Tax Exempt Bonds

In Revenue Procedure 2011-52, the Internal Revenue Service (IRS) set the inflation-adjusted State credit ceiling for the low-income housing tax credit (LIHTC) program and private activity bond caps for calendar year 2012.

New York Governor Andrew Cuomo recently signed a pair of affordable housing bills sponsored by Senator Catharine Young.

In response to a recent White House discussion meeting which called for bold action to tackle the nation’s ongoing housing troubles, Rep. Kathy Castor (D-FL) has sent a letter to President Obama proposing a number of recommendations that would significantly impact the development of affordable rental housing.

NH&RA is pleased to offer .PDF versions of the PowerPoint slides presented at the 2011 Summer Institute & New Markets Tax Credit Symposium.

The Internal Revenue Service is inviting public comments by September 19 on an existing regulation on arbitrage restrictions on tax-exempt bond and associated recordkeeping requirements for issuers.

The U.S. Department of Housing and Urban Development has released the new area median income limits for Fiscal Year 2011.

On April, 29, 2011 Washington State Governor Christine Gregoire signed new legislation regulating the ability of out-of-state bond issuers to issue private activity bonds for a project.

NH&RA is pleased to make available the slides presented at the recent 2011 NCAHMA Spring Affordable Housing Policy & Underwriting Forum, April 27-28 in Washington, DC. Slides will be available to the public for a limited time only, and then only available to NH&RA members.

The Department of the Treasury’s FY-2012 Budget Proposal included two major changes to the low-income housing tax credit. The changes if enacted with create a basis boost for certain bond transactions and encourage owners to create more mixed-income housing.

Kentucky Housing Corporation (KHC) has developed an underwriting model review checklist to assist developers with completing the underwriting model and to minimize errors.

The U.S. Senate today passed the $858 billion legislative tax package by a 81 to 19 vote. Senate Majority Leader Harry Reid (D-Nev.) this week introduced the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010, a bill to extend the “Bush Tax Cuts,” as well as a number of tax credit programs that were modified by the American Recovery and Reinvestment Act (ARRA).

The Illinois Housing Development Authority (IHDA) has announced that it will extend its Multi-Family Initiative Bond program through 2011, providing low-cost fixed-rate permanent financing which will provide resources to borrowers to finance new construction, acquisition and rehabilitation or adaptive reuse of existing developments.