News

On Monday, the White House released its FY 2023 budget proposal, which requests $71.9 billion in discretionary funding for HUD and $50 billion for “Addressing Cost Pressures and Expanding Economic Capacity.”  

In Revenue Procedure 2022-20, the Internal Revenue Service provides permanent authority to conduct telephonic public hearings for tax-exempt private activity bonds and QAPs.

The Internal Revenue Service published Internal Revenue Bulletin No. 2022-12, which contains calendar year 2022 resident population figures to calculate state allocations of the nine percent LIHTC and private activity bond cap.

Representatives Alma Adams (D-NC), Carolyn Maloney (D-NY) and David Rouzer (R-NC) introduced the LIHTC Financing Enabling Long-term Investment in Neighborhood Excellence (LIFELINE) Act, H.R. 7078, which would allow states and localities to use Coronavirus State and Local Fiscal Recovery Fund (SLFRF) resources to make long-term loans to Housing Credit developments.

USDA’s Rural Housing Service published a Notice of Solicitation of Applications entitled, Multi-Family Housing Preservation and Revitalization Demonstration Program-Section 514 and Section 515 for Fiscal Year 2022.

HUD published a Federal Register notice adjusting the Annual Indexing of Basic Statutory Mortgage Limits for Multifamily Housing Programs. The percentage change in the consumer price index for all urban consumers is 4.2 percent and the limits have an effective date of Jan. 1, 2022.

Governor Phil Murphy (D) released New Jersey’s proposed budget, which includes $300 million in American Rescue Plan Act funds for the Affordable Housing Production Fund to create 3,300 new affordable homes.

HUD extended the submission deadline for expedited regulatory waivers until April 1, 2022, for Public Housing and Housing Choice Vouchers.

HUD updated the fair market rents (FMRs) for the Housing Choice Voucher Program, Moderate Rehabilitation Single Room Occupancy Program and other programs for Fiscal Year 2022 for 12 areas based on new survey data: 

Princeton University’s Eviction Lab published a new report finding that at least 1.36 million eviction cases were avoided last year from the Emergency Rental Assistance (ERA) from the American Rescue Plan.

The Baltimore Metropolitan Council (BMC) seeks qualified and experienced developers to apply for affordable housing subsidies for new construction, substantial rehabilitation or existing housing through the Baltimore Regional Project-Based Voucher (PBV) Program.

The annual Charles L. Edson Tax Credit Excellence Awards (Edson Awards) recognize outstanding affordable housing developments and organizations that have demonstrated especially impactful use of the LIHTC.