LIHTC
Updated LIHTC Provisions in Senate Build Back Better Act
Over the weekend, the Senate Finance Committee released its portion of the Build Back Better Act, which makes important modifications to the LIHTC provisions in the bill.
NH&RA Joins AIT Letter to Treasury
NH&RA and 30 other housing organizations sent a letter to the Department of the Treasury requesting issuance of a final LIHTC average income test minimum set-aside rule.
IRS Sets Threshold for Four Percent Floor Eligibility
Last week, the Internal Revenue Service published Revenue Ruling 2021-20, which limits the LIHTC buildings that are eligible for the fixed four percent floor.
IRS Publishes 2022 LIHTC, PAB Caps
The Internal Revenue Service released Revenue Procedure 2021-45, which sets state ceilings for nine percent LIHTCs and private activity bonds (PAB).
Novogradac Estimates BBB LIHTC Provisions Would House 1.9 Million Low-Income Americans
Novogradac estimates the latest version of the $1.75 trillion Build Back Better reconciliation legislation would finance 936,900 affordable homes over 2022 to 2031.
LIHTC, $154 Billion in Housing Spending Now Included in Build Back Better Act
House leadership recently released an updated version of the Build Back Better Act, which now includes $153.95 billion in direct housing spending provisions as well as several key LIHTC provisions.
Spending Provisions of Budget Reconciliation Released; Still Awaiting Tax Provisions
Last week, the House released the 1,684-page budget reconciliation bill text for spending provisions, which includes $153 billion for housing.
Virginia Seeks Supportive Services Provider
The Virginia Department of Behavioral Health and Developmental Services is seeking experienced providers to deliver supportive services to individuals with a serious mental illness or developmental disability who live in certain LIHTC properties.
Texas Posts Draft LIHTC Site Demographic Characteristics Report
The Texas Department of Housing and Community Affairs posted a draft of the 2022 LIHTC Site Demographic Characteristics Report.
Texas Announces Six-Month Extension to PIS Deadline for 2019 Nine Percent LIHTC Developments
The Texas Department of Housing and Community Affairs is notifying owners and agents of all 2019 nine percent LIHTC developments that, under the authority provided by Revenue Procedure 2014-49 and due to the major disaster declaration resulting from the COVID-19 pandemic, the deadline to place in service each building has been extended by six months, going from Dec. 31, 2021, to June 30, 2022.
Connecticut Webinar on LIHTC Compliance Monitoring – Nov. 10
The Connecticut Housing Finance Authority and Spectrum are hosting a webinar on LIHTC compliance.
Texas Offers $49 Million in Direct Loan NOFA
The Texas Department of Housing and Community Affairs (TDHCA) posted a second amendment to the 2021-3 Multifamily Direct Loan Annual NOFA.