Congress created the Low Income Housing Tax Credit (Housing Credit) in 1986 to encourage the construction and rehabilitation of affordable apartments by offering owners of such housing a credit against tax liability for 10 years. Advocating for support for the Housing Credit program is one of NCSHA’s 2011 Legislative Priorities. More...
Essential Housing Credit Information:
| 2011 NCSHA Housing Credit Factsheet | |
| Housing Credit Utilization Charts | |
Printer-friendly versionNCSHA Blog Posts
- May 14, 2012
On May 3, the IRS formally issued final regulations on Housing Credit qualified contracts providing guidance on taxpayer requests to Housing Credit agencies to obtain qualified contracts for acquisition of low-income buildings. The IRS adopted a number of NCSHA’s recommendations on the proposed rule and recognized the importance of maintaining flexibility for HFAs in administering the qualified contract process.
- May 11, 2012
Earlier today, Holly Glauser, Director of Development for the Pennsylvania Housing Finance Agency, participated in a Housing Credit briefing in Washington, DC for the staff of members of the House of Representatives. The event was coordinated by the co-chairs of the House Real Estate Caucus, Ways and Means Committee member Richard Neal (D-MA) and Congressman Michael Turner (R-OH), with help from NCSHA and other Housing Credit stakeholders.
Housing Headlines
- New York Times
- Affordable Housing Finance
- Internal Revenue Service
News
- April 27, 2012
On Wednesday, April 18, 2012, the WCDA Board of Directors approved the allocation of approximately $2.6 million in Section 42 Low Income Housing Tax Credits and $3.4 million in HOME Investment Partnerships Program funds to four Wyoming apartment projects which comprise 185 total units.
- March 26, 2012
MassHousing announced today that it has closed a $6.1 million loan for the acquisition, preservation and renovation of the 45-unit Lucerne Gardens in Dorchester.
Events
- January 9, 2011
The Institute's four program-specific conferences will strengthen your understanding of program fundamentals and explore advanced techniques for administering the Low Income Housing Tax Credit; the HOME Investment Partnerships program; Mortgage Revenue Bonds, Federal Housing Administration and rural housing mortgage insurance; and HUD's Performance-Based Section 8 Contract Administration initiative.
- January 10, 2010
The Institute's four program-specific conferences will strengthen your understanding of program fundamentals and explore advanced techniques for administering the Low Income Housing Tax Credit; the HOME Investment Partnerships program; Mortgage Revenue Bonds, Federal Housing Administration and rural housing mortgage insurance; and HUD's Performance-Based Section 8 Contract Administration initiative.
Housing Credits - Resources
- May 16, 2012
Final regulations on Housing Credit qualified contracts, providing guidance on taxpayer requests to a Housing Credit agency to obtain a qualified contract for acquisition of a low-income building. This guidance replaces proposed IRS regulations issued in June, 2007.
- May 10, 2012
NCSHA's 2007 comments to IRS on Housing Credit qualified contract provisions.
