News

Michigan Governor Rick Snyder recently made a proposal to replace the Michigan Business Tax with a flat rate corporate income tax, and, as part of the package, the proposal eliminates the state’s historic preservation tax credit. 

The Washington State Housing Finance Commission (WSHFC) recently posted the preliminary policy and program development time-line for its FY-2012 low-income housing tax credit program.

The U.S. Department of Housing and Urban Development (HUD) has issued a notice of emergency information collection soliciting comments from the public with regard to the FY-2011 Choice Neighborhoods Initiative (CNI) / HOPE VI Program notice of funding availability.

To assist sponsors and owners of Section 202 and Section 811 projects in reducing operating costs, HUD’s Office of Policy Development & Research has published Enhancing Energy Efficiency and Green Building Design in Section 202 and Section 811 Programs.

The Michigan State Housing Development Authority has posted its Draft 2012 Qualified Allocation Plan and related documents to its web site. MSHDA will hold three Public Hearings on May 31, 2011 to take comments on the Draft 2012 Qualified Allocation Plan.

On May 12, House Financial Services Committee members John Campbell (R-CA) and Gary Peters (D-MI) introduced the “˜”˜Housing Finance Reform Act of 2011” (HFRA), H.R. 1859.

The Massachusetts Department of Housing and Community Development (DHCD) has released the final version of its 2011 qualified allocation plan.

The Louisiana Housing Finance Agency (LHFA) has released a red-lined and clean versions of its 2011-2012 qualified allocation plan (QAP) on its website.

Last week, the House Committee on Appropriations released its draft 302b allocations, the amounts each of the 12 appropriations subcommittees will have available to spend on their respective FY-2012 funding bills.

Kansas Development Finance Authority (KDFA) President Tim Shallenburger has named Garden City native Dennis L. Mesa as Executive Director of Kansas Housing Resources Corporation (KHRC). KHRC, a subsidiary corporation of KDFA, is a self-supporting, public corporation which serves as the primary administrator of federal housing programs on behalf of the State of Kansas.

The U.S. Department of Housing and Urban Development has released its U.S. Housing Market Conditions Report for the first quarter of 2011.

Senator Jay Rockefeller (D-WV), a senior member of the Senate Finance Committee, introduced a bill last week to extend the New Markets Tax Credit (NMTC) for five years and provide $5 billion for the program annually.