HUD RELEASES INCOME LIMITS FOR 2010
The U.S. Department of Housing and Urban Development (HUD) today released income limits for 2010. Click here for links to the 2010 income limits and accompanying information and tables. Under the Housing and Economic Recovery Act of 2008 (Public Law 110-289), income limits used to determine qualification levels as well as set maximum rental rates for projects funded with low-income housing tax credits (LIHTC) and projects financed with tax-exempt housing bonds - referred to by HUD as Multifamily Tax Subsidy Projects (MTSPs) - are now calculated and presented separately from the Section 8 income limits.
Novogradac & Company LLP is currently updating its Rent & Income Limit Calculator© to include 2010 data. Subscribers to the free Industry Alert E-mail service will receive an e-mail announcement when the update has been completed.
In the meantime, for questions about using the new 2010 income limits please call Jim Kroger, CPA, at (415) 356-8000 or click here to learn more about Novogradac & Company’s property compliance services.
To hear this news discussed in detail, tune in to the Tax Credit Tuesday podcast on May 18.