The Internal Revenue Service today announced the 2019 inflation-adjusted amounts for low-income housing tax credit (LIHTC) and private activity bond (PAB) caps. Revenue Procedure 2018-57 sets the state LIHTC ceiling at the greater of $2.75625 multiplied by the state population or $3,166,875.
The Treasury Department on Thursday released the 2018-2019 Priority Guidance Plan, which includes plans to provide guidance for the low-income housing tax credit (LIHTC), new markets tax credit (NMTC) and historic tax credit (HTC). The Priority Guidance Plan covers the period from July 1, 2018, through June 30, 2019.
Results from Tuesday’s elections–with Democrats taking control of the House of Representatives and Republicans maintaining control of the Senate–and their effect on the affordable housing, community development and renewable energy communities are the subject of a Notes from Novogradac blog post and a
The Federal Housing Finance Agency (FHFA) today announced that Fannie Mae and Freddie Mac each have $35 billion multifamily lending caps for 2019. Those figures are unchanged from 2018 and are based on FHFA’s projections of the size of the 2019 multifamily originations market. The FHFA will review its estimates of the multifamily loan origination market each quarter and will adjust caps if necessary, although it will not reduce the caps.
The National Council of State Housing Agencies (NCSHA) submitted a letter to the Internal Revenue Service asking for guidance clarifying that residential real estate property qualifies as opportunity zones (OZs) property and addressing five other OZ issues.
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