IRS Revenue Ruling 2021-20 provides guidance regarding whether the 4 percent applicable percentage (4 percent floor) under § 42(b)(3) of the Internal Revenue Code applies to the low-income buildings described in the revenue ruling. View Document […]
Read More… from IRS Revenue Ruling 2021-20: 4 Percent Floor Application to Housing Credit Buildings
This downloadable Excel workbook shows Emergency Rental Assistance (ERA1 and ERA2) dollars paid and number of households assisted by state and local grantees over the reporting periods of January 1 – March 31, April 1 – April 30, May 1 – May 31, June 1 – June 30, July 1 – July 31, August 1 […]
These letters from NCSHA and other Housing Credit stakeholders to House Speaker Nancy Pelosi, House Ways and Means Committee Chair Richard Neal, Senate Majority Leader Charles Schumer, and Senate Finance Committee Chairman Ron Wyden express support for provisions in reconciliation legislation to close the qualified contract loophole and mitigate investor challenges to nonprofit developers seeking […]
This summary provides details from the “Neighborhood Homes Investment Act,” text of which was included in the Build Back Better Act that passed the House of Representatives on November 19, 2021. View Document Originally published on November 22. NCSHA will update this summary as events warrant. […]
Read More… from NCSHA Summary of the Neighborhood Homes Investment Act
This November 19, 2021, letter sent by NCSHA and fellow steering committee members of the Campaign for Housing and Community Development Funding (CHCDF) urges Congress to enact fiscal year 2022 appropriations bills as soon as possible and outlines the devastating impacts on affordable housing and community development programs when multiple, or lengthy, continuing resolutions are […]
This document provides background on the Housing Credit qualified contract option and how this loophole in the law enables some owners to take properties out of the programs after just 15 years, rather than adhering to the otherwise statutorily required 30 years or more of affordability. View Document […]
This is a list of commonly used housing acronyms, compiled by NCSHA. Last updated November 2021 View Document […]
This letter, sent by NCSHA to the Treasury Department on November 16, 2021, urges Treasury to provide a blanket extension for Emergency Rental Assistance quarterly reports until such time as the department is able to streamline quarterly reporting requirements, provide grantees with technical assistance on reporting, and fix technical problems in Treasury’s ERA reporting portal. […]
Read More… from NCSHA Letter to Treasury on Quarterly Reporting
Internal Revenue Service Revenue Procedure 2021-45 provides the 2022 per capita and small-state minimum levels for the Low Income Housing Tax Credit (Housing Credit) and Private Activity Bonds (PABs). In 2022, states will receive the greater of $2.60 per capita or $2,975,000 in Housing Credit authority and the greater of $110 per capita or $335,115,000 […]
Read More… from IRS Revenue Procedure 2021-45: 2022 Housing Credit and Housing Bond Volume Caps
