Iowa

Iowa Governor Terry Branstad signed into law a measure to make the state historic tax credit align more closely with the federal credit.

Several state housing finance agencies have released varying drafts of their 2011 QAPs over the past few weeks, as well as LIHTC program materials, proposed changes and other information.

HUD’s Economic and Market Analysis Division has published a Comprehensive Housing Market Analysis report for the Omaha-Council Bluffs, Nebraska-Iowa region.

The Iowa Finance Authority (IFA) is offering a series of three housing tax credit program compliance seminars later this month. The training will cover significant changes to compliance requirements recently issued by the Department of Housing and Urban Development (HUD).

Governor Chet Culver recently announced Bret Mills as his choice for the new Director of Iowa’s Department of Economic Development (DED).

HUD’s Office of Policy Research and Development has published a comprehensive housing market analysis report for the Des Moines, Iowa area.

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).

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 U.S. Department of the Treasury recently announced the next wave of funding awards under the Low-Income Housing Tax Credit (LIHTC) Exchange Program, to spur the development of affordable housing units in five states.

The Iowa Finance Authority has issued draft guidance for implementing its tax credit assistance program (TCAP), established by the American Recovery and Reinvestment Act.

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

The Iowa State Senate has approved Senate File 481, which provides a major expansion of the state’s historic preservation tax credit program.