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Departments



Report Finds Tight Rental Markets, Rising Cost-Burdened Households

February 11, 2020    

Harvard’s Joint Center for Housing Studies (JCHS) recently released its annual “America’s Rental Housing 2020” report. The new report shows that rental markets are still extremely tight despite slowing demand and the continued strength of new construction. The JCHS report...

Congressman’s Report Calls for Increased LIHTC Allocation

February 11, 2020    

Representative Earl Blumenauer, D-Ore., recently released a report entitled, “Locked Out: Reversing Federal Housing Failures and Unlocking Opportunity.” The report identifies the LIHTC program as the largest form of federal assistance to state and local governments in the form of a...

House Committee Discusses LIHTC as Infrastructure Investment

February 11, 2020    

The House Ways and Means Committee recently held a hearing called “Paving the Way for Funding and Financing Infrastructure Investments.” The hearing was held the same day that House Democrats unveiled their outline for a $760 billion infrastructure package that includes LIHTC as a...

Temporarily Displacing Residents

January 9, 2020    

Q We need to repaint some of the low-income units at our tax credit site. To accomplish this, we must temporarily displace residents—that is, have residents move out of their units—for a few days. Will the owner of our site stay...

Counting Rent Paid by Guarantors as Income

January 9, 2020    

Q My management company will let a qualified applicant with no credit history sign a lease if she can find a guarantor. One applicant told us that if we rent a low-income unit to him, his guarantor will pay the rent for two months. If we...

Unreported Marriage with No Household Change

January 9, 2020    

Q Our site is a project-based Section 8 site with LIHTC units. We recently found out that one of our residents who has lived at the site since 2007 got married in 2014 and never reported it. We know her husband doesn’t live in the unit...

Appeals Court Dismisses Discrimination Case Against Treasury and OCC

January 9, 2020    

The Fifth Circuit Court of Appeals recently dismissed a discrimination lawsuit against the U.S. Department of Treasury and the Office of Comptroller of the Currency (OCC). This long-running lawsuit was brought by the Inclusive Communities Project (ICP), the same organization that pursued a...

FDIC, OCC Propose to Modernize Community Reinvestment Act Regs

January 9, 2020    

The Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC) recently announced proposed regulations that may affect LIHTC investments. The proposed regulations are intended to modernize the agencies’ regulations under the Community Reinvestment...

AHCIA Provisions Absent from Year-End Tax Bill

December 23, 2019    

The fiscal year (FY) 2020 appropriations bills recently passed through Congress and was signed by President Trump before the Dec. 20 deadline, averting a government shutdown like the one experienced with the FY 2019 spending bills. The FY 2020 measures include appropriations for Transportation-...

IRS Issues Final Regs on Opportunity Zones

December 23, 2019    

Nearly two years after the Opportunity Zone initiative was enacted into law as part of the 2017 Tax Cuts & Jobs Act, the Treasury Department and the IRS has issued final regulations on Qualified Opportunity Funds. The final regulations are a modification and merger of the first and second...

IRS Releases 2020 LIHTC, Private Activity Bond Volume Caps

December 4, 2019    

The IRS recently published Revenue Procedure 2019-44, which provides the per capita and small state minimum levels for the LIHTC and Private Activity Bonds (PABs). These volume cap figures are adjusted annually for inflation. And, for the LIHTC, the volume cap includes the temporary 12.5 percent...

Bill Introduced to Address Rising LIHTC Rents

December 4, 2019    

Representative Yvette Clarke (D-NY) recently introduced the “Affordable Housing and Area Median Income Fairness Act of 2019” (H.R.4984). The bill attempts to change how HUD calculates the area median income (AMI). For Clarke’s constituency, the AMI calculation incorporates not...