Recent News
Democratic presidential candidate Pete Buttigieg today released a plan that includes spending $430 billion on affordable housing measures. Buttigieg’s plan includes more investment in low-income housing tax credits, as well more investment in the Housing Trust Fund, Capital Magnet Fund, and the U.S. Department of Housing and Urban Development’s HOME funds and Community Development Block Grants.
The Internal Revenue Service today issued the inflation-adjusted amounts for states’ low-income housing tax credit (LIHTC) and private activity bonds (PAB) for 2020. Revenue Procedure 2019-44 sets the state ceiling for the LIHTC at the greater of $2.8125 multiplied by the state population or $3,217,500. The per-capita number is an increase of 2 percent over 2019 and the state minimum is an increase of $50,625.
The California Tax Credit Allocation Committee posted an updated frequently asked questions (FAQ) document concerning the application for the state’s $500 million in low-income housing tax credits (LIHTCs) to be paired with 4 percent federal LIHTCs. The FAQs include information on pairing the credits with bonds, the required date to begin construction and an explanation of the application evaluation process.
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.
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
Recent Updates
November 12, 2019 10:29am
