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Payroll Tax Cut Extension Agreement Reached by Conference Committee, Congress Approves

On Feb. 17, Congress approved an extension of the payroll tax holiday, unemployment benefits and restored Medicare reimbursement rate provisions based on an agreement outlined in the conference committee’s Feb. 15 conference report (H.R. 3630). Unlike the previous extension passed in December ... read more...

FY 2012, 2013 Appropriations Update

  On Dec. 23, President Obama signed the Consolidated Appropriations Act of 2012 (Public Law Number: 112-74) into law, finalizing all fiscal year (FY) 2012 appropriations. The President delivered his State of the Union address on Jan. 24 and submitted to Congress his FY 2013 budget request on ... read more...

2012 Rent and Income Limit Calculator

Novogradac & Company LLP has released the final version of the Rent & Income Limit Calculator© featuring the U.S. Department of Housing and Urban Development’s (HUD) 2012 rent and income limit data. The Rent & Income Limit Calculator© can calculate IRC Section 42(i)(3)(A) ... read more...

Housing Credit Percentage Reverting Back to Floating Federal Rate

Many of you are already aware, the applicable housing credit percentage will revert back to the floating federal rate for tax credit developments that do not place in service by December 30, 2013. The Delaware State Housing Authority’s (DSHA’s) low income housing tax credit (LIHTC) ... read more...

Temporary Tax Bill Passes; Another Extension is Possible

The President approved extensions, on Dec. 23rd, of the payroll tax holiday and expanded unemployment insurance benefits through Feb. 29.   Upon return from the holiday recess, Congress plans to negotiate a full-year extension bill, and may consider extending expired tax provisions, including ... read more...

DDAs are Designated by HUD for 2012

The U.S. Department of Housing and Urban Development (HUD) designated difficult development areas (DDAs) for 2012 for purposes of the low-income housing tax credit (LIHTC) under Section 42 of the Internal Revenue Code (IRC). HUD makes new DDA designations annually. LIHTC projects in DDAs or ... read more...

ACS Survey on Poverty vs. Geographic Area

The American Community Survey (ACS) published data in December showing people living in poverty tend to be clustered in certain neighborhoods rather than evenly distributed across geographic areas. The ACS, which includes socioeconomic data on every community in the nation for the combined ... read more...

HUD Released Income Limits for 2012

The U.S. Department of Housing and Urban Development (HUD) has released income limits for 2012. Click here for links to the 2012 income limits and accompanying information and tables. Under the Housing and Economic Recovery Act of 2008 (Public Law 110-289), income limits used to determine ... read more...

$50 Million to Finance Affordable Housing Developments

UnitedHealth Group announced it has partnered with Enterprise Community Investment to provide as much as $50 million to finance affordable housing developments in targeted communities in New Mexico. Called the UnitedHealth Group Affordable Housing Investment Program, the partnership will invest ... read more...

Report Recommends Improvements to Federal Agencies’ Delivery of Affordable Housing

The White House Rental Policy Working Group released its administrative proposals for alignment of federal rental programs. The report outlines a proposition to reduce costs, improve program efficiency and effectiveness, and better serve low-income renter households through greater management ... read more...