The White House recently announced new actions to increase fairness in the rental market and further principles of fair housing. Notable actions announced include:
In November, U.S. Senators Angus King (I-Maine), Sherrod Brown (D-Ohio), and Rob Portman (R-Ohio) and Rep. Brad Wenstrup (R-Ohio) and Rep. Danny Davis (D-Ill.) from the House introduced “The Housing for Homeless Students Act of 2022” to help homeless students, veterans, and foster...
The IRS recently published the amounts of unused low-income housing tax credit carryovers for calendar year 2022. The carryover allocation is made up of LIHTCs that are not allocated by states but are added to a national pool and redistributed to qualified states that apply for the additional...
A recent report released by the National Council of State Housing Agencies (NCSHA) highlights the actions state housing finance agencies are going through in this period of increased labor, materials, and financing costs to ensure pending LIHTC projects can proceed as planned. The report is...
On Aug. 16, President Biden signed into law the new Inflation Reduction Act (IRA), which includes significant investments to address climate change in affordable housing. The law provides billions of dollars in funding through direct spending and tax credits that can be used to preserve...
In early August, the White House hosted a virtual summit on “Building Lasting Eviction Prevention Reform.” As funds for Emergency Rental Assistance (ERA) are beginning to wind down, the meeting focused on the need for an all-out effort to build lasting eviction prevention reform.
Q We manage a tax credit site that gets funding through the HOME program. A resident with disabilities recently asked us to install a ramp at the entrance to our site's community room so that he can access it using his wheelchair. We want...
Q My company has managed federally assisted sites and will soon start managing tax credit sites. Are there any special laws or guidelines we must follow when setting occupancy standards for our tax credit sites?
More than half of all states have measures aimed at protecting LIHTC sites from natural disasters, according to a new report from Freddie Mac. The research is part of Freddie Mac’s Duty to Serve plan, a regulatory mandate from the federal Housing Finance Agency to provide leadership and...
The U.S. Department of Treasury recently announced that it will allow state, local, and tribal governments more flexibility to use COVID-19 rescue funds to boost the supply of affordable housing, including permission to issue direct long-term project loans. The issued guidance permits State and...
Q An applicant has an ABLE account. He’s able to provide proof that it’s an ABLE account and document its balance. Both the applicant and his employer put money into the account. ABLE accounts aren’t mentioned in the HUD...
QThe last issue of the Insider seemed to indicate that a violation of state or local fair housing law may result in noncompliance reported with IRS Form 8823 (see “...
