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Biden Housing Plan Stresses Housing as Infrastructure

On May 26, the Biden Administration released its full plans for a surge in new housing spending as part of the American Jobs Plan. The proposal would invest $318 billion, including $105 billion in newly proposed tax credits. The goal…

HUD Secretary Announces Increase in REAC Inspections

On April 23, 2021, HUD Secretary Marcia Fudge announced that effective June 1, 2021, HUD will substantially increase housing inspections for properties subject to REAC. Within a few days – as early as this week – HUD will formally notify…

A. J. Johnson to Host Asset Webinar

A. J. Johnson will be conducting a webinar on April 29, 2021 on Dealing with Resident Assets at Affordable Housing Properties. The Webinar will be held from 1:00 PM to 3:00 PM Eastern time. This two-hour course provides a detailed…

HUD Publishes 2021 Income Limits

On April 1, 2021, HUD published the 2021 income limits for HUD programs as well as for the Low-Income Housing Tax Credit and Tax-Exempt Bond programs. The limits are effective on April 1, 2021.  The limits for the LIHTC and…

New York Passes Comprehensive Anti-Eviction Law

The New York State Legislature convened an unusual special session just after Christmas to pass one of the nation’s most comprehensive anti-eviction laws, which will ban landlords from evicting most tenants for at least another 60 days. Some studies show…

IRS Notice of Proposed Rulemaking on Average Income Test

On October 30, the IRS published a Notice of Proposed Rulemaking in the Federal Register. This Notice concerns the LIHTC Average Income Test and outlines the current intention of the IRS with regard to certain rules governing the Average Income…

Executive Order Does Not Extend Eviction Moratorium

I have received a number of questions from clients lately expressing confusion with regard to whether tenants in certain federally assisted properties are still protected from eviction due to non-payment of rent. The CARES Act moratorium on evictions for non-payment…

National Report on Affordable Housing Preservation Released

A Joint report of the National Low Income Housing Coalition (NLIHC) and the Public and Affordable Housing Research Corporation (PAHRC) on the affordable housing preservation situation and needs in the United States was released in late May. The report focuses…

Joe Biden Releases Housing Plan

Former Vice President and presumed Democratic Presidential candidate Joe Biden has released a comprehensive housing plan – much of which deals with affordable rental housing, including the Low-Income Housing Tax Credit program. Following are the major elements of the 81-page…

HUD Publishes 2020 Income Limits

On March 31, 2020, HUD published the 2020 income limits for HUD programs as well as for the Low-Income Housing Tax Credit and Tax-Exempt Bond programs. The limits are effective on April 1, 2020.  The limits for the LIHTC and…

New Overtime Rule Issued by the Department of Labor

On September 24, 2019, the U.S. Department of Labor (DOL) announced a final rule to make 1.3 million American workers eligible for overtime pay under the Fair Labor Standards Act (FLSA). This is the first change in the overtime regulations…
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