LIHTC

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

Minnesota Housing announces that the deadline to submit 2023 Multifamily Consolidated RFP/2024 HTC Round 1 applications is July 13 by noon CT.

Last week, the Affordable Housing Credit Improvement Act was reintroduced in both the House and Senate as H.R. 3238 and S. 1557.

Kentucky Housing Corporation (KHC) announced corrections to instructions contained in their most recent version of the 2023-2024 Multifamily Guidelines and KHC also updated the Multifamily Guidelines and Scoring Workbook for the 2024 program year.

The Senate Committee on Banking, Housing and Urban Affairs held a nomination hearing for Dr. Jared Bernstein to be chairman of the Council of Economic Advisers and Solomon Greene to be an assistant secretary of Policy Development & Research at HUD and David Uejio to be assistant secretary for Fair Housing and Equal Opportunity at HUD.

A blog post from Bad Elphick with Novogradac explains the recent Financial Accounting Standards Board (FASB) Accounting Standards update, which makes investing in New Markets Tax Credits (NMTCs), Historic Tax Credits (HTCs), Renewable Energy Tax Credits (RETCS) and any new tax credits created in the future more attractive to investors.

In Notice 2023-22, the Internal Revenue Service (IRS) published the 2023 resident population figures, which are used to calculate the population-based component of LIHTCs and Private Activity Bonds (PABs).

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).