News

Oklahoma Governor Brad Henry recently signed into law a bill that suspends over two dozen tax credit programs and defers payments for credits related to historic rehabilitation for two years.

The U.S. Department of Housing and Urban Development (HUD) has released its “Policy Requirements and General Section to HUD’s FY-2010 NOFAs for Discretionary Programs.”

Standard & Poor’s has issued a new research report entitled “The U.S. Treasury’s New Issue Bond Program Offers Housing Finance Agencies Possible Increased Market Access.”

Florida Governor Charlie Crist recently singed into law a bill that makes a number of modifications to Florida’s New Markets Development Program (NMDP), a state-level companion program to the federal NMTC program that provides state tax credits for low-income community investments.

HUD has released its proposal to Congress for its Transformation of Rental Assistance (TRA) Program. The proposed legislation would authorize major changes to HUD’s rental assistance programs, aimed at rethinking the entire nature of rental assistance, making it more user-friendly, enabling more tenant mobility, facilitating more preservation and development.

The $350 million proposal would provide owners of public and HUD-assisted housing the opportunity to convert to Section 8 like property-based rental assistance contracts. This would provide owners an important new tool to sustain operations and leverage private financing to address long-term capital needs and implement energy-efficiency improvements. View the complete story for a section-by-section summary.

U.S. Senator Maria Cantwell (D-Wash.) recently introduced legislation (S. 3326, bill text not available at press time) that would extend for one-year the Section 1602 low-income housing tax credit (LIHTC) cash grant exchange program and expand the program to include 4 percent LITHCs. The “Job Creation and Affordable Housing Act” would also allow a 5-year carryback of the LIHTC.

Today (Friday, May 28) the U.S. House of Representatives passed H.R. 4213, the American Jobs and Closing Tax Loopholes Act (Tax Extenders Legislation). The legislation contains several provisions of note for affordable housing and tax credit developers…

NH&RA is pleased to offer a CD-ROM containing digital audio recordings of select panel sessions from the Spring Forum.

Minnesota Housing announces the appointment of Marcia Kolb as Assistant Commissioner for Multifamily Business.

The IRS has issued two new significant revenue rulings impact New Markets Tax Credits impacting passive activity losses.

The U.S. Department of Housing and Urban Development (HUD) has announced that it has extended its deadline for public comment on the FY-2011 research agenda.

New York Governor David Paterson recently introduced a package of proposed legislative amendments to modify and extend the state’s rent laws for eight years, reduce the rate at which apartments become deregulated, provide additional protections for tenants, and address a recent Court of Appeals decision that resulted in uncertainty about the status of thousands of deregulated apartments.