Pennsylvania

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 Pennsylvania Housing Finance Agency will be holding their Pre-Application Meeting for its 2013 PennHOMES/Low Income Tax Credit (LIHTC) programs on Thursday, September 20, 2012. PHFA strongly suggests all prospective applicants attend this meeting.

The Pennsylvania Housing Finance Agency (PHFA) released a draft of its 2013 Qualified Allocation Plan (QAP). Notably, PHFA plans to accept applications in two cycles.

HUD’s Economic and Market Analysis Division regularly publishes Comprehensive Housing Market Analysis reports for regions across the country.

U.S. Senator Kirsten Gillibrand (D-NY) recently introduced the Irene and Lee Tax Relief Storm Recovery Act (S. 3243) which would expand access to the LIHTC and provide affordable housing to families who lost their homes due to destruction caused by Hurricane Irene and Tropical Storm Lee.

HUD’s Economic and Market Analysis Division has released Comprehensive Housing Market Analyses for Fort Worth-Arlington, Texas; Houston, Texas; and Reading, Pennsylvania.

The Pennsylvania State Senate recently passed a bill, SB 1150, that would create a State historic tax credit program.

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 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.

HUD’s Department of Policy Research & Development has published three more Comprehensive Housing Market Analyses for State College, Pennsylvania; Victoria, Texas; and New Orleans, Louisiana.

The Internal Revenue Service (IRS) issued Notice 2011-83 to grant certain low-income housing tax credit (LIHTC) properties relief from certain requirements to provide emergency housing relief needed as a result of the devastation caused by Hurricane Irene or Tropical Storm Lee in Pennsylvania.