LIHTC

The Arizona Department of Housing is offering three upcoming worshops on the Low Income Housing Tax Credit (LIHTC). The first workshop will focus on the LIHTC application process on Jan. 23 from 9 am – 3 pm at the Desert Willow Conference Center in Phoenix. On Feb. 4 and 5 they will offer the LIHTC […]

The Multifamily Programs office of the Tennessee Housing Development Agency (THDA) sent an email providing several updates on its activities. THDA has yet to publish its 2019 Multifamily Tax-Exempt Bond Authority (MTBA) and Competitive Low Income Housing Tax Credit applications but wrote that they are under development and should be available soon.  

Minnesota Housing published guidance for the use of income averaging with Low Income Housing Tax Credit (LIHTC) properties. Eligible properties include new LIHTC applications beginning with Round 2 of Minnesota Housing’s 2019 LIHTC Program and previously selected LIHTC projects that have not yet filed Form 8609 with the IRS.

The Colorado Housing and Finance Authority (CHFA) will implement a new income averaging policy and income averaging compliance guidelines as part of the 2019 Qualified Allocation Plan. The policy is effective as of Jan. 1, 2019. CHFA also released an updated income averaging FAQ.

Save the Date What:                    2019 LIHTCP Application Workshop When:                  Tuesday, April 9, 2019 Where:                 Holiday Inn Hotel & Suites, South Charleston, WV Registration materials and hotel room block information will be forthcoming. Thank you… Michelle Michelle L. Wilshere, CPA, MBA Senior Manager of the Low-Income Housing Tax Credit Program West Virginia Housing Development Fund 5710 […]

Congress is readying a short-term continuing resolution that would fund the government through Feb. 8 and avert a partial government shutdown on Friday, Dec. 21. Seven appropriations subcommittee bills, including Transportation-HUD, still have yet to receive funding for all of Fiscal Year (FY) 2019. Five of the twelve appropriations subcommittee bills are funded for all of FY 2019 and won’t need a CR to continue operating.

House Ways and Means Chairman Kevin Brady (R-Texas) released a third iteration of a year-end tax package. The new version includes the same provision in his original and second bill that clarifies that veterans are a specified group for preferences within the Low Income Housing Tax Credit (LIHTC) program and extends the LIHTC public use provisions from nine percent allocations to also include four percent bond allocations.

At the Dec. 13 meeting, the Board of Directors of the Florida Housing Finance Corporation (Florida Housing) approved a portfolio preservation action plan.

The 2019-2020 Qualified Allocation Plan approved by the Virginia Housing Development Authority is now available.

The New Hampshire Housing Finance Authority (NHHFA) recently issued its Income Averaging (IA) policy. Both four and nine percent Low Income Housing Tax Credit projects are eligible to select IA as a minimum set-aside.

House Ways and Means Committee Chairman Kevin Brady (R-TX) introduced a new year-end tax relief package. The bill includes the same provision in his original bill that clarifies that veterans are a specified group for preferences within the Low Income Housing Tax Credit (LIHTC) program and extends the LIHTC public use provisions from nine percent allocations to also include four percent bond allocations.

The ACTION Campaign updated its district fact sheets with new data to show the LIHTC’s impact in each congressional district. Last month they released the updated state fact sheets.