LIHTC

The North Dakota State Attorney General, Birch P. Burdick, issued an opinion letter regarding the usage of rent restrictions or tax credits in the valuation of LIHTC properties.

The Internal Revenue Service (IRS) has issued final regulations that provide guidance concerning LIHTC owners’ requests to housing credit agencies to obtain a qualified contract for the acquisition of a LIHTC building.

The Internal Revenue Service (IRS) released Revenue Procedure 2012-27 to inform taxpayers of how to notify the Internal Revenue Service of any increase in tax resulting from a reduction in the qualified basis of a LIHTC building in order to begin the 3-year statutory period for assessing a deficiency.

The Texas Department of Housing and Community Affairs (TDHCA) Compliance and Asset Oversight Division, in coordination with the Texas Apartment Association, will present a one day Housing Tax Credit training seminar in Austin and San Antonio.

The Internal Revenue Service released a notice in the Federal Register announcing that it is extending the comment period for previously issued Notice 2012″“7.

Ohio Housing Finance Agency is currently drafting its 2013 Qualified Allocation Plan (QAP), and has scheduled two workshops to solicit input from the public.

NH&RA is pleased to announce that eight member firms have been selected to participate in the Federal Housing Administration’s (FHA) Multifamily Low-Income Housing Tax Credit Pilot program.

Join NH&RA May 21-22 for our 2012 Spring Developers Forum at the Ritz-Carlton Marina del Rey in California. Register by this Friday, April 27 to save up to $100 off your conference registration fee!

Last night’s State of the Union address offered some interesting new insight into the President’s policy priorities for the upcoming year. I was surprised that the President emphasized tax reform so early and often. While President Obama did not cite the low income housing tax credit, historic tax credit or new markets tax credit directly there was a strong emphasis on providing tax relief for businesses that create domestic jobs.

The Federal Housing Administration (FHA) has announced it is planning to launch the first phase of its Multifamily Low-Income Housing Tax Credit Pilot program, which will test an accelerated approval process for the purchase or refinancing of LIHTC properties.

The Obama Administration released its FY 2013 budget on February 13, 2012, proposing spending levels for federal departments, agencies, and programs for the fiscal year that begins October 1, 2012. Click here for background on the federal budget process.

The Washington State Housing Finance Commission (WSHFC) has released the state’s FY 2013 workshop schedule which includes tax credit compliance courses for advanced and beginner participants and a bond compliance course.