LIHTC
RBCCM’s Tax Credit Equity Group Closes on $158,415,511 RBC Tax Credit Equity National Fund-27
The Fund represents the first launch and closing of a multi-investor, multi-property national fund post-tax reform for TCEG and speaks to the strength of investor confidence in RBCCM’s tax credit equity syndication platform in uncertain market conditions.
President Signs Omnibus Legislation into Law, 10% Increase for HUD, LIHTC Improvements
On March 23, President Trump signed into law the 2018 omnibus spending bill (HR 1625). Bill language was released late Wednesday night and the House of Representatives and Senate subsequently passed the bill on Thursday. The news of passage comes shortly after President Trump threatened via Twitter to veto the bill on Friday morning. The […]
New York State Budget Allows Bifurcation and Certification of LIHTC, Extends State Historic Credit for 5 Years
This allows for the two credits to be decoupled, allowing investors to transfer state credits separate from federal LIHTCs. The entity or person receiving the state credit would also not need to have any ownership interest in the LIHTC development.
NCSHA Publishes Q&A Document on Income Averaging
The document answers technical questions about income averaging, makes recommendations for how states can implement income averaging, and identifies issues states should consider.
HUD Releases 2018 Income Limits
The limits determine eligibility for assisted housing programs including Public Housing, Sec. 8 project-based, Sec. 8 Housing Choice Voucher, Sec. 202, and Sec. 811.
Novogradac Blog Examines Implementation and Issues Regarding Income-Averaging
A recent Notes from Novogradac blog post discusses the implementation of the income averaging election set-aside for low-income housing tax credit (LIHTC) properties created by the Consolidated Appropriations Act, 2018.
West Virginia Will Postpone Income Averaging, Volume Cap Increase Soon to Come
The Fund anticipates being more restrictive by not permitting the income averaging provision in its first year of existence, namely 2018.
California Adds 12.5% LIHTC Increase to 2nd Round, Opens Comment for Income Averaging
California responds to the recent omnibus legislation regarding the LIHTC.
California Launches Joint TCAC-CDLAC Application for 4%/Bond Projects
The joint application allows a single application to be submitted to both CDLAC and TCAC simultaneously through CDLAC’s online application webpage.
Omnibus Has Potential to Reach Floor Thursday, Cantwell-Hatch Hangs in the Balance
Congressional leadership is anticipating a release of the omnibus language later today with potential for a House vote on Thursday.
Ohio Revises Restrictive Covenant Modifications and Qualified Contract Requests
Both policy revisions became effective on March 5. Read on for a summary of changes, which include no longer accepting requests for multifamily covenant releases.
IRS Reduces Small State Minimums for LIHTCs and PABs
The adjustment leaves per-capita amounts unchanged for LIHTCs and PABs. However, the LIHTC small state minimum was reduced by $5,000 while the small state minimum for PABs was reduced by $665,000.