The Internal Revenue Service (IRS) published the 2019 state caps for the Low Income Housing Tax Credit (LIHTC) and Private Activity Bonds (PAB) in Revenue Procedure 2018-57. The LIHTC is the greater of $2.75625 times the state population or a minimum of $3,166,875. The PAB volume cap is the greater of $105 times the state […]
NH&RA member firm Dominium recently published three articles on income averaging. The first article dispels the myth that there is an income averaging ‘cliff’ when one unit on the property goes out of compliance. Rather, 40 percent of units must serve households that on average make 60 percent of the area median income.
The U.S. Department of the Treasury released its 2018-2019 Priority Guidance Plan. Part one covers implementation of the Tax Cuts and Jobs Act of 2017. Notably, the first item in this section is issuing regulations for LIHTC income averaging. The plan also includes issuing regulations for utility allowances under the LIHTC, clarification and revision of […]
Politico convened a group of 14 bipartisan business leaders, thinkers and policymakers to explore barriers to opportunity in America. Three of their nine recommendations focus on housing: prioritize internet connectivity, ease zoning restrictions in some cities and rethink housing rehabilitation policies in other cities.
Funding for the federal government was scheduled to run out on Friday, Dec. 7. On Thursday, Dec. 6 Congress passed a short term continuing resolution that funds the remaining seven appropriations subcommittee bills through Dec. 21. President Trump signed the bill on Friday, Dec. 7.