Online Alerts

Online Alerts



Mayors Ask Congress to Include AHCIA in Year-End Tax Legislation

December 11, 2019    

A bipartisan group of 45 mayors from communities in 19 states and the District of Columbia recently sent a letter to Congressional leaders calling for the addition of the Affordable Housing Credit Improvement Act of 2019 (AHCIA) in any year-end legislative tax package. The letter said the LIHTC...

CohnReznick Releases 2019 LIHTC Investment Report

December 11, 2019    

Tax credit sites have recently enjoyed strong occupancy rates and healthy financial conditions, according to CohnReznick’s Tax Credit Investment Services’ annual report on the performance of sites financed with the federal LIHTC. The data in this report provide detailed insights into...

South Carolina Bill Would Create State LIHTC for Opportunity Zones

December 11, 2019    

Legislation recently introduced in the South Carolina Legislature would create a state-level LIHTC for sites in Opportunity Zones (OZs). All three co-sponsors are members of the Democratic Party, which is in the minority in the State House. The bill would automatically qualify LIHTC developments...

IRS Announces $2.7 Million in 2018 LIHTC National Pool Credits

November 7, 2019    

The IRS recently published Revenue Procedure 2019-41, which announced the amounts of unused LIHTC carryovers allocated to qualified states for calendar year 2019. Unused LIHTCs are oftentimes generated from small amounts of LIHTCs returned by affordable housing developments or from otherwise...

NCSHA Urges IRS to Improve Housing Credit Disaster Relief Guidance

November 7, 2019    

The National Council of State Housing Agencies (NCSHA) recently sent comments to the IRS on how it can improve LIHTC disaster relief guidance provided in Revenue Procedures 2014-49 and 2014-50. NCSHA submitted a letter in response to the IRS’ request for comments in Notice 2019-52....

FHFA: Fannie and Freddie Met Duty-to-Serve Requirements

November 7, 2019    

The Federal Housing Finance Agency (FHFA) recently released a report finding that in 2018 Fannie Mae and Freddie Mac met all their affordable housing goals and their obligations under the Duty-to-Serve Rule. The Duty-to-Serve program requires Fannie Mae and Freddie Mac to facilitate a secondary...

Candidates O’Rourke and Bennet Release Housing Plans

October 17, 2019    

Beto O’Rourke, a Democratic candidate for president and former U.S. Congressman from Texas, recently released a housing plan that aims to bring down rent by building six million housing units and rehabilitating existing public housing. According to his plan, low-income housing funded by...

Treasury, IRS Release 2019–2020 Priority Guidance Plan

October 17, 2019    

The Internal Revenue Service (IRS) this week released the 20192020 priority guidance plan, which established guidance priorities for the Department of the Treasury and IRS for the period from July 1, 2019, through June 30, 2020. The priority guidance plan contains 203...

LIHTC Pilot Program Facilitates Financing for Low-Income Housing Project

October 17, 2019    

An affordable housing community in Tennessee catering to seniors and disabled residents became the first property financed by HUD’s Atlanta office under the new Low-Income Housing Tax Credit (LIHTC) Pilot Program. The site, designed for elderly and disabled renters, is in Marshall County,...

Did Site Owner Make Additional Promises to Agency in Return for Credits?

September 18, 2019    

Maintaining the minimum set-aside and applicable fraction are a tax credit site manager’s two most important occupancy goals during the compliance period. But you must also be sure to find out whether the site owner made any extra promises to your state housing agency in return for its tax...

WSHFC Issues Report on Transfer Disputes in the LIHTC Program

September 18, 2019    

The Washington State Housing Finance Commission (WSHFC) recently released a report on transfer disputes, titled “Nonprofit Transfer Disputes in the Low Income Housing Tax Credit Program: An Emerging Threat to Affordable Housing.” The report discusses the recent increase in the number...

Sites Affected by California Wildfires Get Temporary Compliance Relief

September 18, 2019    

In response to the devastation caused by the 2018 California wildfire season, the IRS recently issued a notice to the state committee that administers federal and state low-income housing tax credits to extend the date of its compliance review of credits in the three affected counties to either...