LIHTC

The Internal Revenue Service has issued a new notice (Notice 2010-62) that provides interim guidance regarding a provision of the 2010 health care reform law that codified the economic substance doctrine and related amendments to various penalties.

The North Carolina Housing Finance Agency has released a draft version of its 2011 Qualified Allocation Plan (QAP), and a draft of its design quality guidelines (Appendix B).

Colorado Housing and Finance Authority (CHFA) will hold a public hearing on Friday, October 8, 2010, regarding the Low Income Housing Tax Credit Allocation Plan (the Plan) for the year 2011.

The U.S. Department of Housing and Urban Development has designated Difficult Development Areas (DDAs) for 2011 for purposes of the Low-Income Housing Tax Credit (LIHTC) program.

The U.S. Senate failed to clear a critical procedural hurdle on a new compromise version of HR 4213, the American Jobs and Closing Tax Loopholes Act of 2010 (Tax Extenders Legislation) on June 24. It is unclear when the measure will be taken up again. The current version of the measure includes a number of key tax credit provisions…

Following up on a meeting held earlier in June with representatives from Obama Administration’s Domestic Policy Council, Council For Environmental Quality and Recovery Implementation Office, NH&RA’s Council for Energy Friendly Affordable Housing (CEFAH) has issued a set of recommendations to amend the rules governing the Department of Energy’s Weatherization Assistance Program (WAP).

The Louisiana Housing Finance Agency has released a series of frequently-asked-questions, as well as an updated application form for its 2010 low-income housing tax credit funding round.

The Maryland Department of Housing & Community Development (DHCD) has released a blacklined version of its draft 2011 Qualified Allocation Plan (QAP) for its low-income housing tax credit program.

The Wisconsin Housing and Economic Development Authority has announced that projects awarded ARRA Section 1602 Exchange Funds by the agency that have not expended 100% of these funds by December 31, 2010 must demonstrate that by December 31 they have paid or incurred at least 30% of the project’s total adjusted basis in land and depreciable property that is reasonably expected to be part of the low-income housing project.

The Ohio Housing Finance Agency (OHFA) has received several inquiries regarding applications for the 2011 Housing Credit Program.

The New Mexico Mortgage Finance Authority (MFA) has released its 2011 Draft Low Income Housing Tax Credit Qualified Allocation Plan.

The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)).