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News

Monday, October 14, 2019

Twenty-nine members of Congress last week sent a letter to the heads of the three agencies that oversee the Community Reinvestment Act (CRA), urging them to work with civil rights groups and community groups while updating the CRA. The letter was sent to the heads of the Federal Reserve (Fed), Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC).

Monday, October 14, 2019

Betsy DeVos, the U.S. secretary of education, announced that a consulting firm was awarded a contract to conduct outreach to promote the creation and expansion of public charter schools in opportunity zones (OZs). According to the Department of Education, more than 70 percent of OZs don’t have a public charter school option.

Friday, October 11, 2019

Beto O’Rourke, a Democratic candidate for president, today released a housing plan that requires permanent affordability for homes funded by the 9 percent low-income housing tax credit. O’Rourke, a former U.S. congressman from Texas, also proposes a $400 billion investment in the National Housing Trust Fund and a $60 billion investment in the Capital Magnet Fund over a decade.

Friday, October 11, 2019

California Gov. Gavin Newsom this week signed into law a bill to create a state historic tax credit (HTC). S.B. 451 creates a state HTC for 20 percent of qualified rehabilitation expenditures (QREs), with an increase to 25 percent of QREs that meet certain criteria, including affordable housing.

Thursday, October 10, 2019

Democratic presidential candidate Michael Bennet today posted a housing plan on his website that includes a call for a 50 percent increase in allocation of 9 percent low-income housing tax credits (LIHTCs), as well as other proposals that are part of the Affordable Housing Credit Improvement Act. Bennet, a U.S.

Thursday, October 10, 2019

The Office of the Comptroller of the Currency released a list of Community Reinvestment Act performance evaluations that became public during September. Of 35 evaluations made public, 21 are satisfactory, 13 are outstanding and one is rated as needs to improve. The list of evaluations contains national banks, federal savings associations and insured federal branches of foreign banks.

Wednesday, October 9, 2019

The Internal Revenue Service (IRS) this week released the 2019-2020 priority guidance plan, which established guidance priorities for the Department of the Treasury and IRS for the period from July 1, 2019, through June 30, 2020.

Industry-Leading LIHTC Guide
The Low-Income Housing Tax Credit Handbook is the authoritative guide for affordable rental housing owners, developers, managers and investors, and the professionals who counsel them.
Comprehensive NMTC Insights and Information
From application and financing to development and compliance, the Novogradac New Markets Tax Credit Handbook is your definitive guide to the new markets tax credit (NMTC).
Essential Historic Rehabilitation Resource
The Novogradac Historic Rehabilitation Handbook contains the most current guidance on rehabilitating historic properties with the historic tax credit.