All News

Friday, August 16, 2019

The U.S. Department of Housing and Urban Development (HUD) will publish in Monday’s Federal Register a proposed rule to amend the interpretation of the Fair Housing Act’s (FHA’s) disparate impact standard.

Thursday, August 1, 2019

The U.S. Senate voted 67-28 Thursday to pass a two-year, $2.7 trillion discretionary budget agreement, sending the legislation to President Donald Trump, who is expected to sign it. The budget deal, which was passed last week by the House of Representatives, would suspend the federal debt ceiling until July 31, 2021, and contains no provisions to extend expired or expiring tax provisions.

Thursday, July 25, 2019

The House of Representatives today passed a two-year, $2.7 trillion discretionary budget agreement by a 284-149 vote. The agreement would also suspend the federal debt ceiling until July 31, 2021. The budget deal would give defense programs a 3 percent increase from $647 billion in fiscal year 2019 to $666.5 billion in fiscal year 2020 and nondefense programs a 4 percent increase from $597 billion in fiscal year 2019 to $621.5 billion in fiscal year 2020. The fiscal year 2021 spending caps would be $671.5 billion for defense and $626.5 billion for nondefense.

Monday, July 22, 2019

Rep. Al Lawson, D-Fla., and 14 co-sponsors introduced legislation to strengthen enforcement of inspections in housing subsidized by the U.S. Department of Housing and Urban Development (HUD). A press release from Lawson’s office said that H.R. 3745, HUD Inspection Act of 2019, would create tougher standards for required physical conditions and provide HUD with greater enforcement authority.

Monday, July 1, 2019

Eligible basis should be reduced for noncompliance of the common area for low-income housing tax credit (LIHTC) properties, according to a memorandum from the Office of Chief Counsel of the Internal Revenue Service.

Friday, June 28, 2019

California Gov. Gavin Newsom signed a $214 billion budget Thursday that includes a $500 million annual increase in state low-income housing tax credit (LIHTC) allocation and $650 million targeted to provide homes, rental assistance and navigation services to decrease homelessness. The LIHTC increase will go primarily to properties using the 4 percent credit to build new housing.

Thursday, June 27, 2019

The percentage of cost-burdened renters dropped slightly, but there remains a significant gap in affordable housing, according to the State of the Nation’s Housing 2019 report issued by the Joint Center for Housing Studies at Harvard University. The annual report says that 1.5 million units of housing should be built each year, which is 260,000 units more than were built in 2018.

Tuesday, June 25, 2019

President Donald Trump today signed an executive order to establish a White House Council on eliminating Barriers to Affordable Housing Development. The group will consist of members from eight federal agencies and the chairman will be Ben Carson, secretary of the U.S. Department of Housing and Urban Development.

Tuesday, June 25, 2019

Four U.S. Senators today introduced legislation that would repeal the qualified contract option for the federal low-income housing tax credit (LIHTC). The Save Affordable Housing Act of 2019, introduced by Sens. Ron Wyden, D-Ore., Todd Young, R-Ind., Ben Cardin, D-Md., and Sherrod Brown, D-Ohio, includes a provision to eliminate the qualified contract option for future LIHTC allocations.

Tuesday, June 25, 2019

The Community Development Financial Institutions (CDFI) Fund today opened the fiscal year 2019 funding round for the Capital Magnet Fund (CMF). Through the CMF, the CDFI Fund makes awards to CDFIs and qualified nonprofit housing organizations to finance affordable housing activities, related economic development activities and community service facilities.

Wednesday, June 19, 2019

A Texas bill that would have prohibited educational quality to be part of the scoring system for the state’s low-income housing tax credit (LIHTC) qualified allocation plan was vetoed by Gov. Greg Abbott. H.B. 1215 would have allowed education quality to be a part of the threshold criteria for eligibility for the LIHTC, but not as part of the scoring.

Tuesday, June 18, 2019

The National Low-Income Housing Coalition (NLIHC) released its 2019 Out of Reach Report today, concluding that in 99 percent of American counties, a full-time, minimum-wage worker can’t afford a one-bedroom rental home at fair market rent.

Tuesday, June 18, 2019

The House Ways and Means Committee will mark up Thursday H.R. 3301, The Taxpayer Certainty and Disaster Tax Relief Act of 2019, legislation that includes extensions through 2020 of numerous expired and expiring tax credits. The bill would extend the new markets tax credit through the end of 2020 with an increase in allocation authority from $3.5 billion to $5 billion for the final allocation round.

Thursday, June 13, 2019

The California Legislature today approved a $214.8 billion budget that includes a $500 million increase for the state low-income housing tax credit (LIHTC). The budget is for the fiscal year that begins July 1 and Gov. Gavin Newsom has 12 days to sign or veto the legislation, although he can use a line-item veto on some budget items. Newsom is a proponent of the LIHTC increase, having included it in his budget request.

Thursday, June 13, 2019

Nevada Gov. Steve Sisolak this week signed legislation into law that creates a state low-income housing tax credit (LIHTC). S.B. 448 creates a transferable state LIHTC with an annual statewide cap of $10 million that can be carried forward if unused. The state LIHTC has a sunset date of Jan. 1, 2030. Nevada becomes the 18th state with a state LIHTC incentive.

Tuesday, June 11, 2019

A Texas bill that would allow educational quality to be a part of the threshold criteria for eligibility for low-income housing tax credit (LIHTC) allocation, but not part of the scoring system in the qualified allocation plan passed both houses of the Legislature and was sent to Gov. Greg Abbott. H.B. 1215 would expire Sept. 1, 2021, and would require a study on the effects of the law.

Tuesday, June 11, 2019

The U.S. Department of Housing and Urban Development (HUD) will publish a notice in Wednesday’s Federal Register announcing the monthly per-unit fee rates used to determine administrative fees for each public housing agency that administers certain HUD programs. The fees involve the Housing Choice Voucher and Moderate Rehabilitation programs for calendar year 2019 (CY 2019).

Tuesday, June 4, 2019

A post on the Notes from Novogradac blog highlights the provisions, benefits and outlook for the Affordable Housing Credit Improvement Act, which was introduced today in both chambers of the U.S. Congress. Sens. Maria Cantwell, D-Wash.; Johnny Isakson, R-Ga.; Ron Wyden, D-Ore.; and Todd Young, R-Ind.; introduced S. 1703, while Reps.

Tuesday, June 4, 2019

Sens. Maria Cantwell, D-Wash.; Johnny Isakson, R-Ga.; Ron Wyden, D-Ore.; and Todd Young, R-Ind.; today introduced S. 1703, the Affordable Housing Credit Improvement Act of 2019 (AHCIA). The bill builds on similar low-income housing tax credit (LIHTC) legislation introduced in 2017 during the last Congress and retains two key provisions from S.

Tuesday, June 4, 2019

The Nevada Assembly voted 40-1 Monday to approve legislation creating a state low-income housing tax credit (LIHTC) beginning in 2020. S.B. 448, which earlier passed the Senate, now goes to the desk of Gov. Steve Sisolak. The bill would create a transferable state LIHTC with an annual cap of $10 million, which can be carried forward if unused. The bill has a sunset date of Jan. 1, 2030.