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The Social Security Administration recently announced that with consumer prices down over the past year, monthly Social Security and Supplemental Security Income (SSI) benefits for nearly 65 million Americans will not automatically increase in 2016.
Q:A resident who is hard of hearing recently moved into your site and asks you to install visual smoke detectors in her unit. Since all your units are equipped with conventional smoke detectors, you should grant her request. True or false?
The Congressional Budget Office (CBO) recently released a report discussing the ways in which the federal government provides housing assistance to low-income households. It examined how that assistance has changed since 2000, and provided information about the households that receive assistance. In addition, the report assessed policy options for altering that assistance.
HUD recently issued its proposed fair market rents, or FMRs, for fiscal year 2016. In general, the FMR for an area is an amount that would be needed to pay the rent and utilities of a privately owned, decent, and safe rental housing unit of a modest nature with suitable amenities. HUD is required to publish the FMRs at least annually to be effective on Oct. 1 of each year.
Members of Louisville’s Kentucky Legislature delegation are pushing for legislative hearings on why the city has gotten less funding through federal Low-Income Housing Tax Credits than other parts of the state.
The credits are distributed annually by the Kentucky Housing Corporation. Distribution of the credits is tracke...
According to charges recently filed in Miami federal court, two principals of the Miami-based Carlisle Development Group, once the state’s biggest developer of affordable housing, stole tens of millions of dollars in U.S. government subsidies by inflating construction costs and receiving kickbacks from contractors. According to prosecutors, they even set up shell companies to collect the illicit payments secretly.
A report from the Government Accountability Office (GAO) suggests that a joint administration between the IRS and HUD would benefit the LIHTC program. The report suggests that the IRS currently lacks appropriate resources to engage in more than minimal oversight of the program. It notes that, since 1986, the IRS has conducted seven audits of 56 state housing finance agencies (HFA) on which the IRS relies to administer and o...
The IRS recently released its 2015-2016 Priority Guidance Plan as well as a fourth-quarter update to the 2014-2015 guidance plan. Through this plan year, the IRS plans to address 277 projects. Compared to the prior version of the plan, the IRS has removed a few tax credit-related priorities. It removed the proposal to update Rev. Proc. 2007-54, which provides low-income housing tax credit relief in the case of a presidentia...
On July 21, the Senate Finance Committee held a mark-up of legislation to extend dozens of expired tax provisions, or “tax extenders.” The committee approved the Bill to Extend Certain Expired Tax Provisions, which would extend the minimum 9 percent Housing Credit rate for new construction and substantial rehabilitation, and establish a minimum 4 percent rate for the acquisition of affordable housing, for alloca...
Since the U.S. Supreme Court decided to uphold the disparate impact doctrine as a legal tool to fight discrimination in Texas Department of Housing and Community Affairs v.
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