LIHTC
Kentucky’s 2024 Opportunity 360 and NOFA for Tax-Exempt Bonds
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.
Accounting Standards Update Incents NMTCs, HTCs and RETCs
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.
Senate Considers Nominations of NEC Chairman, HUD Assistant Secretaries
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.
IRS Publishes 2023 Population Figures to Calculate LIHTC, PAB
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).
CBO Increases CPI Estimates with Implications for HUD, LIHTC Properties
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.
State Housing Organizations Sign Hill Letter Urging Inclusion of LIHTC Provisions
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 with Long Year-End To-Do List
Congress returns this week from the Thanksgiving holiday and the votes are in from all but three races.
NH&RA Joins Letter with Over 2,500 Signatories to Congress on LIHTC Provisions in a Year-End Bill
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 Designates DDAs, QCTs for 2023
HUD published a Federal Register notice designating 2023 difficult development areas (DDAs) and qualified census tracts (QCTs).
IRS Sets 2023 PAB, LIHTC Per-Capita Multiplier and Small-State Minimums; Allocates $5.4 Million to Unused Pool
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).
HUD Releases Guide on Increasing Supply of New Affordable Housing
A new guide from HUD, Increasing the Supply of New Affordable Housing: Quick Guide to Using HUD’s Community Planning and Development (CPD) Programs, details funding sources available for affordable housing and provides case studies.
Improving Low Income Housing Tax Credit Data for Preservation
The National Low Income Housing Coalition and the Public and Affordable Housing Research Corporation’s (PAHRC) new joint report, Improving Low-Income Housing Tax Credit Data for Preservation, examines the extent to which housing finance agencies (HFAs) provide data on LIHTC properties at the state and local levels and analyzes the catalysts, challenges and necessary resources impacting their ability to collect, maintain and report LIHTC property data to HUD and the wider public.