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IRS Final Regulation on LIHTC Compliance Monitoring

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A. J. Johnson
On Tuesday, February 26, 2019, the IRS will publish in the Federal Register a final regulation on how state Housing Finance Agencies (HFAs) must monitor low-income housing tax credit (LIHTC) properties for compliance with the requirements of Section 42 of…

Affordable Senior Housing – Demand Exceeds Supply

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A. J. Johnson
The Harvard Joint Center for Housing Studies recently published Housing America’s Older Adults 2018. A highlight of the report is that over half of U.S. households are now headed by someone age 50 or older. This indicates that the living…

Final GAO Report on LIHTC Program – September 18, 2018

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A. J. Johnson
On September 18, 2018, the Government Accountability Office (GAO) issued its fourth and final report on the Low-Income Housing Tax Credit (LIHTC) program. This report is titled “Improved Data and Oversight Would Strengthen Cost Assessment and Fraud Risk Management.” The…

Opportunity Zones Present New Development Opportunities

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A. J. Johnson
The Tax Cuts & Jobs Act of 2017 created something called “Opportunity Zones.” This is a brand new section of the federal tax code. An Opportunity Zone or “OZ” is an economically-distressed community where new investments may be eligible for…

Owner-Adopted Preferences in the RAD Program

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A. J. Johnson
On June 29, 2018, HUD published a list of allowable owner-adopted preferences for RAD properties, including direction for owners wanting to establish an owner-adopted elderly preference. The guidance highlights current HUD policy located in the RAD Notice (PIH 2012-32[HA] H-2017-03,…

Emotional Support Animals – How “Necessary” Are They?

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A. J. Johnson
Every apartment manager is familiar with “Emotional Support Animals,” or “ESAs.” I would venture to say there are very few multi-family communities in existence today that don’t have at least one resident with an ESA. And my experience has shown…

HUD Proposed Legislation on Assisted Rents and Other Issues

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A. J. Johnson
On April 25, 2018, HUD sent a legislative proposal to Congress titled, “Making Affordable Housing Work Act of 2018.” The proposed legislation contains seven sections that, if passed into law by Congress and signed by the President, would significantly impact…

NCSHA Publishes 2017 Recommended Best Practices

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A. J. Johnson
The National Council of State Housing Agencies (NCSHA) has updated its Recommended Practices in Housing Credit Administration for voluntary adoption by Housing Credit Agencies. The organizations first recommended practices were published in 1993, and included recommendations relative to allocation and…

HUD Delays Fair Housing Affirmative Action Rule

person
A. J. Johnson
In what is almost certainly the first step in elimination of the requirement that localities take proactive steps to affirmatively further fair housing, HUD is extending the deadline for submission of assessment of fair housing for Consolidated Plan Participants. This…

Minimum Wage Increases in 18 States

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A. J. Johnson
Happy New Year! For workers in a number of states, the new year will bring an increase in minimum wages. Many of the states already had minimum wage levels higher than the federal minimum of $7.25 per hour   Owners…

Comparison of House and Senate Tax Bills

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A. J. Johnson
On November 9, the Senate Finance Committee released its tax plan, following the House Ways and Means Committee plan last week. Since I sent a memo on the House plan last week, I will only note the differences between the…

Tax Cuts and Jobs Act – H.R 1

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A. J. Johnson
On November 2, 2017, the House Ways & Means Committee released H.R.1, “The Tax Cuts & Jobs Act.” The 429-page bill includes five sections: Tax Reform for Individuals; Repeal of the Alternative Minimum Tax (AMT); Business Tax Reform; Taxation of…

Tax Reform Update – October 22, 2017

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A. J. Johnson
Last Thursday, October 19, Congressional Republicans in the Senate approved a budget resolution for the 2018 fiscal year. This is the first in a long line of hurdles that must be overcome for there to be a tax bill this…

Tax Reform Overview – September 27, 2017

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A. J. Johnson
On September 27, 2017, the Trump Administration, the House Committee on Ways and Means, and the Senate Finance Committee released “Unified Framework for Fixing Our Broken Tax Code.” This nine-page proposal put out by the “big-six” represents the first significant…

Building a Case Against Unauthorized Occupants

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A. J. Johnson
Dealing with unauthorized occupants is a troublesome issue for many affordable housing managers, but due to the requirements of affordable housing programs such as Section 8 and the Low-Income Housing Tax Credit (LIHTC), knowing who is living in a unit…

Effect of White House Budget on HUD Programs

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A. J. Johnson
On May 23, 2017, the President released its 2018 Budget Proposal, which includes a 13% ($6.2 billion) cut in HUD funding. HUD’s largest single expense item, the Housing Choice Voucher, is maintained at its current level, but only be increasing…

Status of Tax Reform – April 2017

person
A. J. Johnson
For those of us who are heavily involved in the Low-Income Housing Tax Credit (LIHTC) Program, the future of tax reform is not just a casual interest. The survival of the Section 42 Program is by no means assured in…

HUD Publishes 2017 Income Limits

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A. J. Johnson
On April 14, 2017, HUD published the 2017 income limits for HUD programs as well as for the Low-Income Housing Tax Credit and Tax-Exempt Bond programs. The limits for the LIHTC and Bond projects are published separately from the limits…

Proposed Changes to LIHTC Program

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A. J. Johnson
On July 14, 2016, the “Affordable Housing Credit Improvement Act of 2016” was introduced in the Senate by Senators Cantwell, Hatch, and Wyden. It would make a number of changes to the Low-Income Housing Tax Credit (LIHTC) program, including (1)…

FY 2018 Presidential Budget Proposals for HUD

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A. J. Johnson
FY 2018 Presidential Budget Proposals for HUD   The new President has presented his preliminary budget numbers to Congress and if accepted as final numbers, many HUD programs will be devastated as the result of a $6 billion cut. Following…

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Guidance

The Professional Property Manager's Guide to the Low Income Housing Tax Credit

An easy to understand and in-depth guide written by a nationally recognized leader in affordable housing compliance, A. J. Johnson.


The Professional Property Manager's Guide to the Violence Against Women Act

Designed to provide professionals in the affordable housing industry with an easy to understand reference manual for issues related to VAWA.

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