HUD Extends Effective Date for 2015 DDAs & QCTs Located in Disaster Areas

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On October 26th, HUD published a 2015 DDA & QCT extension in the Federal Register. 

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Housing Credit and Private Activity Bond Volume Caps Published for 2018

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On October 20, the IRS published Revenue Procedure 2017-58 indicating the 2018 inflation adjustments for various tax provisions, including the Housing Credit and the private-activity tax-exempt bond volume caps.

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IRS Publishes Unused Credit Carryovers

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On October 16, the IRS published Revenue Ruling 2017-54, which reflects how $2.75 million of unused credits were distributed among 32 qualified states.

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Social Security COLA Increase for 2018 Announced

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On October 13, 2017, the Social Security Administration announced that the nation’s nearly 66 million Social Security recipients will receive a 2% cost of living increase for 2018. This is up from last year, which saw a 0.3% increase. The increase will show up in regular Social Security checks in January and for Supplemental Security […]

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2018 DDAs & QCTs Published

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On September 11, HUD published its list of 2018 qualified census tracts (QCTs) and difficult development areas (DDAs). These areas are significant to the Housing Credit Program as they are eligible for as much as a 30% boost in eligible basis which can significantly increase the credit allocation award.

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HUD Issues 2018 FMRs

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On September 1, HUD published in the Federal Register a notice announcing the 2018 fair market rents (FMRs).

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Help for Texas Hurricane Victims:

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On August 28, 2017, the IRS announced that victims in the 18 Texas counties affected by Hurricane Harvey will have certain protections afforded them.

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HUD Increasing RAD Unit Cap

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HUD issued a notice in the Federal Register on August 23, 2017 regarding the RAD program unit cap.

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TRACS User Recertification Notification

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On 8/23/17, HUD issued RHIIP Listserv 391 introducing a mandatory requirement to certify TRACS & TRACS Coordinators. 

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New HUD Assistant FHEO Secretary Sworn In

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On August 10, 2017, Anna Maria Farías was sworn in as HUD’s new Assistant Secretary for Fair Housing and Equal Opportunity (FHEO).

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HUD Publishes Worst Case Housing Needs Report

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In early August, HUD released its biannual Worst Case Housing Needs report to Congress. The report indicates the number of very poor unsubsidized households struggling to pay their monthly rent and who may also be living in substandard housing increased between 2013 and 2015.

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Bill Introduced to Give Non-Smoking LIHTC Buildings Preference

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On July 31, 2017, Rep. Vicky Hartzler (R-MO) introduced legislation – The Smoke Free Affordable Housing Act (H.R. 3322). 

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New Section 8 Renewal Policy Guide Issued

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On June 30, 2017, HUD issued the new Section 8 Renewal Policy Guide.  

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New VAWA Notice Released

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On June 30th, HUD released HSG Notice 17-05 providing clear implementation instructions of the VAWA Final Rule released in November 2016. 

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Hazlett to Head RD

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On June 12th, Sonny Perdue, U.S. Secretary of Agriculture announced Anne Hazlett will lead the Rural Development agencies. Hazlett’s title will be assistant to the secretary for Rural Development, a new position created as part of the reorganization of USDA.

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2017 HOME Limits Released

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On June 3, HUD released the FY 2017 Rent and Income Limits for the HOME and Housing Trust Fund (HTF) programs. These limits are effective June 15, 2017.

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Novogradac Income & Rent Calculator Updated

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Novogradac & Company has announced its Rent & Income Limit Calculator has been updated in a beta version to include the 2017 income limits.

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Congress Passes Spending Bill

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On May 3 and 4th, both the House and Senate respectively, passed the FY 2017 omnibus spending bill funding HUD and other governmental agencies for the remainder of the 2017 fiscal year which ends September 30th. President Trump signed the bill on Friday.

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2017 Income Limits Released

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Today the 2017 Income Limits were published with a April 14, 2017 effective date. As per Revenue Ruling 94-57, income limits must be implemented on the effective date or 45 days from the published date, whichever is later, which means this year’s limits must be implemented no later than May 28, 2017.

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GAO Report Examines Role of Syndicators

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On March 1, the Government Accountability Office (GAO) released its 3rd report in a series of 4 on the Housing Credit Program, this time focusing on the role of syndicators, the factors that influence their use and the characteristics of active syndicators in the Housing Credit market. The report indicates that of the 36 syndicators […]

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Cabinet Posts Filled

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On March 2, the Senate confirmed Dr. Ben Carson to serve as the Secretary of Housing and Urban Development. Carson has spoken positively about the Housing Credit Program emphasizing the strong connection between housing and health. Earlier this month, the Senate also confirmed Steve Mnuchin to serve as Secretary of the Treasury and was sworn […]

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2017 Population Estimates Released

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On February 27, the IRS published Notice 2017-19 which lists the 2017 population figures. These figures are used to determine the Housing Credit program’s tax credit ceiling and the Bond program’s tax-exempt private activity bond caps. This year, each state’s tax credit ceiling is the greater of $2.35 multiplied by the population or $2.71 million […]

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2017 Poverty Guidelines Published

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On January 31, the Department of Health and Human Services (HHS) published the 2017 poverty guidelines in the Federal Register (82 FR 8831) for the 48 contiguous states, the District of Columbia, Alaska and Hawaii. The figures were made effective January 26. These figures are used by HUD to determine the  Extremely Low-Income (ELI) limits […]

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2016 Income Limits Released

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Updated 4/6/2016… Released 3/28/2016 2016 Income Limits Released HUD released the 2016 Income Limits with an effective date of March 28, 2016. Some confusion exists due to the omission of the Determination of Maximum Income Limit charts for each area. CLICK HERE to learn how to properly implement the limits on your property.

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