General News

On Wednesday, January 23, 2013 the California Tax Credit Allocation Committee (TCAC) adopted 2013 regulation changes as recommended by TCAC staff in its January 10 Final Statement of Reasons.

The California Tax Credit Allocation Committee will host 13 LIHTC compliance monitoring workshops across the state in 2013. Five workshops will be focused on Advance Compliance issues, five workshops focused on Basic Compliance issues, and 3 Intensive Workshops that combine elements from both the Basic and Advanced workshops.

The Public and Affordable Housing Research Corporation (PAHRC) and the National Low Income Housing Coalition (NLIHC) recently released the National Housing Preservation Database, which was created in an effort to provide communities with the information they need to effectively preserve their stock of public and affordable housing.

New Mexico Senator Gerald Ortiz y Pino (D- Bernalillo) recently introduced SB 67, which requests $100,000 for FY 2014 and 2015 to fund the New Mexico Mortgage Finance Authority’s (MFA) administrative and oversight duties under the state’s Affordable Housing Act.

At a recent meeting with economic development, real estate and design professionals and other stakeholders, Secretary of the Interior Ken Salazar asked the National Park Service (NPS) to conduct an internal review of the Federal Historic Preservation Tax Incentives Program to ensure that the program is achieving its intended goals.

The Virginia Housing Development Authority (VHDA) released an update for potential applicants regarding reservation applications to the Low Income Housing Tax Credit (LIHTC) program.

The Texas Department of Housing and Community Affairs (TDHCA) has posted final versions of the 2013 Housing Tax Credit Program Qualified Allocation Plan (QAP) and 2013 Uniform Multifamily Rules, as approved by the Governor and the Texas Register. TDHCA has also posted a list of frequently asked questions on its website related to the competitive (9%) housing tax credit program.

In response to the American Taxpayer Relief Act of 2012, the Kentucky Housing Corporation (KHC) is modifying the closing extension policy of the 2013 Qualified Allocation Plan (QAP).

In response to the, H.R. 8, American Taxpayer Relief Act of 2013, the Arizona Department of Housing (ADOH) requested approval from Governor Brewer for adjustments to the 2013 Qualified Allocation Plan. The proposed changes include extending the application deadline by two months from March 1, 2013 to May 1, 2013.

The U.S. House of Representatives Committee on Financial Services Chairman Jeb Hensarling today announced subcommittee assignments for the panel’s Republican members. Chairman Hensarling will serve as an ex officio member of all subcommittees, as will former Chairman Spencer Bachus, who is serving as chairman emeritus in the 113th Congress.

Missouri State Senator Will Krause (R-Jefferson City) recently introduced SB 163, which reauthorizes certain tax credits, prohibits further authorization of certain tax credits, and modifies state historic preservation tax credit (HPTC) and low-income housing tax credits (LIHTCs).

The New Market Tax Credit Coalition recently released a report entitled “NMTC: At Work in Communities Across America” which examines 92 case studies that profile of businesses, projects, and communities that have received assistance through the New Markets Tax Credit (NMTC).