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Federal Regulations & Notices

IRS Second Quarter Update of 2018-2019 Priority Guidance Plan

On April 5, the Department of the Treasury (Treasury) and Internal Revenue Service (IRS) issued their second quarter update to the 2018-2019 Priority Guidance Plan (PGP) which sets forth guidance priorities for the Treasury and the IRS based on public input and deregulatory policies.

IRS Publishes Revenue Procedure 2019-17 Regarding General Public Use Requirements for Multifamily Housing Bonds

On April 3, the Internal Revenue Service (IRS) issued Revenue Procedure 2019-17, which provides guidance regarding the general public use requirements for qualified residential rental projects financed with tax-exempt bonds.

IRS Publishes Resident Population Figures to Calculate 2019 Low Income Housing Tax Credit and Private Activity Bonds

On March 18, the Internal Revenue Service (IRS) released Notice 2019-19, which provides the population figures to use for calculating states' 2019 calendar-year volume limits for the Low-Income Housing Tax Credit (Housing Credit) and Private Activity Bonds (PABs). The Housing Credit figure for each state is the greater of the population multiplied by $2.75625 or $3,166,875. The PAB cap is the greater of the population multiplied by $105 or $316,745,000.

IRS Publishes Final Housing Credit Utility Allowance Submetering Rule

The Internal Revenue Service (IRS) published final regulations amending the Housing Credit utility allowance rules to make permanent the previously existing submetering rules, which had been in place on a temporary basis since March of 2016.

IRS Publishes Amendments to the Low-Income Housing Credit Compliance-Monitoring Regulations

The Internal Revenue Service (IRS) published in the Federal Register final regulations that amend the compliance monitoring regulations concerning the low-income housing credit under section 42 of the Internal Revenue Code.

HUD Office of Multifamily Housing Programs Mortgagee Letter

HUD’s Office of Multifamily Housing Programs published a Housing Notice and related Mortgagee Letter today that expand the use of the Low-Income Housing Tax Credit (LIHTC) pilot program into New Construction and Substantial Rehabilitation loan products under Sections 221(d)(4) and 220.

HUD Office of Multifamily Housing Programs Housing Notice

HUD’s Office of Multifamily Housing Programs published a Housing Notice and related Mortgagee Letter today that expand the use of the Low-Income Housing Tax Credit (LIHTC) pilot program into New Construction and Substantial Rehabilitation loan products under Sections 221(d)(4) and 220.

HUD Published a Notice Soliciting Public Comment on Tenant Data Collection for Housing Credit Properties

On February 11, HUD published a Notice solicitating public comment on the tenant data collection process that  Housing Credit agencies undertake to collect information on households living in Housing Credit properties

Memo on FY18 Shutdown Multifamily Production and Asset Management

On January 4, Lamar Seats, Deputy Assistant Secretary, Office of Multifamily Housing Programs for the U.S. Department of Housing and Urban Development, published a memo regarding FHA Multifamily Lenders regarding the impacts of the government shutdown on Multifamily FHA mortgage insurance applications and other production activities.