News

The Internal Revenue Service (IRS) has issued final regulations that provide guidance concerning LIHTC owners’ requests to housing credit agencies to obtain a qualified contract for the acquisition of a LIHTC building.

The Internal Revenue Service (IRS) released Revenue Procedure 2012-27 to inform taxpayers of how to notify the Internal Revenue Service of any increase in tax resulting from a reduction in the qualified basis of a LIHTC building in order to begin the 3-year statutory period for assessing a deficiency.

The Texas Department of Housing and Community Affairs (TDHCA) Compliance and Asset Oversight Division, in coordination with the Texas Apartment Association, will present a one day Housing Tax Credit training seminar in Austin and San Antonio.

The Internal Revenue Service released a notice in the Federal Register announcing that it is extending the comment period for previously issued Notice 2012″“7.

The House Ways and Means Select Revenue Subcommittee recently held a hearing on tax extenders in which a few members specifically expressed support for the New Markets Tax Credit (NMTC) and Wind Production Tax Credit programs.

The Senate Appropriations Committee on April 19 approved the Transportation, Housing and Urban Development (THUD) Subcommittee’s fiscal year (FY) 2013 appropriations bill. The bill proposes to fund the Department of Housing and Urban Development (HUD) programs at $46.16 billion, an increase of $1.4 billion above the President’s FY 2013 request and $2.4 billion more than the FY 2012 enacted budget amount.

Ohio Housing Finance Agency is currently drafting its 2013 Qualified Allocation Plan (QAP), and has scheduled two workshops to solicit input from the public.

The CDFI Fund recently released updated program eligibility for the New Markets Tax Credit (NMTC) Program, based on the 2006-2010 American Community Survey (ACS).

NH&RA is pleased to announce that eight member firms have been selected to participate in the Federal Housing Administration’s (FHA) Multifamily Low-Income Housing Tax Credit Pilot program.

In recently released Notice H 2012-5, HUD provides guidance to Owners, Management Agents and residents of HUD Multifamily insured and assisted properties to stress the importance of prevention, identification, and treatment of infestations in rental housing.

HUD has posted a new report on its HUD USER website entitled, “Housing Units that Serve Both the Renter and Owner Markets.”

HUD has announced that Mr. Kerry Hickman has been selected for the position of Director, Office of Housing Assistance and Contract Administration Oversight (OHACAO).