Recent News
The low-income housing tax credit (LIHTC) remains the largest provider of assisted rental affordable housing in America and a 12.5 percent increase in LIHTC allocations over the next four years will provide a boost, but there remains a significant gap in affordable housing, according to the State of the Nation’s Housing 2018.
The Massachusetts Supreme Judicial Court affirmed a lower court’s summary judgment supporting a nonprofit’s right of first refusal to purchase a low-income housing tax credit (LIHTC) property once a third party makes an enforceable offer to purchase the property. The court in Homeowner's Rehab Inc. v.
The National Council of State Housing Agencies (NCSHA) this week sent a letter to the Internal Revenue Service and the Department of the Treasury concerning the implementation of income averaging in low-income housing tax credit properties. The letter seeks state flexibility in establishing income-averaging guidelines and determining how to approach compliance monitoring.
The Treasury Department today designated the final round of qualified opportunity zones (OZs) in four states: Florida, Nevada, Pennsylvania and Utah. Investors in qualified opportunity funds that invest in qualified OZs can defer tax on prior gains until no later than Dec. 31, 2026. With this final round, OZs have been designated in all 50 states, the District of Columbia and five U.S. possessions.
There is a national shortage of 7.2 million available, affordable rental homes to extremely low-income renters in America and no state or major metropolitan area has an adequate supply, according to “Out of Reach 2018,” a report released today by the National Low-Income Housing Coalition (NLIHC).
