LIHTC

A coalition of twelve housing organizations has signed onto a letter sent by the National Council of State Housing Agencies (NCSHA) to Senate Majority Leader Harry Reid (D-NV) urging Congress to restore the Section 1602 LIHTC cash grant exchange program, which was excluded from the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, signed into law earlier this month.

The Wisconsin Housing & Economic Development Authority (WHEDA) has issued a public announcement regarding the 2011 LIHTC program.

Both houses of Congress and the White House are reportedly considering varying forms of legislation that could, among other things, extend expiring tax credits provisions.

The Illinois Housing Development Authority (IHDA) has released a draft version of its updated Qualified Allocation Plan (QAP) for the 2011 Low-Income Housing Tax Credit Program.

The White House has announced that the framework agreement announced by President Obama on extending the “2001/2003 Bush Tax Cuts” for an additional two years will also secure a number of expiring business tax credits.

The Puerto Rico Housing Finance Authority has released a draft version of its 2011 Qualified Allocation Plan for administering the territory’s low-income housing tax credit program.

New York State Homes and Community Renewal (HCR) has released a new report entitled “A Performance Report of New York State’s Low Income Housing Tax Credit Portfolio.”

Key Senate and House legislators are reported to be negotiating an omnibus spending measure.

The Illinois Housing Development Authority has released a draft of the 2011 Low-Income Housing Tax Credit Qualified Allocation Plan. The state will have approximately $21 million to allocate in 2011.

Sen. Max Baucus (D-MT) has introduced the Middle Class Tax Cut Act of 2010. The legislation contains extensions of numerous affordable housing, new markets and renewable energy tax credit and bond programs.

In yet another “wave” election, the Democratic Party has been swept out of the US House of Representatives as Congressional Republicans picked up approximately 60 seats (at time of press some final results are still in questions). The Democratic Party still maintains a majority in the US Senate. NH&RA will be providing additional coverage on the leadership and priorities of the next Congress in the upcoming weeks.

The National Housing & Rehabilitation Association is now accepting registrations for the 2011 Annual Meeting and Pre-Conference Symposium on New Markets Tax Credits, scheduled February 23-26, 2011 in Bonita Springs, Florida.