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Recent News
The U.S. Department of Treasury and the U.S. Department of Housing and Urban Development (HUD) today announced the allocation of an additional $21.6 billion in emergency rental assistance (ERA) allocation. The allocations are made under the American Rescue Plan for Emergency Rental Assistance.
A federal judge ruled today that the Centers for Disease Control and Prevention lacked statutory authority to issue a nationwide eviction moratorium. In his ruling in Alabama Association of Realtors vs. United States Department of Health and Human Services, U.S. District Court Judge Dabney Freidrich wrote, “The question for the Court is a narrow one: Does the Public Health Service Act grant the CDC the legal authority to impose a nationwide eviction moratorium? It does not.” The current eviction moratorium is set to run through June 30. There was no immediate word on whether the CDC would appeal the ruling.
Legislation in Hawaii that would extend the sunset date of the state low-income housing tax credit (LIHTC) to 2027 and clarify how partners can claim the LIHTC is on the desk of Gov. David Ige. H.B. 80 would extend the sunset date of the state LIHTC to Dec. 31, 2027, and clarify when and how taxpayer partners may claim the LIHTC on state taxes, regardless of whether the partner is deemed to be a partner for federal income tax purposes.
The Montana Senate narrowly passed legislation creating a state low-income housing tax credit (LIHTC) and the bill is now headed to the desk of Gov. Greg Gianforte. H.B. 397, which would create a Montana workforce housing credit that could be paired with federal LIHTCs for tax years beginning on or after Jan. 1, 2022. The statewide cap would be 50% of the federal cap for any year and would sunset at the end of 2026.
Sen. John Hoeven, R-North Dakota, and Sen. Ron Wyden, D-Oregon, this week reintroduced the Move America Act to bring billions of dollars to grow and repair infrastructure through an expansion of private activity bonds and the creation of an infrastructure tax credit. S. 1403 would allocate Move America Bonds to states, based on population size. The legislation would allow smaller states the ability to trade in some or all of their bond allocation for federal tax credits at a 25% exchange rate
