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Many sites receive both tax-exempt bond financing and low-income housing tax credits. These sites are, therefore, subject to at least two regulatory agreements with different requirements. Be sure to obtain a copy of all regulatory agreements that may apply to your site.

President Obama recently signed a disaster declaration for areas of Oklahoma and Texas affected in May by severe storms, tornadoes, and floods. The IRS’s Revenue Procedures 2014-49 and 2014-50 provide guidance on temporary relief from certain requirements of Internal Revenue Code (IRC) Sections 42 and 142, respectively, in the context of a major disaster.

The White House recently selected Michael Stegman, a senior official in the U.S. Department of the Treasury, to be the main housing adviser on the National Economic Council (NEC). The NEC is part of the executive office of the president and advises him on domestic and global economic policies. As the housing adviser, he will be tasked to coordinate housing policy across the Obama administration to make sure programs and pol...

Recently, Missouri Treasurer Clint Zweifel urged the Missouri Housing Development Commission (MHDC) to use its LIHTC allocation to help combat affordable housing issues that are exacerbated among victims of domestic violence. In a letter, he cited a study stating that survivors of domestic violence were the third largest subpopulation of homeless individuals in Missouri.

Sens. Maria Cantwell (D-WA) and Pat Roberts (R-KS) recently introduced the “Improving the Low-Income Housing Tax Credit Rate Act” (S. 1193). This bill would create a permanent floor for the LIHTC. The bill’s text is identical to the House bill that was introduced on Feb. 26 by Reps. Pat Tiberi (R-OH) and Richard Neal (D-Mass.).

HUD recently released the full version of its Worst Case Housing Needs: 2015 Report to Congress following the release of its summary findings in early February. HUD defines “worst case housing needs” as renters with very low incomes (below 50 percent of area median income) who don’t receive government housing assistance and who either spend more than half of their income on rent, live in severely inadequat...

For owners and managers of LIHTC sites with HOME units, HUD has recently published the HOME Income and rent limits for 2015. The limits go into effect on June 1, 2015.

Congressman Keith Ellison (D-MN) recently introduced H.R. 1662, Common Sense Housing Investment Act of 2015. The proposed bill would replace the mortgage interest deduction with a 15 percent flat rate tax credit on interest paid on mortgages up to $500,000. The tax credit would be available to all homeowners, regardless of whether they claim the standard deduction or itemize their tax deductions.

Two researchers from the University of Kansas’ Department of Urban Planning recently completed a study on the locations of assisted housing units and assisted households across the nation. It examines one of the key issues that drive the design of federal low-income housing programs, which is how well federal rental assistance helps people move out of impoverished neighborhoods into safer places with access to better ...

HUD recently proposed a new rule to implement the Violence Against Women Reauthorization Act of 2013 for nearly all those who reside in HUD-assisted housing. An earlier, 2005 version of the legislation covered only public housing and Section 8 residents.