News

Thursday, April 2, 2020

The U.S. Department of Housing and Urban Development (HUD) this week published a notice to implement fiscal year 2020 funding for the housing choice voucher program.

Wednesday, April 1, 2020

The Internal Revenue Service will publish a notice in Monday’s Federal Register containing clarifications to Treasury Decision 9889, the final regulations concerning opportunity zones. The corrections cover a variety of issues set forth in TD 9889. There are 24 pages of corrections, all related to Internal Revenue Code Section 1400Z-2.

Wednesday, April 1, 2020

Jodi Harris, director of the Community Development Financial Institutions (CDFI) Fund, today released a statement concerning the organization’s adaptation to the COVID-19 pandemic. Harris said she expects the CDFI Fund to continue to administer its funding rounds “on a timely basis,” but said the CDFI Fund is “routinely evaluating” its processes.

Tuesday, March 31, 2020

The U.S. Department of Housing and Urban Development (HUD) today posted income limits to determine eligibility for HUD-assisted programs in fiscal year 2020. The limits are effective April 1 (Wednesday) and cover public housing, Section 8, Section 202 and Section 811. HUD simultaneously released Multifamily Tax Subsidy Program income limits for 2020, which are used to determine eligibility for low-income housing tax credit and tax-exempt bond properties.

Monday, March 30, 2020

Tenants in low-income housing tax credit (LIHTC) properties at the end of 2017 earned virtually the same annual income as tenants in 2015 and paid almost the same percentage of income toward rent, according to a report issued today by the U.S. Department of Housing and Urban Development (HUD).

Monday, March 30, 2020

The Internal Revenue Service (IRS) will publish a notice in Tuesday’s Federal Register, seeking comment on IRS Form 8874-A, Notice of Qualified Equity Investment for New Markets Tax Credit. There are no changes recommended for the form.

Friday, March 27, 2020

President Donald Trump today signed the Coronavirus Aid, Relief and Economic Security (CARES) Act (Senate Amendment to H.R. 748), a $2 trillion bill that includes financial aid to individuals, businesses, nonprofits and state and local governments.

Friday, March 27, 2020

The House of Representatives today passed the Coronavirus Aid, Relief and Economic Security (CARES) Act (Senate Amendment to H.R. 748), by a voice vote, sending the bill to President Donald Trump, who has said he would immediately sign the legislation. The $2 trillion bill includes financial aid to individuals, businesses, nonprofits and state and local governments.

Thursday, March 26, 2020

The House of Representatives will take up discussion of the Coronavirus Aid, Relief and Economic Security (CARES) Act (Senate Amendment to H.R. 748), after the Senate passed the COVID-19 relief legislation by a 96-0 vote last night. The House is expected to vote by Friday and President Donald Trump has said he would sign the legislation.

Wednesday, March 25, 2020

U.S. Department of Agriculture Rural Development today took several actions related to the COVID-19 pandemic, including changes for multifamily housing.