LIHTC
OHFA Releases 2013 QAP Focus Group Materials, Solicits Comments
Ohio Housing Finance Agency (OHFA) has released the materials that were distributed during the 2013 Qualified Allocation Plan (QAP) Focus Groups on May 8 and 9. Materials are available here. OHFA is seeking further public comment on the topics discussed during the focus groups.
Alaska Publishes New Q&A for 2013 QAP
The Alaska Housing Finance Corporation (AHFC) has compiled a new list of questions and comments regarding the proposed FY2013 GOAL Program Rating and Award Criteria (QAP).
New Jersey HMFA Proposes Amendments to QAP
The New Jersey Housing and Mortgage Finance Agency (HMFA) is proposing amendments to the state’s QAP that would provide more incentives for the development of homeless family units, encourage development of mixed-income properties, and limit development in areas already containing a large number of LIHTC properties.
North Dakota AG Issues Opinions on LIHTC Property Valuations
The North Dakota State Attorney General, Birch P. Burdick, issued an opinion letter regarding the usage of rent restrictions or tax credits in the valuation of LIHTC properties.
IRS Issues Final Qualified Contract Rule
The Internal Revenue Service (IRS) has issued final regulations that provide guidance concerning LIHTC owners’ requests to housing credit agencies to obtain a qualified contract for the acquisition of a LIHTC building.
IRS Issues Guidance on LIHTC Property Disposition
The Internal Revenue Service (IRS) released Revenue Procedure 2012-27 to inform taxpayers of how to notify the Internal Revenue Service of any increase in tax resulting from a reduction in the qualified basis of a LIHTC building in order to begin the 3-year statutory period for assessing a deficiency.
Texas to Hold Tax Credit Training Seminars
The Texas Department of Housing and Community Affairs (TDHCA) Compliance and Asset Oversight Division, in coordination with the Texas Apartment Association, will present a one day Housing Tax Credit training seminar in Austin and San Antonio.
IRS Extends Comment Period on Iowa Relief Credit
The Internal Revenue Service released a notice in the Federal Register announcing that it is extending the comment period for previously issued Notice 2012″“7.
OHFA Schedules 2013 QAP Forums
Ohio Housing Finance Agency is currently drafting its 2013 Qualified Allocation Plan (QAP), and has scheduled two workshops to solicit input from the public.
Eleven NH&RA Member Firms Selected to Participate in FHA LIHTC Pilot
NH&RA is pleased to announce that eight member firms have been selected to participate in the Federal Housing Administration’s (FHA) Multifamily Low-Income Housing Tax Credit Pilot program.
NH&RA Spring Developers Forum: Early Registration Ends Soon
Join NH&RA May 21-22 for our 2012 Spring Developers Forum at the Ritz-Carlton Marina del Rey in California. Register by this Friday, April 27 to save up to $100 off your conference registration fee!
Washington Update: Tax Reform and the State of the Union
Last night’s State of the Union address offered some interesting new insight into the President’s policy priorities for the upcoming year. I was surprised that the President emphasized tax reform so early and often. While President Obama did not cite the low income housing tax credit, historic tax credit or new markets tax credit directly there was a strong emphasis on providing tax relief for businesses that create domestic jobs.