General News
Oregon Bill Reforms Business Energy Tax Credit Program
Oregon Governor Ted Kulongoski recently signed into law House Bill 3680, which restructures the state’s business energy tax credit (BETC) program.
HUD Updates LIHTC Database
The U.S. Department of Housing and Urban Development’s Office of Policy Development and Research recently announced that it has released updates to its low-income housing tax credit (LIHTC) database.
Senate Bill Would Extend LIHTC Carryback to Five Years
U.S. Senator Jeff Bingaman (D-NM) recently introduced new legislation aimed at stimulating new affordable housing development by adding incentives to the low-income housing tax credit (LIHTC) program.
Geithner to Discuss Future of Housing Finance
U.S. Treasury Secretary Timothy Geithner will present the Obama administration’s broad vision for the future of housing finance, including all private and public entities that support the mortgage market, to the Housing Financial Services Committee on Tuesday, March 23.
NY State Legislation Would Expand Historic Tax Credit
New York State Senator David Valesky this month introduced legislation that would expand provisions in the state’s Historic Rehabilitation Tax Credit program.
White House FY 2011 Budget Calls for Funding Reductions at HUD
On February 1, the White House unveiled a proposed federal budget for Fiscal Year 2011 that calls for overall funding cuts at numerous federal agencies, including at the U.S. Department of Housing and Urban Development (HUD). Fiscal Year 2011 begins October 1st.
IRS Issues Notice on Treatment of Exchange Funds
The Internal Revenue Service has issued a new notice (2010-18) that provides guidance in several aspects regarding the proper treatment of Section 1602 low-income housing tax credit (LIHTC) credit exchange funds.
Virginia Announces Update to LIHTC Application
The Virginia Housing Development Authority (VHDA) has issued a third update to its 2010 low-income housing tax credit reservation process.
Tennessee Releases Attachments to LIHTC Applications
The Tennessee Housing Development Agency (THDA) has released three additional attachments to its 2010 low-income housing tax credit program’s initial application.
Illinois Agency Announces New Preservation Initiative
Illinois Housing Development Authority (IHDA) Executive Director Gloria L. Materre, recently announced the launch of a new statewide initiative to preserve affordable rental homes in Illinois.
California Posts LIHTC Question and Answers
The California Tax Credit Allocation Committee (TCAC) has posted the questions and answers from its recent 2010 Application Workshop training in Sacramento, Los Angeles, San Diego and Oakland in late February.
Agencies Adopt CRA Questions and Answers
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Office of Thrift Supervision recently adopted the final set of Interagency Questions and Answers Regarding Community Reinvestment.