LIHTC
California Releases 4% Applications and Attachments
The TCAC 2018 applications and attachments for 4% non-competitive projects are available on the TCAC website: http://www.treasurer.ca.gov/ctcac/2018/application/index.asp The treatment of purchase price in excess of appraised value as presented in the application is expected to be revised. Applicants for the March Committee meeting may use the current 2018 application. TCAC will send a subsequent notice if […]
NCSHA Publishes Final Recommended Best Practices in Housing Credit Administration
The report is significant in that states will generally respond to the best practices through policy changes in their QAPs.
Senator Orrin Hatch, LIHTC Champion, Announces Retirement
Not only did Hatch play a large role in the recent tax reform legislation, but he is also a great ally for the Low Income Housing Tax Credit – serving as the Republican co-sponsor on legislation to expand and improve the credit.
Tax Reform Signed Into Law; PABs, Historic, NMTC Preserved
Today, the Senate and House have both passed the conference report of HR 1 – the GOP’s tax overhaul plan. The bill is expected to be signed into law by President Trump later this week.
Bipartisan Policy Institute Issues Report on Positive Health Outcomes from LIHTC
A new report published by the Bipartisan Policy Institute, finds that properties financed through the LIHTC have contributed to social, economic, and educational benefits for communities and families, as well as helped reduce homelessness.
Fannie Mae and Freddie Mac to Re-enter LIHTC Market
FHFA made the announcement on November 16 that Fannie Mae and Freddie Mac are reentering the LIHTC market as equity investors in a limited role, effective immediately.
Tax Reform: House Bill Passes Floor Vote, Senate Committee Approves Markup and Improves HTC
The House is prepared for a Thursday floor vote on The Tax Cuts and Jobs Act (H.R. 1), meanwhile, the Senate Committee on Finance is in its third day of markup and a modified chairman’s mark was released by Chairman Orrin Hatch (R-UT) Tuesday night.
Novogradac & Company Provides Analysis of Jobs Lost Due to Affordable Housing Provisions in House Tax Reform Legislation
Novogradac & Company has expanded its recent analysis of the currently drafted H.R. 1, the Tax Cuts and Jobs Act, which would reduce the future supply of affordable rental housing by nearly 1 million rental homes, a loss of as much as two-thirds current affordable rental housing production. That significant reduction in housing production would also […]
New Analysis Estimates Repeal of PABs Would Reduce Affordable Housing Production by 75,000 Units Annually
A new analysis conducted by the law firm Norris George & Ostrow, PLLC and shared with a number of Senators and Congressional Representatives finds that the elimination of Private Activity Bonds (PABs) proposed in HR 1 would reduce affordable housing production by as much as 75,000 units per year or about 60% of the nation’s annual affordable housing production.
House Tax Reform Bill Eliminates HTC, NMTC; Eliminates Private Activity Bonds
The House Ways and Means Committee has released the full text of its Tax Cuts and Jobs Act. The Committee plans to begin markup on the proposed legislation on November 6, with plans for a House floor vote sometime in mid-November. Several changes within the code would drastically change the landscape of affordable housing and community development.
Rep. DelBene Introduce Legislation Expanding LIHTC by 50 Percent
According to a press release issued on October 31, 2017 Congresswoman Suzan DelBene (WA-01) today led members of the Washington state delegation representing King County in introducing the Access to Affordable Housing Act to increase the Low Income Housing Tax Credit (LIHTC) by 50 percent. At press time bill text was not yet available. “Making […]
RBC Tax Credit Equity Group Closes $146 Million LIHTC Fund
On October 25, 2017, RBC Capital Markets Tax Credit Equity Group announced the closing of the RBC Tax Credit Equity National Fund-26 with total tax credit equity of $146,435,718. The Fund represents the third closing of a multi-investor, multi-property national fund in 2017 and speaks to the strength of investor confidence in RBCCM’s tax credit […]