- January 31, 2012
One of the first items Congress intends to accomplish in 2012 is extending the payroll tax holiday and forging agreement on a number of other expiring tax provisions. NCSHA and other industry stakeholders continue to advocate for an extension of the 9 percent minimum Housing Credit rate as part of tax extenders legislation. Beyond extending individual tax provisions, in the months ahead, the tax-writing committees are expected to continue holding hearings on comprehensive tax reform. - January 31, 2012The Irene and Lee Tax Relief Storm Recovery Act was introduced earlier this month to increase the Housing Credit ceiling for states impacted by Hurricane Irene or Tropical Storm Lee, namely, Connecticut, Delaware, the District of Columbia, Louisiana, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Puerto Rico, Rhode Island, Vermont, and Virginia.
- January 23, 2012
In comments submitted January 17, NCSHA expressed the organization’s commitment to helping HFAs administer programs in a nondiscriminatory manner to create greater housing choice and opportunity but asked HUD to postpone making changes in its fair housing regulations until the U.S. Supreme Court decides a key fair housing case it is scheduled to consider this February. - January 17, 2012
As always, the conference garnered strong participation from federal agency officials including representatives from the Treasury, HUD, Agriculture, and Justice departments and the Government Accountability Office. IRS officials previewed forthcoming regulatory guidance, including final regulations on qualified contracts. They also announced plans to revise the 20-year old Housing Credit compliance regulations, update the Audit Techniques Guide, and provide additional guidance on Housing Credit recapture, utility allowances, and properties impacted by natural disasters. - January 13, 2012
This week, top IRS officials, industry experts, and HFA staff are gathered in Washington to share information and the latest news regarding the Low Income Housing Tax Credit. - January 6, 2012On December 23, 2011, the IRS released Notice 2012-3. The Notice provides guidance on the circumstances under which issuers may refund GO Zone, Midwestern Disaster Area, and Hurricane Ike Disaster Bonds.
- January 3, 2012
NCSHA’s HFA Institute is only one week away! Before you head to Washington, be sure to review our online reference guides to refresh yourself on the latest information regarding HOME, Housing Credit, MRBs, and Section 8 program administration. The reference guides include links to IRS notices and guidance, HUD handbooks and mortgagee letters, proposed and final rules, and other helpful documents. - December 15, 2011
Yesterday, House and Senate tax and housing leaders introduced legislation advocated by NCSHA to make permanent the temporary 9 percent floor for volume cap Housing Credits and create a new 4 percent floor for volume cap Housing Credits used for acquisition. This legislation will eliminate the financial risk of the current floating rate system, simplify state administration, and create stability and predictability for owners and investors of Housing Credit developments. - December 9, 2011
This year's program will feature a discussion on NCSHA's new Recommended Practice on cost containment, which NCSHA's Board of Directors just approved December 5. In addition, allocating agency staff and industry stakeholders will discuss how states will be incorporating this and other NCSHA Recommended Practices into future QAPs. - December 2, 2011
Only the Institute uniquely features senior Administration officials discussing the latest administrative, regulatory, and legislative developments and top-notch training by nationally recognized experts combined with the knowledge and experience of program administrators and their partners from across the country.
