Compliance News Briefs - December 2021
The deadline to place in service Texas properties that received low-income housing tax credits (LIHTCs) in 2019 was pushed forward six months to June 30, 2022, from Dec. 31, 2021. The Texas Department of Housing and Community Affairs extended the deadline in October as part of COVID-19 pandemic disaster relief.
The Michigan State Housing Development Authority (MSHDA) updated utility allowance schedules for developments that use its public housing authority allowances. Any subsequent changes to rents face a 90-day introduction and adjustment period beginning Jan. 1, 2022, and must be implemented no later than April 1, 2022. Utility allowances vary by region, with MSHDA carving the state into four geographic areas.
SC Housing partnered with community organizations to launch SC Stay Plus, a rent and utility assistance program for renters financially effected by the COVID-19 pandemic in South Carolina. Renters can receive up to one year of financial support for back rent and/or help with past-due utilities, moving costs and hotel or motel expenses. SC Housing estimates more than 6,400 families with nearly $30 million in rent and utility payments have been helped as of October.