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HUD REVISES RENT RULES FOR PBV UNITS RECEIVING LIHTCS

Tuesday, May 1, 2007 - 7:30AM

The U.S. Department of Housing and Urban Development today proposed a rule that would revise the low-income housing tax credit (LIHTC) rent provisions of HUD's Project Based Voucher (PBV) program rule. The rule, which was published on October 13, 2005, and took effect on November 14, 2005, capped PBV rents at the LIHTC rent in buildings with LIHTC units, even in cases where HUD formerly permitted such units to receive the higher rents permitted under the PBV program. After giving the issue further consideration, HUD now proposes to revert to the regulations in effect prior to the October 13, 2005 final rule that did not necessarily require public housing agencies (PHAs) to cap section 8 maximum rents at the LIHTC rent. Click here for more information. Comments on this proposal will be accepted until July 2, 2007.

To discuss this proposal, as well as the latest legislation and other matters of interest to the LIHTC and tax-exempt housing bond industry, join industry expert at Novogradac & Company LLP’s Credit & Bond Financing Conference, May 17-18, 2007 in New Orleans, La.

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