Tax Exempt Bonds

The Maryland Department of Housing and Community Development (DHCD) released an updated Application Submission Package to reflect the new 2019 QAP and Guide. This application package must be used for requests for financing for all competitive and noncompetitive funding sources, including Rental Housing Program Funds, Multifamily Bond Program, Federal LIHTC, Rental Housing Works, and the […]

The Virginia Housing Development Authority (VHDA) has tentatively scheduled three more tax-exempt rental housing bond issues for 2019: March 1, June 1 and Aug. 1.

Law firm Tiber Hudson LLC has been named the number 1 underwriter’s counsel in the nation by Thomson Reuters, based on the number of multi-family bond issues completed in 2018.

The North Carolina Housing Finance Agency published the list of received Housing Credit and tax-exempt bond preliminary applications. There were 153 preliminary 9% applications in 50 counties (141 new construction and 12 rehabilitation) and 16 tax-exempt bond applications. Applicants have until 10 am ET on Jan. 22 to withdraw an application and have the $5,760 […]

Senators John Hoeven (R-ND) and Ron Wyden (D-OR) reintroduced the Move America Act. The bill would expand tax-exempt private activity bonds (PAB) and create a new infrastructure tax credit (Move America Equity Credits), to help fund infrastructure projects through private-public partnerships. According the Joint Committee on Taxation, the bill would leverage $8 billion in federal investment into $226 billion worth of bond authority over the next 10 years or up to $56 billion over 10 years in tax credits.

The Oklahoma Housing Finance Agency (OHFA) is hosting a Multi-Family Bond & 4% Tax Credit workshop on Jan. 30 from 3-4:30 pm, CST at its office (100 Northwest 63rd Street Will Rogers Conference Room Oklahoma City, OK 73116). The training is free, but seating is limited, and registration is required.

The Multifamily Programs office of the Tennessee Housing Development Agency (THDA) sent an email providing several updates on its activities. THDA has yet to publish its 2019 Multifamily Tax-Exempt Bond Authority (MTBA) and Competitive Low Income Housing Tax Credit applications but wrote that they are under development and should be available soon.  

The Internal Revenue Service (IRS) issued a proposed rule on reissuance of state or local bonds. The proposed rule provides steps for determining when tax-exempt bonds are treated as retired for purposes of sections 103 and 141 through 150 of title 26 of the Code of Federal Regulations. The proposed rule also amends §1.1001–3(a)(2) of the Internal Revenue Code to conform that section to the special rules in the proposed rule for retirement of qualified tender bonds.

The Internal Revenue Service (IRS) issued a final rule that updates requirements for public approval of tax-exempt private activity bonds (PABs). All PABs are required to hold a hearing of public approval. The rule changes the reasonable public notice period from 14 to 7 days prior to the hearing and allows for the posting of the hearing on a website without other notice.

A new note from Peter Lawrence with Novogradac and Co. analyses state use of the private activity bonds (PABs). In 2017, eleven states reported no multifamily PAB issuance, up from ten in 2016 and down from the high of 30 in 2011.

The Internal Revenue Service (IRS) published the 2019 state caps for the Low Income Housing Tax Credit (LIHTC) and Private Activity Bonds (PAB) in Revenue Procedure 2018-57. The LIHTC is the greater of $2.75625 times the state population or a minimum of $3,166,875. The PAB volume cap is the greater of $105 times the state […]

The next Oregon Housing Stability Council meeting will be on Friday, November 2. The meeting will be held at Oregon Housing and Community Services (725 Summer St NE, Salem OR) in Conference Room 124 A/B. If you cannot attend in person, please join us by phone at: 1-877-273-4202; Participant Code: 4978330 AGENDA: 9:00      […]