LIHTC

The Internal Revenue Service (IRS) has released it latest LIHC Newsletter, which provides a forum for information about Section 42, the Low-Income Housing Tax Credit (LIHTC), and communicating technical knowledge and skills, guidance, and assistance for developing LIHTC issues.

The Internal Revenue Service (IRS) recently released Notice 2013-15 to announce the 2013 Calendar Year Resident Population Figures, which are used to determine each state’s 2013 Low-Income Housing Tax Credit (LIHTC) ceiling and tax-exempt private activity bond volume caps.

NH&RA was thrilled to welcome over 250 participants to the Loews Miami Beach Hotel in South Beach for our 2013 Annual Meeting. All conference materials, Power Point presentations, relevant articles, reports, memos, etc. are available below under the relevant session titles.

The Ohio Housing Finance Agency has announced a public hearing to obtain input from affordable housing stakeholders and other interested parties.

The Iowa Finance Authority is hosting a public forum for interested parties to provide feedback and recommendations for the 2014 Qualified Allocation Plan.

U.S. Representative Keith Ellison (D-MN) recently re-introduced the Common Sense Housing Investment Act of 2013 (H.R. 1213) which would replace the federal mortgage interest deduction (MID) with a 15 percent non-refundable tax credit for all mortgages up to $500,000. Legislators expect that phasing out the MID would increase federal revenue by $196 billion over ten years.

The Texas Department of Housing and Community Affairs (TDHCA) recently released the schedule for six public hearings to gather public comment on the 2013 Competitive Housing Tax Credit Applications.

Proposed amendments, a new rule, re-proposed amendments, re-proposed new rules, and a re-proposed repeal to the 2013 Qualified Allocation Plan were published in the New Jersey Register on March 18, 2013.

After months of stalemate on December 31 (US Senate) and January 1 (US House of Representatives) respectively, has passed HR 8, The American Taxpayer Relief Act, which addresses the tax provisions of the “fiscal cliff.” The legislation is expected to be signed into law by President Obama imminently. The legislation includes a number of tax extenders including extensions of most of the expiring “Bush-era” income tax rates, a permanent “patch” for the alternative minimum tax, and most notably for NH&RA members extensions of the New Markets Tax Credit and the fixed 9 percent rate for the Low-Income Housing Tax Credit through 2013. The measure also postpones sequestration, automatic spending cuts to government spending that was set to occur in January, by two months to allow time for further negotiation.

The National Housing & Rehabilitation Association, in association with the National Trust Community Investment Corporation, honored developers, architects and historic preservation professionals that brought new life to ten historic buildings through its awarding of the 2012 J. Timothy Anderson Awards for Excellence in Historic Rehabilitation.

The New Hampshire Housing Finance Authority has released s draft of their 2014 Qualified Allocation Plan (QAP) with Appendices.  The QAP defines the process by which New Hampshire Housing Finance Authority will allocate federal Low Income Housing Tax Credits to developers.

The Affordable Rental Housing A.C.T.I.O.N. (A Call to Invest in Our Neighborhoods) network has released a series of District Fact Sheets and Key Member Fact Sheets detailing the success of the program in every Congressional district.