Colorado Gov. John Hickenlooper is expected today to sign into law SB 2018-007, which extends the state’s affordable housing tax credit program through Dec. 31, 2024. The Colorado tax credit was reintroduced Jan. 1, 2015, after a 13-year hiatus and is taken over six years with a $5 million annual cap.
Wisconsin Gov. Scott Walker signed a bill (Act 176) enacting a new state low-income housing tax credit (LIHTC) program, which will be administered by the Wisconsin Housing and Economic Development Authority. The Wisconsin LIHTC largely mirrors the federal program and can be matched with the federal 4 percent LIHTC.
The Georgia Department of Community Affairs today posted a draft income averaging policy. Questions and comments can be submitted to email@example.com until close of business May 30. A final policy will be incorporated into the 2018 qualified allocation plan (QAP) through a QAP amendment.
The California Debt Limit Allocation Committee (CDLAC) is seeking feedback on whether to schedule an allocation meeting Oct. 17 or Nov. 14. The organization’s executive director said in a memo that those interested in submitting an application for a tax-exempt bond allocation should indicate which date best meets the needs of their development by emailing firstname.lastname@example.org by June 22.
House Majority Leader Kevin McCarthy, R-Calif., and nine Republican colleagues introduced the Spending Cuts to Expired and Unnecessary Programs Act (H.R. 3) Wednesday, a bill that would rescind $15.4 billion in federal budget authority. Included in what the legislation would take is $151 million from the 2018 allocations for the Capital Magnet Fund, $41 million from the U.S.
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