD and the Treasury Department recently highlighted the Biden administration’s efforts to increase access to safe, quality housing by encourage the use of American Rescue Plan (ARP) funds for affordable housing production and preservation. The State and Local Fiscal Recovery Funds (SLFRF...

Senator Wyden Reintroduces DASH Act to Expand LIHTC

March 31, 2023    

Senate Finance Committee Chairman Ron Wyden recently reintroduced the Decent Affordable, Safe Housing for All (DASH) Act, which implements sweeping reforms to affordable housing financing in an effort to combat homelessness and expand affordable housing access.

IRS Publishes Population Figures Used to Calculate 2023 LIHTCs

March 31, 2023    

The IRS recently published Notice 2023-22 with the population figures used to calculate the calendar year 2023 LIHTC and private activity bond limits for all 50 states; Washington D.C.; and U.S. territories. According to the data, the population figures increased 0.4 percent from 2022 to 2023....

IRS Grants Owner Extension to Group Buildings as Part of Single Multi-Building Project

February 23, 2023    

A private letter ruling (PLR) is a written response issued by the IRS to an owner or taxpayer when the owner asks a question about the tax effects of its acts or transactions. The questions posed by site owners usually entail uncertainty about how to handle a situation and the need for guidance...

Clarification on Applying the Vacant Unit Rule at Mixed-Income Sites

January 31, 2023    

Q I have a mixed-income site. The last issue of the Insider seemed to indicate that credit may be claimed on vacant units if reasonable attempts are being made to rent the unit and no units are rented to non-qualified households...

White House Announces Actions to Protect Renters and Promote Affordability

January 31, 2023    

The White House recently announced new actions to increase fairness in the rental market and further principles of fair housing. Notable actions announced include: 

Bill Would Expand LIHTC Housing Options for Formerly Homeless Students

January 2, 2023    

In November, U.S. Senators Angus King (I-Maine), Sherrod Brown (D-Ohio), and Rob Portman (R-Ohio) and Rep. Brad Wenstrup (R-Ohio) and Rep. Danny Davis (D-Ill.) from the House introduced “The Housing for Homeless Students Act of 2022” to help homeless students, veterans, and foster...

IRS Distributes Unused 2022 LIHTC Allocation

October 31, 2022    

The IRS recently published the amounts of unused low-income housing tax credit carryovers for calendar year 2022. The carryover allocation is made up of LIHTCs that are not allocated by states but are added to a national pool and redistributed to qualified states that apply for the additional...

NCSHA Reports Scramble to Fill Funding Gaps for LIHTC Developments

September 30, 2022    

A recent report released by the National Council of State Housing Agencies (NCSHA) highlights the actions state housing finance agencies are going through in this period of increased labor, materials, and financing costs to ensure pending LIHTC projects can proceed as planned. The report is...

How Inflation Reduction Act Targets Energy Efficiency in Affordable Housing

August 30, 2022    

On Aug. 16, President Biden signed into law the new Inflation Reduction Act (IRA), which includes significant investments to address climate change in affordable housing. The law provides billions of dollars in funding through direct spending and tax credits that can be used to preserve...

White House Hosts Summit on Eviction Prevention

August 30, 2022    

In early August, the White House hosted a virtual summit on “Building Lasting Eviction Prevention Reform.” As funds for Emergency Rental Assistance (ERA) are beginning to wind down, the meeting focused on the need for an all-out effort to build lasting eviction prevention reform.