Category: Latest News

On March 13, HUD sent a notification to all REAC inspectors stating that currently scheduled inspections were to be canceled for an undetermined period of time due to the coronavirus pandemic.

On March 12, HUD released a Q&A document to help affordable housing professionals address the COVID-19 pandemic and will continue to update this document, contained at their website, as new information comes available. CLICK HERE to access this document.

On March 2, the IRS published Notice 2020-10 providing the population figures used in calculating each states’ 2020 calendar-year volume limits for the Housing Credit and private activity bond (PAB) programs. The Housing Credit figure for each state is the greater of the population multiplied by $2.8125 or $3,217,500. The PAB cap is the greater of […]

Last month, I posted a new course — Housing Credits 525: Understanding the Average Income Test at the Housing Credit Training Center with a special introductory price of $149 which expired on 3/31/2020. In an effort to assist our industry in this crazy time, we are extended this sale price for another month.

Elizabeth has recently updated Housing Credits 300: Compliance Basics for INDIANA Properties! The new version of this course is now available and includes all the recent changes made to IHCDA’s (Indiana Housing & Community Development Authority) compliance manual including AIT and VAWA.

On February 18, HUD published the income limits for properties that elected the Average Income Test minimum set-aside option. HUD’s numbers include limits for every increment from 20% to 80% AMGI in each state and metropolitan statical area and bases them on the fiscal year 2019 Multifamily Tax Subsidy Project income limits.

On January 28, HUD released FHEO Notice 2020-01– Assessing a Person’s Request to Have an Animal as a Reasonable Accommodation Under the Fair Housing Act — providing new guidance when receive an assistance animal request.

On January 29, the IRS published Revenue Ruling 2020-04 clarifying the determination of income limits under the LIHC program’s Average Income Test. The ruling indicates we are to continue to base our income limits on HUD’s very low-income limit (VLI or 50% AMGI) , specifically stating…

On October 4, NCSHA published their updated Best Practice forms for the Housing Credit Program. These were revamped with the help of several state agencies and compliance experts. The revamped forms include:

On August 19, HUD published a proposed rule amending the Fair Housing Act’s disparate impact standard in the Federal Register. HUD indicates this proposed rule is due to the 2015 Supreme Court decision in the TDHCA vs. Inclusive Community Project, Inc. case. The rule would provide a framework to establish legal liability for practices that […]

Back in 2009, HUD issued Housing Notice 09-16 Exclusion from Annual Income of Temporary Employment from the U.S. Census Bureau excluding the temporary income received by residents from the U.S. Census Bureau.

On July 8, HUD released a memo regarding several rules on owners’ responsibilities towards residents when conducting inspections. The memo addresses the rules surrounding resident notification prior to entering a unit, documentation made available for the resident’s review, clarification on handling complaints and updated House Rules for assisted properties.

The Safe Housing for Families Act of 2019 (H.R. 1690) was passed by the House Financial Servcies Committee and will likely move to a full vote soon. The bill provides $300 million over 3 years to fund the installation and maintenance of carbon monoxide detectors in HUD assisted housing that have combusion fueled applicances. This […]

On July 1, the IRS issued a memo discussing the proper treatment of common area noncompliance indicating the eligible basis should be reduced for the taxable year in which it occurred rather than the applicable fraction.

The Save Affordable Housing Act of 2019 was introduced on June 25, 2019. The legislation was introduced by Sens. Ron Wyden (D-OR), Todd Young (R-IN), Ben Cardin (D-MD) and Sherrod Brown (D-OH) and includes a provision to eliminate the qualified contract option for future credit allocations. It also would retroactively amend the formula for existing […]

On June 5, HUD released the 2019 income limits for the HOME, CDBG, HOPWA, HTF and NSP programs. They are effective June 28, 2019.

On June 4, Senators Maria Cantwell (D-WA), Johnny Isakson (R-GA), Ron Wyden (D-OR) and Todd Young (R-IN) reintroduced the Affordable Housing Credit Improvement Act of 2019 (AHCIA). See article in the June 24, 2019 issue of The Compliance Monitor for a complete explanation of this important bill.

NCP Memberships expired on  December 31, 2019 but there is still time to renew for 2020!

On October 16 & 17, affordable housing professionals from all over the country descended Naples, FL to attend the 16th Annual National Compliance Professional Conference!

On September 17, 2019, HUD published a proposed rule regarding HOTMA or the Housing Opportunity Through Modernization Act of 2016 and are looking for comments by November 19, 2019. The proposed rule discusses how the HOTMA changes indicated in Section 102, 103 & 104 should be implemented.

HUD published the 2019 Income Limits on 4/24/19 with an effective date of 4/24. 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. This means this year’s limits must be implemented no later than June 8, 2019.

On February 27, the IRS indicated it would be publishing the Housing Credit program’s final utility allowance regulations specifically addressing submetering in the Federal Register.

On February 26, the IRS issued the final Compliance Monitoring regulations for the Housing Credit program. These replace the temporary compliance regulations that have been in place since 2016 and are immediately effective.

New York Gov. Andrew M. Cuomo signed into law the Gender Expression Non-Discrimination Act (GENDA), which prohibits employers, educational institutions, landlords, creditors, and others from discriminating against individuals on the basis of gender identity or expression, and make offenses committed on the basis of gender identity or expression hate crimes under New York State law.