General News Category Archives

Virginia Governor Signs State LIHTC Bill

Virginia Gov. Ralph Northam (D) signed into law legislation creating a state LIHTC. S.B. 1197 creates the Virginia housing opportunity tax credit, which will have a $15 million annual allocation for five years, applying to taxable years beginning on or after January 1, 2021. The state credit will match federal four and nine percent LIHTC allocations.

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NHT Report Update Shows More States Incentivized Energy, Water Efficiency in Nine Percent LIHTC Properties in 2020

The National Housing Trust (NHT) released a 2020 update to its 2017 State Strategies to Increase Energy and Water Efficiency in Low Income Housing Tax Credit Properties, which reviewed hundreds of state Housing Finance Agency (HFA) documents, including QAPs, LIHTC applications, Design and Construction Guidelines and other documents, to identify the ten most prominent strategies in use by HFAs to advance water and energy efficiency.

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HUD Updates FMRs for Areas in Maine and Texas

HUD updated the fair market rents (FMRs) for the Housing Choice Voucher Program, Moderate Rehabilitation Single Room Occupancy Program and other programs for Fiscal Year 2021 for four areas based on new survey data: Houston-The Woodlands-Sugar Land, TX HUD Metro FMR Area (HMFA), Knox County, ME, Lincoln County, ME and Waldo County, ME. Further, HUD responds to comments received on the FY 2021 FMRs.

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Massachusetts Doubles Annual State LIHTC Allocation

Massachusetts Governor Charlie Baker (R) signed an Act Enabling Partnerships for Growth (H. 5250), which includes doubling the annual allocation of state LIHTCs from $20 million to $40 million through January 1, 2025. The bill also makes more than $625 million in capital authorizations, as well as policy provisions to boost economic growth.