Reps. Mike Carey (R-OH) and Jimmy Panetta (D-CA) introduced the Affordable Housing Credit Carryback Act (H.R. 9012) to allow 5-year carrybacks for LIHTC.
Why This Matters: This proposal will provide investors with additional flexibility and capacity to invest in LIHTC.
What’s Next: The bill was referred to the House Ways and Means Committee, with the standalone measure intended to better position the proposal for inclusion in a viable tax package.
HUD issued a notice requesting comments on HUD’s use of Form HUD-9886-A to verify tenants’ citizen and immigration status in Housing Choice Voucher and Public Housing programs. HUD seeks comments on whether the information collection is necessary, the accuracy of HUD’s burden estimates, ways to improve the quality of the information collected, and ways to […]
National Multifamily Housing Council (NMHC) published its Housing Affordability Toolkit. Top Findings Include:
HUD’s newly released LIHTC Tenant Tables for 2023 show that 57.2% of LIHTC residents are classified as ‘extremely low-income,” earning 30% or less of area median gross income (AMGI), the highest share ever recorded in this dataset. By the Numbers: Go Deeper: See Novogradac’s writeup for a detailed breakdown and visual representation of the data.
Representative Mike Carey (R-OH-15) introduced the Housing Opportunities and Preservation Enhancement (HOPE) Act on July 2, which would create new tax incentives targeted to individual investors that encourage the renovation and rehabilitation of existing rental properties for preservation as affordable housing. The legislation would require at least 70% of incentivized units to be rent-restricted for […]