Recent News
The Novogradac Rent & Income Limit Calculator© has been updated in beta version to include the fiscal year 2018 rent and income limit data released March 30. The Novogradac Rent & Income Limit Calculator© will calculate IRC Section 42(i)(3)(A) low-income housing tax credit rent and income limits for every county and for every metropolitan statistical area in the United States.
The Treasury Department yesterday designated qualified opportunity zones (OZs) in Alabama, Delaware, Missouri, Ohio, Texas and the Northern Marianas Islands. Investors in qualified opportunity funds that make investments in qualified OZs can defer tax on prior gains until no later than Dec. 31, 2026.
The Internal Revenue Service (IRS) will publish Rev. Proc. 2018-22 April 30 to reflect an increase in the state low-income housing tax credit (LIHTC) ceiling enacted through the Consolidated Appropriations Act of 2018. The amended state LIHTC ceiling is the greater of $2.70 multiplied by the state population or $3.105 million. The modifications are in effect for taxable years beginning in 2018.
The U.S. Department of Housing and Urban Development today awarded $28 billion in long-term disaster recovery aid to nine states, Puerto Rico and the U.S. Virgin Islands through the Community Development Block Grant Disaster Recovery (CDBG-DR) program. The CDBG-DR grants will address housing, business and infrastructure damage from the series of 2017 major hurricanes–Harvey, Irma and Maria–and other major disasters since 2015.
Legislators from New Hampshire introduced bills in the House and Senate to extend rental assistance through the United States Department of Agriculture’s (USDA’s) Rural Development (RD) program. Sen. Jeanne Shaheen, D-N.H., and Rep.
