News

The IRS has issued Revenue Procedure 2009-40, which specifies the amount of additional low-income housing tax credits allocated to qualifying states from the 2009 National Pool. These are prior-year housing credits that went unused by other states, and boost the 2009 housing credit ceiling of recipient states. The states allocated additional credits and the amount received by each are:

The Missouri Housing Development Commission has hired a team of NH&RA members to determine how to boost the value of Missouri’s state low-income housing tax credit to 65 cents, from its current value of 40 cents.

The U.S. Department of Housing and Urban Development (HUD) has released the latest version of its publication, U.S. Housing Market Conditions, for the second quarter of 2009.

The U.S. Department of Housing and Urban Development (HUD) has removed a final regulation that prohibits the use of project labor agreements in HUD-assisted construction contracts.

The U.S. Department of Housing and Urban Development (HUD) has delayed once more, until September 30, 2009, the effective date of a final rule entitled, Refinement of Income and Rent Determination Requirements in Public and Assisted Housing Programs.

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.