Recent News

Tuesday, February 18, 2020

Maine Gov. Janet Mills signed legislation to create state low-income housing tax credit (LIHTC). H.P. 1180 creates a state LIHTC equal to the federal LIHTC, beginning Jan. 1, 2021. The Maine LIHTC will have a $10 million annual statewide cap, but unallocated funds can be carried forward to create a maximum $15 million per year.

Tuesday, February 18, 2020

The U.S. Department of Housing and Urban Development (HUD) has published average income minimum set asides for low-income housing tax credit properties.

Wednesday, February 12, 2020

A bill introduced in the Utah House of Representatives would create a tax credit for building eligible parking structures in opportunity zones (OZs) and make affordable housing in OZs eligible for state programs. H.B. 299 would create a nonrefundable tax credit for 25 percent of eligible construction costs paid for an eligible parking structure in an OZ.

Monday, February 10, 2020

The White House today released its proposed $4.8 trillion budget for fiscal year (FY) 2021 that includes an $8.6 billion (15 percent) decrease in funding for the U.S. Department of Housing and Urban Development (HUD), with the elimination of the Community Development Block Grant and HOME Investments Partnership programs.

Thursday, February 6, 2020

Legislation introduced in Maryland would create a state low-income housing tax credit (LIHTC) worth up to the federal LIHTC award for properties that require the state benefit. S.B. 715 would provide credits to developers of LIHTC properties who enroll in the state program for fiscal years 2021, 2022 and 2023. Credits would be issued to properties that require the funding to make the development economically feasible.

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