- October 18, 2018by Jennifer SchwartzSenate Finance Committee member Dean Heller (R-NV) introduced the Seniors Affordable Housing Tax Credit Act, S. 3580, which would establish a tax credit for owners of multifamily rental property who agree to rent to extremely low-income seniors.
- October 18, 2018by Jennifer SchwartzThis week, NCSHA submitted comments to HUD in response to the Department’s Advance Notice of Proposed Rulemaking (ANPR) on streamlining and enhancing its Affirmatively Furthering Fair Housing (AFFH) Final Rule.
- September 18, 2018by Jennifer SchwartzGAO Housing Credit Development Cost Study Illustrates State Efforts to Ensure Reasonable Costs and Recommends Additional Data CollectionToday, the U.S. Government Accountability Office (GAO) published its long-awaited report on Low Income Housing Tax Credit (Housing Credit) development costs, “Low-Income Housing Tax Credit: Improved Data and Oversight Would Strengthen Cost Assessment and Fraud Risk Management.”
- September 11, 2018by Jennifer SchwartzThe House Ways and Means Committee released a package of three bills, which together are the House’s follow-on to last year’s Tax Cuts and Jobs Act. The bills, collectively “Tax Reform 2.0,” would make permanent the tax cuts for individuals and small businesses that were established on a temporary basis in tax reform last year, encourage retirement savings, and support business innovation. The bills do not make any direct changes to affordable housing programs, such as the Low Income Housing Tax Credit or tax-exempt private activity Housing Bonds.
- September 7, 2018by Jennifer SchwartzNCSHA released new independent research by Abt Associates on Housing Credit development costs across the nation. NCSHA commissioned the study, Variation in Development Costs for LIHTC Projects, which finds that for properties placed in service between 2011 and 2016, the median total development cost (TDC) per unit, inclusive of soft costs and land costs, was $164,757 and the mean TDC per unit was $182,498, adjusted for construction cost inflation. The research is based on nationwide data from more than 2,500 Housing Credit properties containing more than 160,000 units, representing approximately 47 percent of all 9 percent units and 20 percent of all 4 percent bond-financed units placed in service over the time period studied.