LIHTC

senate-seal

Tax Bill’s Path Forward in the Senate – Advocacy Needed

The Senate has yet to take up the Tax Relief for American Families and Workers Act (H.R. 7024), which passed the House in January and contains two critical LIHTC provisions.

Treasury

Secretary Yellen Testifies Before House Ways & Means Committee

During her testimony before the House Ways and Means Committee Treasury Secretary Janet Yellen said, “President Biden and I are taking additional actions to bring down the cost of key household expenses like energy, prescription drugs and housing.”

HUD

HUD Publishes 2024 Income Limits, Implements Ten Percent Cap

HUD published the 2024 Income Limits, which determine eligibility for assisted housing programs, including the Public Housing, Section 8 project-based, Section 8 Housing Choice Voucher, Section 202 housing for the elderly and Section 811 housing for persons with disabilities programs, as well as Multifamily Tax Subsidy Project (MTSP) income limits that determine eligibility for LIHTC and tax-exempt private activity bond (PAB)-financed properties.

General News

Tax Court Rules on Including Construction Period Finance Costs in LIHTC Basis

In the 23rd Chelsea Associates case, the U.S. Tax Court ruled that an appropriate share of finance costs attributable to the construction period of the affordable housing part of a project can be included in tax credit basis.

senate-seal

120 Organizations Join Letter to Senate; Continue Advocacy Needed

NH&RA joined with 120 national and state affordable housing organizations in a letter to Senate leadership, urging the Senate to enact the LIHTC provisions included in the legislation.

house-of-representatives-seal

House Approves Tax Package with LIHTC Priorities, Advocacy Needed in the Senate

Last week, the House of Representatives voted overwhelmingly (357-70) to pass The Tax Relief for American Families and Workers Act of 2024 (H.R. 7024).

General News

ACTION Campaign Released Updated Fact Sheets

The ACTION Campaign updated their national, state and district fact sheets highlighting the newest data on the Housing Credit and its impact in communities across the nation.

Treasury

Over 46,000 Applications Received for Low-Income Communities Bonus Credit Program

The U.S. Department of the Treasury, Internal Revenue Service (IRS) and Department of Energy (DOE) announced that the Low-Income Communities Bonus Credit Program received more than 46,000 applications within the initial 30-day application period.

Wisconsin

Wisconsin Now Accepting Applications for Federal and State Tax Credits

The Wisconsin Housing and Economic Development Authority (WHEDA) is now accepting applications for the upcoming round of federal and state tax credits, which finance affordable workforce housing.

QAP Louisiana

Louisiana 2024 LIHTC Application Log

The Louisiana Housing Corporation released the 2024 LIHTC Application Log, which details projects requested in the state, the type of construction, total units and the amount of the project. 

QAP California

CTCAC to Hold a Public Meeting on July 26 

The California Tax Credit Allocation Committee (CTCAC) will hold a public meeting on July 26 at 9:15 a.m. PT (901 P Street, Room 102, Sacramento, CA 95814) or via Microsoft Teams.

General News

National Park Service Revises Historic Tax Credit Application Form

The National Park Service (NPS) issued revised application forms and instructions for Historic Tax Credits (HTCs) ahead of an August 15 deadline.

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