Federal / Agency News

The Government Accountability Office (GAO) recently released a report claiming that HUD’s oversight of public housing authorities (PHAs) could be more focused on identifying potential inappropriate use or mismanagement of public housing funds.

The U.S. Department of Housing and Urban Development recently announced $1.5 in available funding through the Homelessness Prevention and Rapid Re-Housing Program, provided under the American Recovery and Reinvestment Act (ARRA) of 2009.

The Internal Revenue Service (IRS) recently issued Notice 2009-52, which describes the procedures taxpayers must follow in order to make the election to receive the energy investment tax credit (IRC Section 48) instead of the production tax credit (IRC Section 45).

The Internal Revenue Service is soliciting comments on Form 8611, the form required for Recapture of Low-Income Housing Tax Credits (LIHTC). Under the LIHTC program, if a project is discarded or fails to meet ongoing program requirements during the 15-year compliance period, the owner must use Form 8611 in order to recapture part of the credits taken in prior years.

House Ways and Means Select Revenue Measures Subcommittee Chairman Richard E. Neal (D-MA) has that the Subcommittee on Select Revenue Measures will hold a hearing on issues involving tax-exempt and taxable governmental bonds on May 21.

The National Housing & Rehabilitation Association has made available the PowerPoint presentations displayed during the recent 2009 Spring Developers Forum: A Time of Opportunity, held May 11-12, 2009 at the Hyatt Regency Century Plaza in Los Angeles, California.

The U.S. Treasury Department and Internal Revenue Service are soliciting suggestions on federal tax guidance projects that should be included on the 2009-2010 Guidance Priority List.

NH&RA is urging Congress to take action to make a critical technical change to the New Markets Tax Credit Program, making it easier to use the subsidy on projects involving multiple buildings.

Download Our Brochure For The 2009 Spring Developers Forum, May 11-12 in Los Angeles. Click here to download our conference brochure. 

The U.S. Department of Housing and Urban Development has published a notice in the Federal Register addressing changes to the General Section and Policy Requirements of HUD’s 2009 Notice of Availability of funding process.

National Council of Affordable Housing Market Analysts recently convened its Spring Public Policy & Market Study Forum April 6-7 in Washington DC. This year’s innovative program featured a very informative Washington & Public Policy Update. The panelists explored critical topics including the American Recovery & Reinvestment Act, congressional legislative priorities, personnel and regulatory changes at HUD and in the Obama Administration and much, much, more…You can now preview the session on our YouTube Channel or our our website…

n accordance with section 206A of the National Housing Act, HUD has adjusted the basic statutory mortgage limits for multifamily housing programs for calendar year 2009.