The Maryland Department of Planning and Development adopted changes to regulations for the state historic tax credit, conforming the regulations to H.B. 1454, passed in 2018. The legislation authorized an additional 5 percent credit on top of the existing 20 percent credit for HTC developments that result in a property that receives an allocation of federal low-income housing tax credits.
The Internal Revenue Service today published Notice 2019-19, which provides population figures to use in calculating states’ 2019 calendar-year volume limits for the low-income housing tax credit (LIHTC) and private activity bonds (PABs). The LIHTC figure for each state is the greater of the population multiplied by $2.75625 or $3,166,875. The PAB cap is the greater of the population multiplied by $105 or $316,745,000.
There is a national shortage of 7 million affordable, available rental homes for extremely low-income renters, according to an annual study by the National Low Income Housing Coalition.
Sen. Elizabeth Warren, D-Mass., and two colleagues today introduced legislation to leverage federal funds to build as many as 3.2 million homes, mostly investment in the Housing Trust Fund (HTF) and Capital Magnet Fund (CMF). A companion bill to the American Housing and Economic Mobility Act was introduced by 14 members of the House of Representatives.
Legislation introduced in Colorado would double the annual allocation for the state low-income housing tax credit to $10 million, beginning in 2020. HB 19-1228 would cover the calendar years 2020 through 2024. The bill was assigned to the Finance and Appropriations Committee.
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