LIHTC

ICAST’s IRA & BIL Instant Benefit Estimate Calculator is now available on NH&RA’s website under the Resources section.

The US House of Representatives has passed HR 1, its $819 billion economic stimulus bill on a vote of 244-188. The House adopted several amendments prior to passing the measure that clarify how funds dedicated to transportation can be spent and strengthening whistleblower protections. The US Senate is scheduled to consider its measure, which is considerably different, in the next few days.

At press time the Economic Recovery Act was still in conference committee and specific text was not available; however, Congressional leadership has indicated that House a compromise has been agreed upon that will cost about $789 billion. Reports of housing provisions include…

The conference committee has released a summary of appropriations provisions in HR 1: The American Recovery and Reinvestment Act. The measure provides $311 billion in appropriations. Highlights include:

The California Tax Credit Allocation Committee (TCAC) has issued a memo in response to public comments received with regards to proposed regulation changes to the 2009 low-income housing tax credit program. Pursuant to comments received, TCAC will offer a set of revised recommendations to Committee for consideration and adoption on February 25, 2009.

The Alabama Housing Finance Authority’s application cycle for 2009 low-income housing tax credits will include a mandatory online portion.

The United State Senate has approved HR1: The American Recovery and Reinvestment Act of 2009 on a vote of 61-37. The Congressional Budget Office reports that the current version of the measure would cost $838 billion over ten years. Only three Republicans voted in favor of the measure. The package now heads to a House-Senate conference to resolve differences between the two versions. A compromise measure is expected towards the end of the week. A summary of the key housing and tax credit related provisions include…

House Financial Services Committee Chair Barney Frank (D-Mass.) laid out the committee’s policy priorities for 2009 in a wide ranging press conference today, February 3. The agenda includes a number of affordable housing related items.

The North Dakota Housing Finance Agency has published its final 2009 qualified allocation plan for its low-income housing tax credit program.

Over the weekend Senate Democrats and several moderate Republicans negotiated a compromise version of HR1: The American Recovery and Reinvestment Act of 2009 that appears to be poised to pass the United States Senate on Tuesday. A key procedural vote to end debate on the measure passed the Senate on a 61-36 vote Monday evening (February 9).

The Affordable Housing Tax Credit Coalition (AHTCC) is accepting entries for the 15th Annual Charles L. Edson Tax Credit Excellence Awards competition.

Global Green USA has completed its 4th annual analysis and ranking this year after looking at the 2008 Qualified Allocation Plans (QAPs) for all 50 states.

The California Tax Credit Allocation Committee has issued a notice that defines 2009 threshold basis limits for 9% and 4% tax credit applications.