NH&RA is your one-stop shop for critical affordable housing facts & figures.
The Internal Revenue Service each month publishes the credit percentages that apply to low-income housing tax credit buildings that are placed in service that month. There are two separate rates – one for 70% present value credit (PVC) and one for the 30% present value credit. The maximum 70% rate is available for low-income new construction and substantial rehabilitation expenditures that aren’t federally subsidized (e.g.; funded with tax-exempt bond proceeds or with below market federal loans). The maximum 30% rate applies to acquisition expenditures and to federally subsidized low-income new construction or substantial rehabilitation expenditures for low-income buildings.
Qualified Allocation Plans, or QAPs, detail the selection criteria and application requirements for housing tax credits and tax-exempt bonds. They typically lists all deadlines, application fees, restrictions, standards, and requirements. Housing Finance Agencies routinely draft new QAPs and hold a public forums to solicit comments about the proposed plan before adopting a final version.