Treasury Releases Fourth-Quarter Update to Priority Guidance Plan

Thursday, August 29, 2019 - 10:45am

Issues concerning the low-income housing tax credit (LIHTC), historic tax credit (HTC) and new markets tax credit (NMTC) remain part of the Treasury Department’s 2018-2019 Priority Guidance Plan. The fourth-quarter update, released Wednesday, includes plans to provide guidance for the LIHTC average-income test, guidance on the use of private-activity bonds for affordable housing, a revenue procedure concerning the use of the HTC with disaster relief and regulations to clarify rules for the NMTC. The Priority Guidance Plan covers the period from July 1, 2018, through June 30, 2019, and includes a list of projects that were completed, including two tranches of guidance for the opportunity zones incentive and final regulations concerning LIHTC compliance monitoring and utility allowances.