News

The Virginia Housing Development Authority (VHDA) released an update for potential applicants regarding reservation applications to the Low Income Housing Tax Credit (LIHTC) program.

The Texas Department of Housing and Community Affairs (TDHCA) has posted final versions of the 2013 Housing Tax Credit Program Qualified Allocation Plan (QAP) and 2013 Uniform Multifamily Rules, as approved by the Governor and the Texas Register. TDHCA has also posted a list of frequently asked questions on its website related to the competitive (9%) housing tax credit program.

In response to the American Taxpayer Relief Act of 2012, the Kentucky Housing Corporation (KHC) is modifying the closing extension policy of the 2013 Qualified Allocation Plan (QAP).

In response to the, H.R. 8, American Taxpayer Relief Act of 2013, the Arizona Department of Housing (ADOH) requested approval from Governor Brewer for adjustments to the 2013 Qualified Allocation Plan. The proposed changes include extending the application deadline by two months from March 1, 2013 to May 1, 2013.

The U.S. House of Representatives Committee on Financial Services Chairman Jeb Hensarling today announced subcommittee assignments for the panel’s Republican members. Chairman Hensarling will serve as an ex officio member of all subcommittees, as will former Chairman Spencer Bachus, who is serving as chairman emeritus in the 113th Congress.

Missouri State Senator Will Krause (R-Jefferson City) recently introduced SB 163, which reauthorizes certain tax credits, prohibits further authorization of certain tax credits, and modifies state historic preservation tax credit (HPTC) and low-income housing tax credits (LIHTCs).

The New Market Tax Credit Coalition recently released a report entitled “NMTC: At Work in Communities Across America” which examines 92 case studies that profile of businesses, projects, and communities that have received assistance through the New Markets Tax Credit (NMTC).

Smart Growth America recently published a report entitled “Federal Involvement in Real Estate: A call for examination”, to look at the effectiveness of various federal real estate investment programs and determine how well these programs influence development.

Nebraska State Senator Jeremy Nordquist recently introduced the Nebraska Job Creation and Mainstreet Revitalization Act (LB 191), which would create a state historic rehabilitation tax credit for historic, income-producing properties in Nebraska.

Today Maryland’s Governor Martin O’Malley announced he has proposed $25 million for the Rental Housing Works (RHW) program in his FY 2014 budget. The RHW program is a gap financing program for projects funded using DHCD’s Multifamily Bond Program (MBP); RHW applications are submitted in conjunction with a MBP application.

The Indiana Housing & Community Development Authority (IHCDA) has announced Jacob Sipe as its new executive director, effective as of January 14, 2013.

The California Tax Credit Allocation Committee (CTCAC) released two reminders to previous tax credit recipients. All 2011 low-income tax credits recipients of 9% competitive credits must submit documentation to demonstrate the progress of the project and its continuing feasibility in order to meet the Final Reservation criteria.