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June 1, 2015
Periodical News Brief
On May 5, the U.S. Department of Housing and Urban Development (HUD), Office of Policy Development and research released the report, “Effect of QAP Incentives on the Location of LIHTC Properties.” ...
May 1, 2015
Periodical News Brief
On March 23, the Internal Revenue Service (IRS) released Notice 2015-23, which updates the resident population figures to be used by states and localities in calculating the 2015 calendar year state housing credit ceiling and the 2015 private activity bond volume cap and volume limit. ...
April 3, 2017
Periodical News Brief
Sen. Maria Cantwell, D-Wash., Orrin Hatch, R-Utah, and 11 other U.S. senators introduced March 7 the Affordable Housing Credit Improvement Act of 2017. The legislation would include a 50 percent increase in the annual LIHTC allocation, establish a minimum 4 percent credit rate, allow income-averaging, allow states to grant a 30 percent basis boost if needed for bond-financed developments and several other provisions, including renaming the LIHTC as the “Affordable Housing Tax Credit.” The legislation was expected to be introduced in the House of Representatives. Cantwell’s office also released a report, “Meeting the Challenges of the Growing Affordable Housing Crisis,” which highlighted the impact on affordable housing of the record increase of 9 million renters in the past decade, the relatively low rate of rental housing construction, the removal of 13 percent of affordable housing homes since 2001 and stagnant wages.
October 1, 2015
Periodical News Brief
The U.S. Department of Housing and Urban Development (HUD) released the fiscal year 2016 (FY 2016) proposed fair market rents (FMRs) Sept. 3. FMRs are used to determine payment standards for the Housing Choice Voucher (HCV) program. ...
April 1, 2016
Periodical News Brief
The Internal Revenue Service (IRS) March 4 released Notice 2016-23. The IRS is requesting comments on the new partnership audit regime enacted in the Bipartisan Budget Act of 2015...
September 1, 2015
Periodical News Brief
The National Association of Home Builders (NAHB) Housing Credit Group released the study, “The Economic Impact of Repealing or Limiting Section 1301 Like-Kind Exchanges in Real Estate,” June 22. ...
March 1, 2014
Periodical News Brief
On Dec. 19, the Internal Revenue Service (IRS) released a draft audit technique guide (ATG) for the low-income housing tax credit (LIHTC) program. The guide was prepared to assist IRS examiners with auditing taxpayers, usually partnerships, owning IRC §42 lowincome housing projects ..
July 1, 2016
Periodical News Brief
The National Council of State Housing Agencies (NCSHA) submitted comments May 10 to the U.S. Department of Housing and Urban Development (HUD) on the Affirmatively Furthering Fair Housing (AFFH) Tool for States and Insular Areas.
May 2, 2017
Periodical News Brief
On March 14, the Haas Institute released the study, “Opportunity, Race, and Low-Income Housing Tax Credit Projects: An Analysis of LIHTC Developments in the San Francisco Bay Area,” which comprehensively analyzes the administration of the Low-Income Housing Tax Credit (LIHTC) program. The Haas Institute examined LIHTC properties in the San Francisco Bay Area, and results showed that developments financed by the LIHTC in the Bay Area were relatively well distributed across boundaries of opportunity. According to the report, nearly two-thirds of LIHTC developments (64.9 percent) in the nine-county area were sited in moderate, low-, and very-low-opportunity neighborhoods during the years for which data was available (1987-2014). In addition, the Haas Institute stated that 9 percent credits were more frequently used to create housing in high-opportunity neighborhoods than 4 percent credits. However, more than 45 percent of large family developments were sited in low- and very-low-opportunity areas, with these types of properties disproportionately placed in low-opportunity areas where resources for families with children are inadequate to support healthy development and upward mobility. In addition, results indicate that 9 percent LIHTC developments are sited in neighborhoods that are not racially integrated; on a ratio of 3.78-to-1 basis, and 9 percent developments were sited in neighborhoods where 50 percent or more of the population were people of color. The report is available at www.taxcredithousing.com.
April 1, 2014
Periodical News Brief
The Low and Moderate Income Housing Act of 2014 (H.R. 4130), was introduced on Feb. 28. The bill would amend the Internal Revenue Code (IRC) to read that a property meets the requirements if 50 percent or more of the residential units in such property are both rent-restricted ...
August 5, 2016
Periodical News Brief

The Internal Revenue Service (IRS) released a notice June 21 announcing that all empowerment zone designations will remain in effect through Dec. 31. This new end date applies to all empowerment zone designations that were in effect Dec. 31, 2014.