Online Alerts

Senate Finance Committee Advances IRS Commissioner Nominee

August 9, 2018    

By a vote of 14 to 13, along party lines, the Senate Finance Committee recently voted to advance Charles Rettig’s nomination as IRS Commissioner to the full Senate. Rettig is a tax attorney at the Beverly Hills law firm Hochman, Salkin, Rettig, Toscher & Perez, P.C. who has spent most...

Senator Booker Proposes Bill to Curb Exclusionary Zoning

August 9, 2018    

Senator Cory Booker (D-N.J.) recently introduced the Housing, Opportunity, Mobility and Equity (HOME) Act, which is designed to promote inclusionary zoning policies and improve housing affordability. The bill directs all jurisdictions receiving grants under the Community Development Block Grant...

Wells Fargo Discloses Federal Probes Regarding Use of LIHTC

August 9, 2018    

Wells Fargo & Co. recently disclosed in a regulatory filing that multiple U.S. agencies are probing into the bank's use of low-income housing tax credits. "Federal government agencies have undertaken formal or informal inquiries or investigations" about how Wells Fargo bought,...

JEC Releases Report on the State of the Rural Economy

July 19, 2018    

Senator Martin Heinrich (D-NM), Ranking Member of the Joint Economic Committee, recently released a report entitled “Investing in Rural America,” which provides a deep dive into the current state of the rural economy and the policies that may help advance opportunity in rural areas...

Report Examines Tax Reform’s Effect on LIHTC Program

July 19, 2018    

According to a new report from the Urban Institute, a nonprofit research organization, although the LIHTC is the biggest source of funding for new affordable rental housing, it faces legislative and economic challenges.

NLIHC Report Highlights Affordability Issues Across Country

July 19, 2018    

The National Low Income Housing Coalition (NLIHC) recently released its annual report, Out of Reach. It documents the gap between wages and the cost of rental housing across the United States. According to the findings, even with the recent wage growth for the lowest-paid workers, there is still...

NCHFA Report Summarizes Impact of LIHTC in North Carolina

June 14, 2018    

According to a recent report issued by the North Carolina Housing Finance Agency, the LIHTC has created $75 billion in property value, $923 million in tax revenue, and 137,000 jobs in North Carolina over the history of the program. The LIHTC has financed 83,000 apartments in the state, including...

HUD Announces "Protect Our Kids!" Campaign

June 14, 2018    

HUD Secretary Ben Carson recently announced the “Protect Our Kids!” Campaign, a Department-wide enforcement effort to protect young children from lead poisoning in older housing. The campaign aims to get landlords and sellers of older homes to fulfill responsibilities to disclose...

IRS Publishes Revised Form 8609

June 14, 2018    

Following the authorization from the 2018 omnibus spending bill passed earlier this year for the “income-averaging” option for minimum set-aside elections in the LIHTC program, the IRS has published a revised Form 8609. Form 8609 is used for Low-Income Housing Credit Allocation...

Philly Task Force on Eviction Prevention Releases Draft Report

May 10, 2018    

The city of Philadelphia's Task Force on Eviction Prevention and Response recently released a draft report outlining 17 recommendations for eviction prevention and the provision of additional legal aid for tenants.

Treasury and IRS Seek Comments for Priority Guidance Plan

May 10, 2018    

The Department of the Treasury and Internal Revenue Service (IRS) recently published Notice 2018-43 soliciting public comment on recommendations for items that the Treasury/IRS should include in its 2018–2019 Priority Guidance Plan. The Priority Guidance Plan identifies guidance projects...

Report Looks at Tradeoffs Faced by Low-Income Families with Children

May 10, 2018    

A recent report entitled “Low-Income Families with Children Face Affordability/Unit Size/Neighborhood Opportunity Tradeoff in Housing Search,” issued by Brandeis University’s School of Social Policy and Management, looked at the siting of lower-cost rental housing homes that...