Arkansas

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

The Obama Administration recently announced nine more individuals who will serve as their State’s Director of Rural Development at the U.S. Department of Agriculture (USDA). The directors will work with USDA to help manage over 40 programs that USDA’s Rural Development administers to provide affordable housing and improve the economic stability for rural communities across the country.

The Arkansas Development Finance Authority has released its application for funding assistance through the Stimulus Act’s Tax Credit Exchange and Tax Credit Assistance Programs.

The U.S. Department of the Treasury on July 10 announced $486 million in American Recovery and Reinvestment Act (ARRA) funding to spur the development of affordable housing units through its Section 1602 Tax Credit Exchange Program.

U.S. Department of Housing and Urban Development Secretary Shaun Donovan yesterday announced that HUD has approved requests from 26 states for over $1 billion in funding through the Tax Credit Assistance Program (TCAP), provided by the American Recovery and Reinvestment Act of 2009 (ARRA).

Tax Credit Advisor, May 2009: Arkansas Gov. Mike Beebe has signed a bill (HB 1953) creating a state historic rehabilitation tax credit. Arkansas reportedly is the 30th state with a state historic tax credit.

Senator Evan Bayh (D-Ind.) has proposed legislation that would make $230 million in funding immediately available to begin work on shovel-ready affordable housing developments in flood-ravaged areas of Indiana. The legislation would clarifiy that disaster housing credits in Indiana, Alabama, Arkansas, Illinois, Iowa, Kansas, Louisiana, Michigan, Missouri, Minnesota, Nebraska, Texas and Wisconsin would be eligible for the Tax Credit Exchange Program.

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

NH&RA will continue to update the ARRA resource page below as information is made available.

Arkansas Governor Mike Beebe last week signed into law the Arkansas Historic Rehabilitation Tax Credit Bill.

Arkansas State Rep Robert Moore has introduced a bill (HB 1953) that would create an Arkansas state historic rehabilitation tax credit.

The Arkansas Development Finance Authority has issued a letter that places priority on existing developments that previously received low-income housing tax credit allocations, but have not successfully closed or been placed-in-service because of the market conditions.