Recent News
The Internal Revenue Service (IRS) published Revenue Procedure 2020-42 announcing $3,105,001 of unused low-income housing tax credits (LIHTCs) allocated from the national pool to 33 qualified states for calendar year 2020. Allocations range from $7,450 for Vermont to $471,731 for California, with an average allocation of $94,091. The national pool in 2020 reflects an increase from the $2.7 million in unused LIHTCs in 2019.
The California Tax Credit Allocation Committee (TCAC) released proposed regulation changes Wednesday related to the allocation of extra federal low-income housing tax credits (LIHTCs) for 2020 and 2021 for wildfire-damaged areas. Most of the extra LIHTCs were allocated in the 2020 round, so TCAC will establish a waiting list for leftover credits, with the most-damaged counties taking priority.
The Missouri Housing Development Commission (MHDC) approved a state qualified allocation plan and issued notices of funding availability for the state low-income housing tax credit (LIHTC) program for the first time since 2017, when then-Gov. Eric Greitens and the MHDC voted to stop matching federal LIHTC awards with state funds.
The U.S. Department of Housing and Urban Development (HUD) will publish a notice in Thursday’s Federal Register designating difficult development areas (DDAs) and qualified census tracts (QCTs) for 2021 for purposes of the low-income housing tax credit (LIHTC). DDAs and QCTs are eligible for a 30 percent basis boost in LIHTC properties.
The U.S. Department of Housing and Urban Development (HUD) will publish a final rule in Thursday’s Federal Register for HUD’s implementation of the Fair Housing Act’s disparate impact standard.
