As previously reported, the House Committee on Ways and Means is currently considering ways to reform the Internal Revenue Code. As part of this effort, the Committee has created 11 tax reform working groups which will each review specific portions of the Tax Code. The Working Groups provided an opportunity for the general public to [...]
On April 10, 2013, President Obama released his FY2014 budget which included five provisions related to the Low Income Housing Tax Credit (Housing Credit) program. Specifically, the budget provisions included are: States would be empowered to convert some private-activity-bond volume cap into authority to allocate additional Housing Credits. This proposal would give each State more [...]
With tax reform efforts heating up on Capitol Hill, the Affordable Housing Tax Credit Coalition and the A Call To Invest in Our Neighborhoods (A.C.T.I.O.N.) Campaign have engaged media consultants Group Gordon to coordinate a strategy aimed at garnering positive media attention for the Low Income Housing Tax Credit (Housing Credit) program. Raising the national [...]
On February 25, 2013 the Bipartisan Policy Center published a new report entitled Housing America’s Future: New Directions for National Policy.
On March 14, 2013, the FASB Emerging Task Force (EITF) voted to propose new guidance regarding accounting treatment for Low Income Housing Tax Credit investments – specifically criteria under which Housing Credit investments would be allowed to use the effective yield accounting method.
The 2013 AHTCC Board of Directors was elected by the general membership at AHTCC’s Annual Meeting on January 30, 2013. AHTCC congratulates all new and returning Board members and is looking forward to another successful year advocating on behalf of the Low Income Housing Tax Credit program.
AHTCC Members CohnReznick LLP and Novogradac & Company LLP have prepared the below linked white paper on the effective yield accounting method as it relates to LIHTC developments. AHTCC has endorsed their efforts and will be working with interested groups on this issue. Executive Summary (excerpt) Investments in low income housing tax credits (LIHTC), known as [...]
Late Tuesday night, the House passed the previously Senate-passed bill designed to avert the fiscal cliff and put off drastic automatic spending cuts.
In passing the Housing and Economic Recovery Act of 2008 (HERA), Congress asked the Government Accountability Office (GAO), the audit, evaluation and investigative arm of Congress, to analyze and report to Congress on the changes made by HERA by the end of 2012. On December 6, 2012, GAO released that report and it is publicly [...]
In November, The Furman Center for Real Estate & Urban Policy published a paper entitled “Do Federally Assisted Households Have Access to High Performing Schools?” looking at the elementary schools located nearest to families receiving four types of housing assistance. Included in the study are project-based Section 8 properties, Public Housing, and Housing Choice Voucher recipients as [...]