Thank you to our Conference Sponsors

As we get closer and closer to selling out the 2018 NCP Conference, I wanted to take a moment to thank our Conference Sponsors for their support.  Without their financial assistance, we could not put on such a great event! Thank you so much… Interesting in joining the above companies in giving back to the […]

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Restoring Tax Credits for Affordable Housing Act

On July 26, 2018, Rep James Clyburn (D-SC) introduced the Restoring Tax Credits for Affordable Housing Act which proposes to increase the 9% & 4% credit percentages, state allocations from $2.70 to $2.90, and the small state minimum from $3.1 million to $3.365 million to offset reduction in housing resources that resulted from the 21% […]

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Task Force on the Impact of the Affordable Housing Crisis Act

On July 18, 2018,  9 Senators introduced legislation proposing to create bipartisan group to examine & respond to the affordable housing crisis. The task force would evaluate and quantify the impact that a lack of affordable housing has on other areas of life and life outcomes for individuals; evaluate and quantify the costs incurred by […]

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Rent Relief Act

On July 16, 2018, Senator Kamala Harris (D-CA) introduced the Rent Relief Act of 2018 (S. 3250) proposing to create a refundable tax credit for renters paying more than 30% of their gross income on housing annually. As per the proposal, households earning $25,000 or less would receive a dollar for dollar tax credit. The […]

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2018 Conference Agenda NOW Available

Drum roll please… the 2018 Conference Agenda is now available!! Finally! I know it may seem late in coming, but I wanted to craft an agenda that was timely and relative to the place we find ourselves within the industry. This meant waiting as long as I could so I could be sure to include the […]

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HUD Publishes 2 RAD Notices 

On July 3, HUD published 2 notices describing changes in the RAD program. The first notice increases the number of public housing units eligible for RAD conversion to 455,000 units from 225,000 units and extends the period for project applications until September 30, 2024. The second notice outlines 4 changes to the public housing conversion process… A streamlined conversion option […]

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REAC Implements New Mold Detection Procedures

REAC has instituted some changes to how it will be testing for mold and mildew. For a period of one year starting June 18, 2018, a select number of inspections will include the use of moisture meters and infrared technology in an effort to detect issues with moisture and mold before it becomes a health […]

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HUD Seeks Comments on Fair Housing Act Disparate Impact Standard Final Rule

On June 20, 2018, HUD published an advanced notice of its proposed rule inviting comments on HUD’s 2013 Implementation of the Fair Housing Act’s Discriminatory Effects Standard final rule as it seeks to determine what changes to the rule, if any, may be needed to reflect the outcome of the 2015 Supreme Court case Texas […]

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White House Proposes Reorganization of the Federal Government

In mid-June 2018, the Trump Administration released a report — Delivering Government Solutions in the 21st Century —  calling on Congress to reorganize the federal government’s executive agencies in an effort to streamline government operations. The plans call for the transfer of various federal programs to different agencies and the merger of federal agencies, some […]

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NCSHA Comments on IRS’s 2018-19 Priority Guidance Plan

In response to IRS’ request for comments, NCSHA recommended various Housing Credit and bond related issues be included in the Services’ 2018-2019 Priority Guidance Plan. The IRS’s Priority Guidance Plan identifies projects IRS intends to work on in the next year. The 2018-2019 plan describes the items the Service plans to work on during the […]

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Treasury Completes the Designation of Opportunity Zones in All 50 States and 5 Territories

In May 2018, Treasury designated qualified opportunity zones (OZs) in all states & territories but Florida, Nevada, Pennsylvania and Utah. On June 14, 2018, these final 4 states had their opportunity zones designated which means all 50 states, the District of Columbia and the 5 U.S. territories (American Samoa, Guam, Northern Mariana Islands, Puerto Rico and […]

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NCSHA Income Averaging Letter to IRS and Treasury

On June 13, 2018, the NCSHA submitted a letter to the Treasury Department and the IRS in regards to the new income averaging minimum set-aside option in the hopes to ensure its successful implementation. State Agency Implementation In the letter, NCSHA indicates that some State Allocation Agencies are already working to establish procedures so owners […]

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IRS Releases Updated IRS Form 8609

On May 31, 2018, the IRS published a newly revised 8609 form providing the option to choose the new income averaging minimum set aside under the Housing Credit program. The instructions for the form are still not updated nor has the IRS Form 8823.

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NCSHA Develops Income Averaging Q & A

To assist our industry in understanding and implementing the new Income Averaging election, NCSHA has developed an Income Averaging Q&A with answers to frequently asked questions. 

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2 Important Changes Made to the LIHC Program

The Consolidated Appropriations Act of 2018 created 2 important changes to the Housing Credit Program… Increases in Available Credit and Income Averaging… both of which are explained here. 

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USDA Debuts New RHS Program Eligibility Maps

The USDA announced proposed changes to the maps it uses under the Rural Housing Service. The proposed maps will go into effect on June 4, 2018.

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2018 Income Limits Released

As promised, HUD released the 2018 income limits on March 30, 2018 with an effective date of April 1, 2018. As per Revenue Ruling 94-57, Housing Credit income limits must be implemented on the effective date or 45 days from the publication date, whichever is LATER.

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Omnibus Spending Bill Signed Into Law

On March 23, 2018, President Trump signed a $1.3 trillion FY 2018 omnibus spending bill to keep the government opened through September 30, 2018. This law includes… 12.5% allocation increase for the next 4 years for 9% Housing Credit deals, An Income averaging option for Housing Credit properties, A $4.7 billion annual budget increase for […]

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Conference Update: 2 Seats Left!!

Seats are continuing to go fast for our 2018 National Compliance Professional (NCP) Conference. Since last announcing this year’s demand, numerous individuals heeded our warning & took advantage of the summer discounts leaving us with ONLY 2 SEATS. If you would like join us for the last of 3 remaining Conferences before Elizabeth retires, you […]

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Interim Final Rule on Streamlining Administrative Regulations Under the FAST Act Effective

On March 8, 2016, HUD published a final rule streamlining regulatory requirements pertaining to certain elements of various multifamily housing programs including, but not limited to, the Housing Choice Voucher (HCV) and Public Housing (PH).

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HUD to Release FY 2018 Income Limits March 30

In 2011, HUD set a December 1 income limit target release date. However, in 2015, Congress changed how the extremely low-income limit was determined tying it to the release of the Health & Human Services poverty guidelines which are not released until mid- to late-January making it impossible for HUD to meet this target date.

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IRS Releases Adjusted 2018 Caps for LIHTCs, PABs

On March 2, the IRS issued Revenue Procedure 2018-18 , which includes updated LIHTC and private activity bond state cap numbers based on a chained CPI. 

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IRS Issues Guidance On Designating Census Tracts as Qualified Opportunity Zones

On February 8, 2018, the IRS issued Revenue Procedure 2018-16 providing guidance to state and territorial governors and the mayor of the DC on the necessary procedure for designating census tracts as Qualified Opportunity Zones (QOZ) in order to take advantage of the new Opportunity Zones program established in the recently enacted tax reform bill.

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Housing Credit Disaster Relief Expanded for Puerto Rico

On February 9, the IRS issued Notice 2018-17 expanding the general disaster relief contained in Revenue Procedures 2014-49 and 2014-50 specifically providing  guidance on Housing Credit disaster relief for Puerto Rico.

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