News

Monday, November 4, 2019

Apple Inc. today announced a $2.5 billion commitment to help address the affordable housing crisis in California, including a $1 billion investment in an affordable housing investment fund through the state that will provide an open line of credit for the state and others to develop and build new very low- to moderate-income housing.

Monday, November 4, 2019

Gov. Roy Cooper signed a bill Friday extending North Carolina’s state historic tax credit (HTC) by four years. H.B. 399 extends the state HTC’s sunset date from the beginning of 2020 to the beginning of 2024, requiring that the property be placed in service by Jan. 1, 2032.

Monday, November 4, 2019

The U.S. Department of Housing and Urban Development (HUD) today released a frequently asked questions document explaining how certain public housing conversions in opportunity zones under the Rental Assistance Demonstration program are eligible for increased contract rents.

Monday, November 4, 2019

The Texas Historical Commission adopted amended regulations effective today for the state Historic Tax Credit (HTC) program. The amended regulations concern how the commission staff accepts and reviews state HTC applications and allow the staff to close inactive applications. Closure of an inactive application does not disqualify the applicant from receiving tax credits.

Friday, November 1, 2019

The National Council of State Housing Agencies (NCSHA) this week sent comments to the Internal Revenue Service (IRS) on how the IRS can improve low-income housing tax credit disaster relief guidance provided in Revenue Procedures 2014-49 and

Friday, November 1, 2019

The U.S. Department of Housing and Urban Development (HUD) will publish in Monday’s Federal Register a notice seeking comment on its collection of information for the Public Housing Capital Fund program.

Friday, November 1, 2019

U.S. Reps. Peter King, R-N.Y., and Bill Pascrell, D-N.J., introduced a bill that would extend the renewable energy investment tax credit (ITC) for offshore wind projects. The Offshore Wind Power Act of 2019 (H.R. 4887) is the companion bill to S. 1988, introduced in June.

Thursday, October 31, 2019

The Internal Revenue Service today released a draft form of Form 8996, which is used by qualified opportunity funds (QOFs).

Thursday, October 31, 2019

Reps. Brad Wenstrup, R-Ohio, and Danny Davis, D-Ill., introduced the Housing for Homeless Students Act of 2019, which would make homeless and recently homeless youth and veterans eligible to live in properties financed by low-income housing tax credits. The bill is a companion bill to S. 767, which was introduced in March. The LIHTC “student rule” prohibits tenants from being full-time students, with some exceptions.

Tuesday, October 29, 2019

California Debt Limit Allocation Committee (CDLAC) staff will recommend during its Dec. 11 meeting to make competitive the February 2020 allocation round for tax-exempt bonds. The threshold score cutoff is 80 for applications for bond allocations in the February round–when CDLAC will consider the allocation of bonds to properties awarded state low-income housing tax credits (LIHTCs) in January.