Wisconsin

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Last December, Wisconsin Act 62 created a 20 percent tax credit for rehabilitation of certain historic properties…

State Senator Elder A. Vogel Jr. (R-47th District) and a bipartisan group of Pennsylvania State Senators sponsored a bill to expand the Pennsylvania Housing Affordability and Rehabilitation Enhancement Fund, commonly known as the State Housing Trust Fund….

WHEDA has modified the Qualified Allocation Plan regarding submittal dates and selection criteria for the 2014 LIHTC “High Impact Reserve Project”. The 2014 LIHTC High Impact Project Reserve (HIPR) application is now available on LOLA, WHEDA’s LIHTC online system. Applications will be accepted from July 15-30.

WHEDA has modified the Qualified Allocation Plan regarding submittal dates and selection criteria for the 2014 LIHTC “High Impact Reserve Project”. The 2014 LIHTC High Impact Project Reserve (HIPR) application is now available on LOLA, WHEDA’s LIHTC online system. Applications will be accepted from July 15-30.

Historic preservation transactions in Wisconsin received a great boost when Wisconsin Governor Scott Walker last month signed Assembly Bill (AB) 4 into law, which allows for an increase in the amount tax credits for the substantial rehabilitation of historic buildings.

The Internal Revenue Service (IRS) announced in Revenue Procedure 2013-35 that it has set the inflation-adjusted State credit ceiling for the Low-Income Housing Tax Credit (LIHTC) program and private activity bond caps for calendar year 2014.

The Wisconsin Housing and Economic Development Authority (WHEDA) has announced that it will be hosting two informational sessions about the policy goals, application guidelines, and selection process for their new LIHTC & High Impact Project Reserve (HIPR) program.

Wisconsin Representative Chad Weininger (R-Green Bay) recently introduced legislation that streamlines and expands Wisconsin’s current historic tax credit program and raises the state match of the supplemental historic preservation credit from 5 percent to 20 percent.

The Internal Revenue Service (IRS) announced in Revenue Procedure 2012-41 that it has set the inflation-adjusted State credit ceiling for the Low-Income Housing Tax Credit (LIHTC) program and private activity bond caps for calendar year 2013.

The Internal Revenue Service (IRS) recently published Revenue Procedure 2012-42, which indicates the amounts of unused Low-Income Housing Tax Credit (LIHTC) carryovers for 2012. These carryovers, which amounts to nearly $2.43 million in unused credits, have been allocated to 34 states.

The Wisconsin Housing and Economic Development Authority (WHEDA) has released a final draft of it 2013-2014 Qualified Allocation Plan (QAP) and Scoring Exhibit. The Board is expected to take action on the proposed QAP at its meeting on August 15, 2012.