General News

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.

In a new brief, Federal Reforms to Strengthen Housing Stability, Affordability and Choice, the authors highlight the following eight frequently proposed federal reforms to existing housing programs and policies, identify their support among relevant housing stakeholders, and discuss evidence of their impact on housing stability, affordability and choice.

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.

The 8-to-1 vote will initially make $400,000 available in $25,000 homeownership and improvement grants, as well as in mortgage assistance for Black residents, primarily those can show they are direct descendants of individuals who lived in the city between 1919 and 1969 and suffered from such discrimination.

A bill in the Arkansas House of Representatives (H.B. 1555) would increase the State Historic Tax Credit (HTC) from $4 million to $10 million and extend the sunset date from December 31, 2027, to December 31, 2037.

Housing Association of Nonprofit Developers (HAND) released an online Housing Indicator Tool (HIT), a platform that will provide the most up-to-date information on housing production across the region, with a comparison to established local housing targets from the Capital Region’s housing affordability challenge.

Legislation introduced in the Illinois Legislature would create a state LIHTC. S.B. 2445 and H.B. 3213 would create the Build Illinois Homes Tax Credit as of January 1, 2021, with a $35 million annual allocation, with 24.5 percent of the credits allocated to the City of Chicago Department of Housing.

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.

Legislation in the Missouri legislature would reduce the annual allocation of the State LIHTC from $6 million to $2 million and would set an aggregate cap of $80 million on LIHTCs for properties financed with nine percent LIHTCs. H.B. 1095 includes reductions on several Missouri state credits. The bill would add a sunset date of […]

A bill in the Rhode Island General Assembly (H.B. 5458) would eliminate the sunset provision for the State Historic Tax Credit (HTC). The credit is currently set to expire when the maximum aggregate credits are exhausted or June 30, 2021, whichever comes first. The measure has been referred to the House Finance Committee, which has […]

The South Carolina Department of Revenue released a revenue ruling to provide guidance for the State LIHTC, which was enacted in May 2020. Revenue Ruling 21-5 provides an overview of the Federal and State LIHTC. The revenue ruling provides questions and answers on such issues as what constitutes a qualified project, information about an eligibility […]

The Virginia legislature recently approved a bill to create a State LIHTC, sending the legislation to Gov. Ralph Northam’s (D) desk. S.B. 1197 creates the Virginia housing opportunity tax credit with a $15 million annual allocation for five years. The credit would be effective for taxable years beginning on or after January 1, 2021, and […]