News
HUD’s MAP Guide Industry Briefings
HUD announced two additional webinars in its Multifamily Accelerated Processing Guide (MAP) guide series.
Blumenauer Introduces Legislation to Reinstate, Increase Non-Historic Credit
Rep. Earl Blumenauer (D-OR) reintroduced legislation to reinstate the non-historic Historic Rehabilitation Tax Credit (HTC) as a 15 percent credit.
Sunshine Forever Act Would Extend Federal ITC for Ten Years at 30 Percent
Rep. Charlie Crist (D-FL) introduced legislation that would extend the renewable energy Investment Tax Credit (ITC) for ten years at a 30 percent rate.
CFPB Report Says 11 Million Families Face Eviction Risk
The Consumer Financial Protection Bureau (CFPB) issued a report March 1 warning of more than 11 million families facing losing their housing due to evictions and foreclosures once federal, state and local pandemic protections come to an end unless additional public and private actions are taken.
Robinson Cole’s Jerome Garciano Updates Green Tax Incentive Compendium
Robinson Cole published its updated Green Tax Incentive Compendium. This volume presents federal and state tax incentives promoting the renewable energy and energy efficiency industries.
HUD Data Shows 60 Percent of LIHTC Households Earn Less Than 30 Percent of AMI
New data from HUD shows that 57.6 percent of residents in LIHTC properties earn at or below 30 percent of the area median income (AMI). The tenant-level data on people who live in LIHTC properties, including race, ethnicity, family composition, age and other factors. Starting this year, HUD released a document with background on the […]
Arkansas Legislation Would More than Double State HTC Cap, Extend Sunset Date
A bill in the Arkansas House of Representatives (H.B. 1555) would increase the State Historic Tax Credit (HTC) from $4 million to $10 million and extend the sunset date from December 31, 2027, to December 31, 2037.
HAND Launches Capital Region Housing Indicator Tool
Housing Association of Nonprofit Developers (HAND) released an online Housing Indicator Tool (HIT), a platform that will provide the most up-to-date information on housing production across the region, with a comparison to established local housing targets from the Capital Region’s housing affordability challenge.
Illinois Legislation Would Create State LIHTC
Legislation introduced in the Illinois Legislature would create a state LIHTC. S.B. 2445 and H.B. 3213 would create the Build Illinois Homes Tax Credit as of January 1, 2021, with a $35 million annual allocation, with 24.5 percent of the credits allocated to the City of Chicago Department of Housing.
Massachusetts Doubles Annual State LIHTC Allocation
Massachusetts Governor Charlie Baker (R) signed an Act Enabling Partnerships for Growth (H. 5250), which includes doubling the annual allocation of state LIHTCs from $20 million to $40 million through January 1, 2025. The bill also makes more than $625 million in capital authorizations, as well as policy provisions to boost economic growth.
Missouri Bill Would Limit State LIHTC, Set Sunset Date
Legislation in the Missouri legislature would reduce the annual allocation of the State LIHTC from $6 million to $2 million and would set an aggregate cap of $80 million on LIHTCs for properties financed with nine percent LIHTCs. H.B. 1095 includes reductions on several Missouri state credits. The bill would add a sunset date of […]
Rhode Island Legislation Would Remove Sunset Date from State HTC
A bill in the Rhode Island General Assembly (H.B. 5458) would eliminate the sunset provision for the State Historic Tax Credit (HTC). The credit is currently set to expire when the maximum aggregate credits are exhausted or June 30, 2021, whichever comes first. The measure has been referred to the House Finance Committee, which has […]