LIHTC

In an interview reported by the Boston Globe, U.S. Representative Barney Frank indicated he wants the government to spend $10 billion on stalled low-income housing tax credit projects unable to secure equity.

The U.S. Senate Finance Committee on January 23 released a draft of its own version of the tax component of the economic stimulus bill (the “Chairman’s Mark”) that the committee is scheduled to mark up on January 27. The House Appropriations and Ways and Means Committees have already marked up and approved the spending and tax portions of the House version of the stimulus bill (American Recovery and Reinvestment Act of 2009). The full House could vote on the package next week.

After adopting several amendments, the House Appropriations Committee approved HR 352 on a vote of 35-22. The measure is scheduled to be marked-up by two additional committees before being voted on by the full House of Representatives.

The New Jersey Housing and Mortgage Finance Agency has issued its draft 2009 qualified allocation plan (QAP) and market study guidelines for its low-income housing tax credit program.

The Massachusetts Department of Housing and Community Development has announced it will hold a public hearing on proposed changes to its qualified allocation plan for its 2009 low-income housing tax credit program.

South Carolina State Housing Finance & Development Authority has issued a series of announcements with regards to its low-income housing tax credit program.

The Virginia Housing Development Authority has made available several supporting documents to go along with its 2009 qualified allocation plan (QAP) for the low-income housing tax credit program.

A 2009 Affordable Housing Funding Application and supporting documents were recently made available by the Ohio Housing Finance Agency.

The Arizona Department of Housing has released a notice that summarizes proposed changes to the July 2008 IRS ruling that amends utility allowance regulations for the low-income housing tax credit (LIHTC) program.

The Louisiana Housing Finance Agency has scheduled a public hearing to receive comments on an amendment to its 2009 qualified allocation plan (QAP).

The South Carolina State Housing Finance and Development Authority has incorporated the National Council of Affordable Housing Market Analysts Market into its 2009 QAP package.

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.