Louisiana

ICAST’s IRA & BIL Instant Benefit Estimate Calculator is now available on NH&RA’s website under the Resources section.

The Louisiana House of Representatives recently approved H.B. 726 by a vote of 66-33, a measure to create a state New Markets Jobs Tax Credit to provide incentives for private businesses to invest in low-income rural and “emerging urban” communities.

The National Housing & Rehabilitation Association, in association with the National Trust Community Investment Corporation, honored developers, architects and historic preservation professionals that brought new life to ten historic buildings through its awarding of the 2012 J. Timothy Anderson Awards for Excellence in Historic Rehabilitation.

The Internal Revenue Service (IRS) announced in Revenue Procedure 2012-41 that it has set the inflation-adjusted State credit ceiling for the Low-Income Housing Tax Credit (LIHTC) program and private activity bond caps for calendar year 2013.

The Internal Revenue Service (IRS) recently published Revenue Procedure 2012-42, which indicates the amounts of unused Low-Income Housing Tax Credit (LIHTC) carryovers for 2012. These carryovers, which amounts to nearly $2.43 million in unused credits, have been allocated to 34 states.

The National Housing & Rehabilitation Association (NH&RA) has announced five winners and ten finalists across ten competitive categories for this year’s J. Timothy Anderson Awards for Excellence in Historic Rehabilitation. The “Timmy Awards” will be presented at an awards luncheon and ceremony on Tuesday, October 30 at the Langham Hotel in Boston, Massachusetts, held in conjunction with the association’s Annual Fall Developers Forum. The winners and finalists represent fourteen different communities in ten states””Connecticut, Kansas, Kentucky, Louisiana, Massachusetts, Missouri, Oklahoma, Pennsylvania, Tennessee, Virginia””as well as the District of Columbia.

The Louisiana Housing Corporation (LHC) has begun operating as the State of Louisiana’s new housing finance agency. The new agency consolidates previous activities from the Louisiana Housing Finance Agency and the Office of Community Development, Department of Health and Hospitals, and the Department of Children and Family Services and will be responsible for the administration of the Low-Income Housing Tax Credit program and other state and federal housing and community development programs.

The Louisiana Housing Finance Agency (LHFA) has rescheduled its public hearing to address proposed changes to the 2013 Qualified Allocation Plan for administering the low-income housing tax credit.

The Louisiana Housing Finance Agency (LHFA) has released a draft version of its proposed Qualified Allocation Plan (QAP) and selection criteria for the 2013 LIHTC allocation round.

The Office of the Comptroller of the Currency (OCC) issued OCC Bulletin 2012-8 which will extend the deadline for consideration of Community Reinvestment Act (CRA) activities in areas that were affected by hurricanes Rita and Katrina.

Representative Chris Gibson (R-NY) recently introduced the Irene and Lee Tax Relief Strom Recovery Act, H.R. 3769, which would increase the amount of Low-Income Housing Tax Credits (LIHTCs) to be allocated in states damaged by Hurricane Irene or Tropical Storm Lee in 2011.

The IRS issued Notice 2012-3 to provide guidance on current refunding issues for outstanding prior bond issues that qualify for tax-exempt bond financing under disaster relief bond programs including Gulf Opportunity Zone Bonds (GO Zone Bonds), qualified Midwestern disaster area bonds and Hurricane Ike disaster area bonds under the Heartland Disaster Act.

The Internal Revenue Service (IRS) published Revenue Service 2011-57 which dictates the amounts of unused housing credit carryover allowances allocated to qualified states. Nearly $3.66 million of unused credits were divided among the states in the National Pool.