Online Alerts

Online Alerts



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...

HUD Sends Proposed Changes to Disparate Impact Regs to OMB

February 14, 2019    

HUD recently submitted to the Office of Information and Regulatory Affairs (OIRA) at the Office of Management and Budget (OMB) proposed changes to its 2013 Disparate Impact Rule. HUD’s disparate impact rule was enacted by HUD during the Obama administration and is used as a way to enforce...

Research Finds Millions of Families Live in Economic Uncertainty

February 14, 2019    

Prosperity Now, a national nonprofit dedicated to expanding economic opportunity for low-income families and communities in the United States, recently released a report called the “2019 Prosperity Now Scorecard.” The Scorecard ranks states on 52 outcome measures across five issue...

Report Characterizes Poverty in America

January 17, 2019    

The Hamilton Project of the Brookings Institution recently released an update of its study on poverty in America. For the past few years, the Hamilton Project has released an annual report characterizing poverty in America. The latest one, “Who was Poor in the United States in 2017,...

California’s New Governor Prioritizes Housing Supply Law Reform

January 17, 2019    

As part of his first proposed budget, new California Governor Gavin Newsom proposed to aggressively reform the state’s housing supply laws by withholding transportation funds from local governments that don’t meet new housing production targets. The governor also proposes overhauling...

NYC’s HPD Awards $18.1 Million in LIHTCs

January 17, 2019    

The New York City Department of Housing Preservation and Development (HPD) allocates a portion of the State of New York's federal Low Income Housing Tax Credit. The amount of HPD's authority is negotiated annually with the state. Typically, HPD allocates $12 to $14 million in credits per...