News

HUD recently released Notice H 2013-23 to revise the financial reporting requirements for small multifamily housing projects. This Notice, which comes as a part of the White House’s Rental Policy Working Group’s (RPWG) changes to auditing standards and requirements, would relieve owners of small multifamily projects of submitting audited financial statements.

The U.S. Department of Agriculture (USDA) has announced that Tammye Treviño, who most recently served as Administrator of the Rural Housing Service (RHS), has left the agency to become Regional Director of the Department of Housing and Urban Development’s (HUD’s) Region VI, based in Texas.

Two Committees within the California State Assembly, the Committee on Housing and Community Development and the Labor and Employment Committee, recently approved the California Homes and Jobs Act of 2013 (SB 391).

Senator Patrick Leahy (D-VT) recently introduced the Historic Downtown Preservation and Access Act (S. 1421) to amend Section 47 of the Internal Revenue Code to provide a refundable tax credit for the installation of sprinklers and elevators in historic structures.

A recent report conducted by Rapoza Associates entitled “The Low-Income Housing Tax Credit: Overcoming Barriers to Affordable Housing in Rural America” examines the importance of the Low-Income Housing Tax Credit (LIHTC) in the developing and preserving affordable housing in rural communities.

Tennessee Housing Development Agency (THDA) will host a Public Hearing for the 2014 Tennessee LIHTC QAP on August 29, 2013 from 10:00 am to 11:00 am

The Colorado Housing Finance Authority will hold two public hearings to receive input from the public to develop the 2014 Colorado QAP.

HUD recently released its proposed fiscal year (FY) 2014 fair market rents (FMRs) for the Housing Choice Voucher (HCV) and Moderate Rehabilitation Single Room Occupancy programs.

House Finance Services Chairman Jeb Hensarling (R-TX) recently announced intentions to introduce the Protecting American Taxpayers and Homeowners (PATH ) Act, a measure which according to Hensarling, would create a more sustainable housing finance system.

New York State Homes and Community Renewal (HCR) released its proposed 2013/14 Qualified Allocation Plan (QAP) for the federal and state Low-Income Housing Tax Credit Programs. They have also announced a series of public hearings to solicit comments on the two plans.

Senators Maria Cantwell (D-WA) and John Barrasso (R-WY) recently introduced the Native American Housing Assistance and Self-Determination Reauthorization Act of 2013 (S. 1352), which among other provisions, would increase low-income housing tax credit (LIHTC) incentives for developments serving Native American communities.

Rutgers University in partnership with National Park Service (NPS) has released its fourth annual study, entitled “Annual Report on the Economic Impact of the Federal Historic Tax Credit for FY 2012”, which details the economic impact of the federal Historic Rehabilitation Tax Credit (HTC).