News

The Internal Revenue Service is soliciting comments on Form 8611, the form required for Recapture of Low-Income Housing Tax Credits (LIHTC). Under the LIHTC program, if a project is discarded or fails to meet ongoing program requirements during the 15-year compliance period, the owner must use Form 8611 in order to recapture part of the credits taken in prior years.

New Jersey’s Housing & Mortgage Finance Agency has published guidelines for the tax credit assistance program (TCAP), including project eligibility, selection criteria, awards process, commitment and expenditure deadlines and federal grant requirements.

The Delaware State Housing Authority recently released separate guidance for the low-income housing tax credit assistance (TCAP) and tax credit exchange programs, each established by the American Recovery and Reinvestment Act (ARRA).

The Connecticut Housing Finance Agency has published draft guidance on the selection and awards process for funds allocated by the tax credit assistance program (TCAP), provided for by the American Recovery and Reinvestment Act of 2009.

The Connecticut Housing Finance Agency has published draft guidance on the selection and awards process for funds allocated by the tax credit assistance program (TCAP), provided for by the American Recovery and Reinvestment Act of 2009.

The Arkansas Development Finance Authority has released guidance on its three-tier selection process for the low-income housing tax credit assistance and Section 1602 “Exchange” programs, under the American Recovery and Reinvestment Act

The Maryland Department of Housing and Community Development has released its application for funding through the Tax Credit Assistance Program (TCAP), provided under the American Recovery and Reinvestment Act.

Congressman Barney Frank (D-MA) recently issued a letter to U.S. Treasury Secretary Timothy Geithner requesting certain modifications to Treasury’s guidance regarding implementation of the low-income housing tax credit exchange program under Section 1602 of the American Recovery and Reinvestment Act (ARRA).

The Vermont Housing Finance Agency has released an overview of its proposed implementation plan for the tax credit assistance (TCAP) and tax credit monetization (Exchange) programs, established by the American Recovery and Reinvestment Act.

The West Virginia Housing Development Fund has made available draft guiding principles and scoring criteria for the tax credit assistance (TCAP) program, provided under the American Recovery and Reinvestment Act of 2009.

The Wyoming Community Development Authority has released draft guidance for implementation of its low-income housing tax credit assistance program (TCAP) and is accepting public comments.

The New York State Senate this week unanimously passed S2960, which strengthens the state’s historic rehabilitation tax credit program. The legislation will expand reinvestment in distressed New York communities and improve the program’s ability to implement cost saves strategies.