LIHTC

The California Tax Credit Allocation Committee (TCAC) has reminded allocatees that carryover allocation documentation and payment of the allocation fee for all 2011 9% tax credit reservation recipients is due to TCAC no later than…

The White House’s Rental Policy Working Group recently released realignment requirements for several critical administrative policy areas in order to better align Federal rental policy. As one of the first initiatives to be tested, the Michigan State Housing Development Authority (MSHDA) has been selected as the nation’s first housing authority to implement federal subsidy layering review realignment.

The Internal Revenue Service (IRS) has issued Notice 2011-83 to announce the suspension of certain requirements for low-income housing tax credit projects in order to provide emergency housing relief to individuals affected by Hurricane Irene and/or Tropical Storm Lee in Pennsylvania.

The public comment period for multiple Texas Department of Housing and Community Affairs (TDHCA) programs including the proposed 2012 Qualified Allocation Plan (QAP) began September 30 and is underway until 5:00 pm October 19, 2011. Public hearings for input on the various programs are scheduled between October 7 and October 17, 2011.

The Montana Board of Housing announced Mary Bair as its new Multifamily Program Manager.

The Ohio Housing Finance Agency has posted the following documents relative to the 2012 Qualified Allocation Plan.

In February 2011, the Hawaii State Legislature passed S.B. No. 1240 which created a mechanism to provide alternative financing assistance to incentivize the use of the State’s low-income housing tax credit program.

The Washington State Housing Finance Commission has released the 2012 Low-Income Housing Tax Credit Program Application Packet.

Governor John Kitzhaber has announced the appointment of Margaret Shephard Van Vliet to fill the position of Oregon Housing and Community Services Director.

The Missouri House of Representatives approved an economic development bill that includes tax credits towards a China trade hub at Lambert-St. Louis International Airport, a corporate income tax reduction from 6.25 percent to 5.5 percent starting in January 2012, and changes to the historic and low-incoming housing tax programs.

The Missouri House of Representatives approved an economic development bill that includes tax credits towards a China trade hub at Lambert-St. Louis International Airport, a corporate income tax reduction from 6.25 percent to 5.5 percent starting in January 2012, and changes to the historic and low-incoming housing tax programs.

U.S. Congressmen Jim McDermott (D-WA), Erik Paulsen (R-MN), and Keith Ellison (D-MN) have introduced a bill that would update the existing tax law to allow formerly homeless young people to pursue a four-year college education and still qualify for Low Income Housing Tax Credits housing units.