LIHTC

The California Tax Credit Allocation Committee (CTCAC) recently released proposed regulation changes to the 2012 Tax Credit program and subsequently conducted a 30 day public comment period in which four public hearings were held to receive feedback on the proposed changes.

The Texas Department of Housing and Community Affairs (TDHCA) has released the final 2012-2013 Qualified Allocation Plan (QAP) for the state’s Housing Tax Credit program.

Missouri State Senate Bill (SB 531) modifies the low-income housing tax credit program and the historic preservation tax credit program by requiring the Department of Revenue to apply any increase in revenue generated from capping these tax credit programs to a decrease in the personal income tax rate to begin on January 1, 2016.

Maryland’s Governor Martin O’Malley, in partnership with the Maryland Department of Housing and Community Development (DHCD), recently announced a new $15 million rental housing initiative, “Rental Housing Works”, that will provide funding for up to 20 affordable housing projects in the State of Maryland.

The Delaware State Housing Authority (DSHA) announced that applications for Low-Income Housing Tax Credits (LIHTCs) are now being accepted.

The Delaware State Housing Authority has released its 2012 Qualified Allocation Plan for administering the low-income housing tax credit allocation process, as well as a cover letter, change sheet, attachments, and a summary of public comments.

The North Dakota Housing Finance Agency has released the final version of its housing tax credit allocation plan for 2012, as well as the funding application.

At its December 2011 meeting, the Connecticut Housing Finance Authority Board of Directors approved the draft 2012 Qualified Allocation Plan (QAP) and Low-Income Housing Tax Credit (LIHTC) Procedures for public comment.

NH&RA member firm, Gallagher Evelius & Jones LLP, has drafted an excellent summary of notable 2011 affordable housing policy changes for the Maryland Affordable Housing Coalition. The memo summarizes a number of federal and local policy changes impacting the Low-Income Housing Tax Credit (LIHTC), compliance issues, the New Markets Tax Credit (NMTC), New Issue Bond Program (NIBP) as well as Maryland specific programs. The entire text of the memorandum is provided below.

The Arizona Department of Housing (ADOH) has released the final approved version of the state’s 2012 Qualified Allocation Plan (QAP) for the distribution of Low-Income Housing Tax Credits (LIHTCs).

The Minnesota Housing Finance Agency (MHFA) is now accepting applications for Round 2 of the 2012 Housing Tax Credit program, of which approximately $500,000 in tax credits are available.

Oregon Housing and Community Services (OHCS) has rewritten and restructured the process documentation to help applicants navigate the Consolidated Funding Cycle process for 2012.