NCSHA Blog

  • July 24, 2015
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    The U.S. Government Accountability Office (GAO) yesterday released its report on federal oversight of the Low Income Housing Tax Credit program, which concludes that there are deficiencies in the Internal Revenue Service’s (IRS) oversight of the program and recommends that Congress consider designating HUD as a joint administrator of the program.

  • July 22, 2015
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    On July 21, the Senate Finance Committee approved legislation extending for two years various tax provisions that expired at the end of 2014, including the minimum 9 percent Housing Credit rate. The legislation also would establish for the first time a minimum 4 percent Credit rate for acquisition. The minimum rates would apply retroactively to the start of 2015 and prospectively for allocations made before January 1, 2017. The minimum 4 percent rate would not apply to bond-financed developments.

  • July 16, 2015
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    On July 16, HUD published the Affirmatively Furthering Fair Housing (AFFH) final rule in the Federal Register. HUD published the AFFH final rule on its website on July 8, but the rule’s official publication is the date on which it appears in the Federal Register. The rule replaces the current Analysis of Impediments requirement with a new Assessment of Fair Housing requirement for HUD participating jurisdictions.

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