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HUD to Publish Notice with 2022 DDAs, QCTs
The U.S. Department of Housing and Urban Development (HUD) will publish in Thursday’s Federal Register a notice designating 2022 difficult development areas (DDAs) and qualified census tracts (QCTs) for purposes of the low-income housing tax credit (LIHTC). The statutorily mandated notice designates DDAs for all 50 states, the District of Columbia, Puerto Rico, Guam, the Northern Mariana Islands and the U.S. Virgin Islands. The notice also designates QCTs based on new income and poverty data released in the American Community Survey. LIHTC properties built in a DDA or QCT are qualified to increase their eligible basis by up to 30%. The 2022 QCTs and DDAs are effective for LIHTC allocations after Dec. 31, 2021, or for buildings placed in service after Dec. 31, 2021, if the properties are financed by tax-exempt bonds.
The role of DDAs and QCTs in affordable housing development will be among the many topics discussed at the Novogradac 2021 Affordable Housing Tax Credit Conference Sept. 30-Oct. 1 in Nashville.