News

Senator Patrick Leahy (D-VT) recently introduced the Historic Downtown Preservation and Access Act (S. 1421) to amend Section 47 of the Internal Revenue Code to provide a refundable tax credit for the installation of sprinklers and elevators in historic structures.

A recent report conducted by Rapoza Associates entitled “The Low-Income Housing Tax Credit: Overcoming Barriers to Affordable Housing in Rural America” examines the importance of the Low-Income Housing Tax Credit (LIHTC) in the developing and preserving affordable housing in rural communities.

Tennessee Housing Development Agency (THDA) will host a Public Hearing for the 2014 Tennessee LIHTC QAP on August 29, 2013 from 10:00 am to 11:00 am

The Colorado Housing Finance Authority will hold two public hearings to receive input from the public to develop the 2014 Colorado QAP.

HUD recently released its proposed fiscal year (FY) 2014 fair market rents (FMRs) for the Housing Choice Voucher (HCV) and Moderate Rehabilitation Single Room Occupancy programs.

House Finance Services Chairman Jeb Hensarling (R-TX) recently announced intentions to introduce the Protecting American Taxpayers and Homeowners (PATH ) Act, a measure which according to Hensarling, would create a more sustainable housing finance system.

New York State Homes and Community Renewal (HCR) released its proposed 2013/14 Qualified Allocation Plan (QAP) for the federal and state Low-Income Housing Tax Credit Programs. They have also announced a series of public hearings to solicit comments on the two plans.

Senators Maria Cantwell (D-WA) and John Barrasso (R-WY) recently introduced the Native American Housing Assistance and Self-Determination Reauthorization Act of 2013 (S. 1352), which among other provisions, would increase low-income housing tax credit (LIHTC) incentives for developments serving Native American communities.

Rutgers University in partnership with National Park Service (NPS) has released its fourth annual study, entitled “Annual Report on the Economic Impact of the Federal Historic Tax Credit for FY 2012”, which details the economic impact of the federal Historic Rehabilitation Tax Credit (HTC).

On Tuesday, August 6, President Obama delivered a speech in Phoenix, Arizona detailing his plan for promoting a strong and stable housing market. The speech addressed several core principles but mainly focused on balancing housing policy to support both sustainable homeownership options and affordable rental opportunities.

On July 31, the U.S. Department of Agriculture (USDA) Rural Development (RD) sent letters notifying owners with Section 521 Rental Assistance (RA) contracts that expire in September that RA contracts cannot be renewed until fiscal year (FY) 2014 begins in October due in part to a shortage of FY 2013 RA funds.

North Dakota Housing Finance Authority (NDHFA) staff is in the process of developing a Draft 2014 Qualified Allocation Plan to be used in the administration of the Low Income Housing Tax Credit Program. If you have suggestions for changes to the existing plan, please provide your written comments by August 20, 2013. A draft 2014 Qualified Allocation Plan is expected to be ready for public comment by October 22, 2013.