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Kevin Brady (R-TX), Chairman of the House Ways and Means Committee released a year-end tax and oversight package that clarifies the general public use requirement for Housing Credit properties funded with tax-exempt bonds especially for veterans. … [Read more...] about New Legislation Includes LIHTC Clarification and Extenders

On November 15, 2018, the IRS published Revenue Procedure 2018-57 providing the 2019 per capita and small state minimum volume caps for the Housing Credit program and Private Activity Bonds (PAB). … [Read more...] about IRS Publishes 2019 Credit and Bond Cap Figures

On November 19, 2018, the IRS published Revenue Procedure 2018-55 announcing the amounts of unused credit carryover allocations to qualified states. This year there was $2.69 million of unused credits that were placed in the national pool and allocated to 32 qualified states and … [Read more...] about 2018 Pool of Unused Credits Published

On October 19, HUD released the list of difficult to develop areas (DDAs) and qualified census tracts (QCTs) for 2019. These areas are important to the Housing Credit Program as properties built in these areas are eligible for as much as a 30% boost in eligible basis while … [Read more...] about 2019 DDAs and QCTs Designated

On October 19, the Treasury Department released proposed guidance for opportunity zone (OZ) incentive. This is the first set of guidance expected and addresses gains invested in qualified OZ funds. At the same time, Treasury also released a related revenue ruling. … [Read more...] about Proposed Opportunity Guidance Released