News

In a key development, the U.S. Treasury Department has modifies original deadline for disbursement of low-income housing tax credit exchange program (Section 1602) funds by state housing credit agencies to assisted projects. The law requires that state agencies return to Treasury any funds they receive that are not used to make subawards before January 1, 2011.

The Obama Administration recently announced nine more individuals who will serve as their State’s Director of Rural Development at the U.S. Department of Agriculture (USDA). The directors will work with USDA to help manage over 40 programs that USDA’s Rural Development administers to provide affordable housing and improve the economic stability for rural communities across the country.

The U.S. Department of the Treasury today announced its latest wave of funding awards through the Section 1602 Tax Credit Exchange Program, provided by the American Recovery and Reinvestment Act of 2009.

The South Carolina State Housing Finance and Development Authority recently amended its Low-Income Housing Tax Credit Assistance Program (TCAP) Implementation Plan in order to help move awardees and applicants toward construction.

The Connecticut Housing Finance Agency (CHFA) has released its draft 2010 qualified allocation plan (QAP) and is accepting comments from the public by September 21.

The Connecticut Housing Finance Agency recently released for comment its draft 2010 Standards of Design and Construction, announced in conjunction with the development of its draft 2010 qualified allocation plan (QAP).

The Hawaii State Department of Business, Economic Development & Tourism recently published its 2008 edition of the State of Hawaii Data Book.

The Louisiana Housing Finance Agency (LHFA) will hold a public hearing on September 3, 2009 in Baton Rouge to solicit comments regarding the state’s Weatherization Assistance Program, established by the American Recovery and Reinvestment Act of 2009.

The American Institute of Architects (AIA), in conjunction with the U.S. Department of Housing and Urban Development (HUD), recently announced that it was accepting applications for the 2010 Housing and Urban Development Design Awards Program.

The Internal Revenue Service (IRS) recently released a notice inviting public comments on Form 8586, Low-Income Housing Tax Credit.

Tax Credit Advisor, July 2009: The Historic Tax Credit Coalition, an advocacy group, has crafted a package of proposed legislative changes to the federal historic rehabilitation tax credit program it hopes Congress will pass later this year. The prospects for passage are currently unclear.

The Kentucky Housing Corporation (KHC) will hold a public hearing on its low-income housing tax credit qualified allocation plan (QAP) for calendar 2010 on August 25 at KHC’s headquarters in Louisville.