Arkansas

HUD’s Economic and Market Analysis Division regularly publishes Comprehensive Housing Market Analysis reports for regions across the country.

The IRS issued Notice 2012-3 to provide guidance on current refunding issues for outstanding prior bond issues that qualify for tax-exempt bond financing under disaster relief bond programs including Gulf Opportunity Zone Bonds (GO Zone Bonds), qualified Midwestern disaster area bonds and Hurricane Ike disaster area bonds under the Heartland Disaster Act.

The Arkansas Development Finance Authority (ADFA) has published the Final 2012 Housing Credit Program Qualified Allocation Plan (QAP).

U.S. Representative Bruce Braley (D-IA) last week introduced the Rebuilding Communities Act (H.R. 2901), which would extend a provision enacted in 2008 that increased the historic tax credit to 26 percent and the rehabilitation tax credit to 13 percent in Midwestern communities affected by natural disasters.

On June 15 Senators Richard Shelby (R-Ala.) has introduced legislation to provide relief to states that suffered damage by the series of tornadoes and flooding that have struck the south east.

The Arkansas Development Finance Authority has extended its 2011 low-income housing tax credit program application deadline by one month until March 4, 2011.

The Arkansas Development Finance Authority (ADFA) has adopted emergency rules for projects funded by the Tax Credit Assistance Program (TCAP) and Section 1602 Exchange Program, effective immediately.

The Arkansas Development Finance Authority (ADFA) recently issued a memo to potential 2010 applicants for Section 1602 Exchange funds that describes several new requirements for all applicants. The memo also describes the process by which ADFA will identify eligible applications for Exchange funds after the applications are received.

The Arkansas Development Finance Authority recently announced its intent to utilize 2010 Exchange funds as additional gap financing for 2010 tax credit applicants with a substantial investor purchasing the credits for $.65 or more.

The Arkansas Development Finance Authority has released its Tier Three application for 2009 tax credits, HOME funds, TCAP and Exchange program funding.

The Arkansas Development Finance Authority has released its final 2009 Multifamily Housing Minimum Design Standards for projects receiving low-income housing tax credits.

The Arkansas Development Finance Authority has released its 2010 qualified allocation plan (QAP) for administering the low-income housing tax credit (LIHTC) program.