Property Compliance News Briefs – June 2018

Tuesday, June 5, 2018

The National Council of State Housing Agencies released April 6 its list of frequently asked questions on housing credit income averaging. Questions include what is income averaging, must a state allow income averaging for developments applying for credits (or seeking bond-financed credits) in 2018 and subsequent years, must a state modify its qualified allocation plan or related regulatory document(s) before allowing income averaging, must the Internal Revenue Service (IRS) issue guidance before states can allow income averaging, must IRS revise Form 8609 before states can allow income averaging and how does income averaging apply to tax-exempt bond-financed 4 percent credit deals? The FAQs are available at www.ncsha.org.

***

Mississippi Home Corporation (MHC) will hold a webinar June 14 on 2018 development financial analysis report (DFAR) requirements. MHC’s briefing will provide an in-depth look on how to document a development’s financial activity through MHC’s DFAR web application. More information is available at www.mshomecorp.com. 

Journal Category: