The Congressional Budget Office (CBO) released its Budget and Economic Outlook for 2023 to 2033, which includes the consumer price index (CPI) figure that has historically been used by HUD to determine income limits for LIHTC properties.
Eleven states, including California, Florida, Illinois, Indiana, Kentucky, Massachusetts, Oregon, New York, Pennsylvania, Texas and Washington, sent a letter to leaders of the Senate and House tax committees urging them to include LIHTC provision in a year-end bill.
Congress returns this week from the Thanksgiving holiday and the votes are in from all but three races.
NH&RA joined a letter organized by the ACTION Campaign to congressional leaders, urging the inclusion of crucial LIHTC provisions in any end-of-year legislation.
HUD published a Federal Register notice designating 2023 difficult development areas (DDAs) and qualified census tracts (QCTs).
IRS Revenue Procedure 2022-38 sets the per-capita multiplier for nine percent LIHTCs ($2.75) and the small state minimum ($3,185,000), as well as the private bond multiplier ($120) and the small state minimum ($358,845,000).
A new guide from HUD, Increasing the Supply of New Affordable Housing: Quick Guide to Using HUD’s Community Planning and Development (CPD) Programs, details funding sources available for affordable housing and provides case studies.
The National Low Income Housing Coalition and the Public and Affordable Housing Research Corporation’s (PAHRC) new joint report, Improving Low-Income Housing Tax Credit Data for Preservation, examines the extent to which housing finance agencies (HFAs) provide data on LIHTC properties at the state and local levels and analyzes the catalysts, challenges and necessary resources impacting their ability to collect, maintain and report LIHTC property data to HUD and the wider public.
The much-anticipated average income regulations have cleared the Treasury Department and are now under review by the White House Office of Information and Regulatory Affairs (OIRA).
Last week, the House passed the Inflation Reduction Act along a party line vote and on Tuesday, President Biden signed the bill, enacting it into law.
Last week the Senate Finance Committee held a hearing on The Role of Tax Incentives in Affordable Housing.
Last week, a bipartisan group of lawmakers sent a letter to the Department of Treasury and Internal Revenue Service urging the expedited release of a final rule on income averaging under the LIHTC program.