LIHTC

The Kentucky Housing Corporation has announced that Andrew Hawes, director of Multifamily Finance, has left KHC to pursue opportunities in development. Hawes was a member of the KHC team for fifteen years.

The South Carolina State Housing Finance and Development Authority will be holding a public hearing to collect comments on its proposed 2013 Qualified Allocation Plan (QAP) and 2013 Tax Credit Manual. The public hearing has been scheduled for November 1, 2012 from 10:00am-12:00pm.

The California Tax Credit Allocation Committee has scheduled its first committee meeting of 2013 for January 16, 2013. In preparation for proposed regulation changes for 2013, CTCAC has also released an updated geographic apportionment methodology that has been proposed to update the current Regulation Section 10315(i).

The Internal Revenue Service (IRS) announced in Revenue Procedure 2012-41 that it has set the inflation-adjusted State credit ceiling for the Low-Income Housing Tax Credit (LIHTC) program and private activity bond caps for calendar year 2013.

The Internal Revenue Service (IRS) recently published Revenue Procedure 2012-42, which indicates the amounts of unused Low-Income Housing Tax Credit (LIHTC) carryovers for 2012. These carryovers, which amounts to nearly $2.43 million in unused credits, have been allocated to 34 states.

The Texas Department of Housing and Community Affairs (TDHCA) has opened the public comment period for its proposed 2013 HOME, Housing Tax Credit and Housing Trust Fund Regional Allocation Formula (RAF) Methodology. TDHCA will also continue to accept public comments on several of its multifamily plans and rules through October 22, 2012.

On October 3, 2012, the Virginia Housing Development Authority Board of Commissioners approved revisions to the 2013 Qualified Allocation Plan. The revisions were proposed by VHDA and left open for public comment through September 24, 2012. All of the proposed major changes were approved. The changes have been sent to the Governor for final approval.

The Arizona Department of Housing has issued a first draft of its 2013 Qualified Allocation Plan (QAP). Major changes to the QAP include

The New Mexico Housing Mortgage Finance Authority will be hosting a mandatory 2013 QAP and Application Training for all prospective applicants for the 2013 Low Income Housing Tax Credit program.

The Minnesota Housing Finance Agency is considering future changes for its 2014 Qualified Allocation Plan. Minnesota Housing has published a memorandum to outline some of the considered changes in advance of the anticipated release of the draft 2014 QAP in January 2013.

The Montana Board of Housing (MBOH) has released a draft of its 2013 Qualified Allocation Plan following its QAP Work Session held on August 16, 2012. The proposed 2013 QAP includes several revisions from previous years.

HUD has issued a notices designating its 2013 “Difficult Development Areas” (DDAs) for purposes of the Low-Income Housing Tax Credit (LIHTC) program. HUD makes DDA designations annually.