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August 1, 2015
Periodical News Brief
The Joint Center for Housing Studies of Harvard University (JCHS) released the report, “The State of the Nation’s Housing 2015” June 24. JCHS provides an assessment of the state of the rental and homeownership markets in its annual report. ...
January 1, 2014
Periodical News Brief
On Nov. 15, the U.S. Department of Housing and Urban Development (HUD) designated difficult development areas (DDAs) for 2014. Qualified census tracts (QCTs) published on April 20, 2012 remain in effect. The notice also announced a change in the designation methodology
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.
January 6, 2016
Blog Article
August 4, 2017
Periodical News Brief

Rep. Maxine Waters, D-Calif., and seven other members of the House Financial Services Committee reintroduced June 27 comprehensive legislation to preserve and revitalize the nation’s public housing stock. The Public Housing Tenant Protection and Reinvestment Act of 2017 would preserve public housing and transform extremely impoverished neighborhoods by authorizing full funding for the program plus additional funding to address the backlog of capital needs. The bill would also provide a loan guarantee for public housing agencies to attract outside investment into public housing units, as well as authorize a grant program that focuses on revitalizing the most distressed public housing units. In addition, the legislation would require one-for-one replacement in cases where public housing units are demolished or sold and increase tenant protections to help ensure that residents have the option to stay in the communities that they call home. The bill and accompanying documents are available at www.hudresourcecenter.com.

Conference Subpage
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. ...

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 ..

June 1, 2017
Periodical News Brief

The Rural Housing Service released a notice in the May 3 Federal Register announcing a series of teleconferences and/or web conference meetings concerning the U.S. Department of Agriculture (USDA) multifamily housing program. The objectives of the series is to enhance the effectiveness of the multifamily housing program, establish a two-way communications forum to update industry participants and Rural Housing Service (RHS) staff, enhance RHS’ awareness of issues that impact multifamily housing and to increase transparency and accountability in the multifamily housing program. Discussion topics will include updates on USDA multifamily housing program activities, perspectives on the multifamily housing notice of funds availability processes and comments on multifamily transaction processes. The meetings are scheduled to occur quarterly during 2017, with the dates and times to be announced via email to registered parties. The notice can be viewed at www.taxcredithousing.com. 

July 5, 2017
Periodical News Brief

Melvin L. Watt, director of the Federal Housing Finance Agency (FHFA), May 11 appeared before the U.S. Senate Committee on Banking, Housing and Urban Affairs to discuss the status of the housing finance system after nine years of conservatorship. He reviewed the FHFA’s statutory mandates to manage Fannie Mae’s and Freddie Mac’s (the Enterprises’) day-to-day operations and stated that these conservatorships are not sustainable and they need to end as soon as Congress can chart the way forward on housing finance reform. Watt highlighted important changes and reforms that have taken place during the conservatorships and said that FHFA must continue to meet its obligations while housing finance reform takes place. Watt closed by saying that the most significant challenge FHFA faces as conservator is that additional draws of taxpayer support would reduce the amount of taxpayer backing available to the Enterprises. He added that it would be a misconception for members of the committee to consider any actions that FHFA may take as conservator to avoid additional draws of taxpayer support as an effort to influence the outcome of housing finance reform or as a step toward recap and release. Watt concluded that the FHFA’s actions would be taken solely to avoid a draw during conservatorship. 

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July 1, 2014
Periodical News Brief

On June 10, former U.S. Senate Majority Leader George Mitchell and former U.S. Senator Christopher Bond issued a statement supporting H.R. 4717. The bill would amend the Internal Revenue Code of 1986 to make permanent the 9 percent credit rate floor for new construction, and create...

July 1, 2011
Periodical News Brief

The Internal Revenue Service (IRS) is soliciting comments concerning the low-income housing tax credit (LIHTC) regulations for federally assisted buildings.

December 1, 2015
Periodical News Brief

The Internal Revenue Service (IRS) released Revenue Procedure (Rev. Proc.) 2015-49 Oct. 13. Rev. Proc. 2015-49 provides the amounts of unused 2015 Low-Income Housing Tax Credit (LIHTC) carryovers allocated to qualified states under Section 42 of the Internal Revenue Code (IRC). ...