A. J. Johnson Consulting Services, Inc.

Tax Credit

Understanding Medicare Advantage Flex Card Benefits in HUD Housing Income Determinations

February 16, 2025

In January 2025, the U.S. Department of Housing and Urban Development (HUD) clarified how Medicare Advantage (MA) supplemental benefits, particularly those administered through Flex Cards, should be treated when calculating income for HUD-assisted housing residents. This guidance helps housing providers…

Treasury Posts Support of HFA Disincentives for Qualified Contracts

December 19, 2024

In a December 12, 2024 post, the U.S. Department of Treasury expressed strong support for Housing Finance Agency (HFA) attempts to prevent or limit qualified contract requests for LIHTC projects. According to recent Harvard Joint Center for Housing Studies data,…

A. J. Johnson Partners with Mid-Atlantic AHMA for December Training on Affordable Housing – December 2024

November 12, 2024

During December 2024, A. J. Johnson will partner with the MidAtlantic Affordable Housing Management Association for two live webinar training sessions for real estate professionals, particularly those in the affordable multifamily housing field. Following the webinars, AJ will review testable…

IRS Announces Historic Increases for 2025 Tax Credit Multipliers and Small State Minimums

October 26, 2024

On October 22, 2024, in Revenue Procedure 2024-40, the Internal Revenue Service (IRS) revealed significant increases for key tax credit multipliers and minimum thresholds for 2025, setting historic highs in several areas. These changes impact the Low-Income Housing Tax Credit…

2025 Social Security COLA Announced

October 10, 2024

The federal government announced on October 10, 2024, that the Social Security Cost of Living Adjustment (COLA) for 2025 will be 2.5%, slightly lower than the 3.2% increase for 2024. This increase will provide an additional $50 per month for…

HUD Adds Income Exclusion for Veterans Disability for HUD-VASH Participants – IRS Adopts for LIHTC

September 28, 2024

The Department of Housing and Urban Development (HUD) published a Notice in the August 13, 2024, Federal Register announcing policy changes to the Veterans Affairs Supportive Housing (VASH) program to improve access for veterans experiencing homelessness. Homeless veterans often receive…

A. J. Johnson Releases the 2024 Edition of the Professional Property Manager’s Guide to the LIHTC

August 10, 2024

The 2024 Edition of A. J. Johnson’s “The Professional Property Manager’s Guide to the Low-Income Housing Tax Credit” has been released, offering a vital resource for professionals managing LIHTC properties. Originally a concise 19-page overview of the LIHTC program in…

A. J. Johnson Partners with Mid-Atlantic AHMA for Affordable Housing Training – May 2024

April 12, 2024

During May 2024, A. J. Johnson will partner with the Mid-Atlantic Affordable Housing Management Association for training sessions for real estate professionals, particularly those in the affordable multifamily housing field. The sessions will be presented via live webinars. The following…

HUD Publishes 2024 Income Limits

April 2, 2024

On April 1, 2024, HUD published the 2024 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, 2024. The limits for the LIHTC and…

HUD Expands List of Federally Mandated Income Exclusions

March 24, 2024

On January 31, 2024, the Department of Housing and Urban Development (HUD) published an updated list of income excluded for HUD-assisted housing programs. Since the Low-Income Housing Tax Credit Program (LIHTC) must follow HUD rules regarding income determination, these exclusions…

HUD HOTMA Rules Clarify and Change the Treatment of Assets

February 14, 2024

Introduction HUD Notice H 2013-10 expands upon the Final Rule for implementing the Housing Opportunity Through Modernization Act (HOTMA). This final rule makes some changes to the way managers of HUD-assisted housing will deal with assets on HUD-assisted properties. Since…

HUD Issues Clarifying HOTMA Guidance

February 11, 2024

Last week, the U.S. Department of Housing and Urban Development issued more detailed guidelines to assist in the enactment of the Housing Opportunity Through Modernization Act (HOTMA) of 2016. This Act aims to simplify procedures and lessen the responsibilities of…

Verification of Value and Determination of Income from Real Estate Investments

January 21, 2024

Virtually all affordable housing programs, including those using assistance from the Department of Housing & Urban Development (HUD) and the Rural Housing Service (RHS), as well as Low-Income Housing Tax Credit (LIHTC) projects, must determine actual or potential income from…

HUD NSPIRE Standards Include “Affirmative” Requirements

January 20, 2024

HUD’s new housing inspection process provides a single inspection standard for all units under the Public Housing, Housing Choice Voucher, Multifamily, and Community Planning & Development (CPD) housing programs. The National Standards for the Physical Inspection of Real Estate (NSPIRE)…

HUD Provides Significant Clarification Regarding Income in HOTMA Final Rule

November 19, 2023

Introduction The U.S. Department of Housing and Urban Development (HUD) has released Notice H 2023-10, which expands upon the Final Rule for implementing the Housing Opportunity Through Modernization Act (HOTMA). This final rule provides clarification regarding how income is determined…

A. J. Johnson Partners with Mid-Atlantic AHMA for December Training on Affordable Housing

November 13, 2023

During the month of December 2023, A. J. Johnson will be partnering with the MidAtlantic Affordable Housing Management Association for two live webinar training sessions intended for real estate professionals, particularly those in the affordable multifamily housing field. Following the…

HOTMA Makes Important Changes to the Definition of a “Family”

November 12, 2023

Introduction The U.S. Department of Housing and Urban Development (HUD) has released Notice H 2013-10, which expands upon the Final Rule for implementing the Housing Opportunity Through Modernization Act (HOTMA). This final rule revises the definition of “family” to also…

A. J. Johnson to Host Live Webinar on LIHTC Acquisition/Rehab Issues

November 10, 2023

A. J. Johnson will be conducting a 1.5-hour webinar on December 20, 2023, on Critical Issues Relating to the Acquisition and rehabilitation of LIHTC properties. The Webinar will be held at 1:00 PM Eastern Time. This 1.5-hour session focuses on…

HOTMA Required Revisions to Tenant Selection Plans and EIV Policies and Procedures

November 4, 2023

On October 2, 2023, HUD published a list of Discretionary Policies the owners participating in HUD Multifamily Housing Programs must set in Tenant Selection Plans (TSPs) and EIV Policies and Procedures. These documents must be updated by March 31, 2024.…

HOTMA Adds New Income Exclusions

October 22, 2023

HOTMA Adds New Income Exclusions for Affordable Housing Projects Introduction In February 2023, the U.S. Department of Housing and Urban Development (HUD) published the Final Rule implementing the Housing Opportunity Through Modernization Act (HOTMA). Subsequently, on September 29, 2023, HUD…

HOTMA Makes Significant Changes to Asset Rules

October 15, 2023

Navigating Changes in Asset Rules under the HUD Final Rule Implementing HOTMA Introduction In February 2023, the U.S. Department of Housing and Urban Development (HUD) published the Final Rule implementing the Housing Opportunity Through Modernization Act (HOTMA). Subsequently, on September…

HUD Issues New HOTMA Implementation Guidance

October 2, 2023

On September 29, 2023, HUD published Housing Notice 2023-10, Implementation Guidance: Sections 102 and 104 of the Housing Opportunity Through Modernization Act of 2016. The Notice contains implementation guidance for everything but the Section 104 asset limitation. HUD will provide…

A. J. Johnson Partners with Mid-Atlantic AHMA for October Affordable Housing Training

September 12, 2023

During the month of October 2023, A. J. Johnson will be partnering with the Mid-Atlantic Affordable Housing Management Association for a Low-Income Housing Tax Credit (LIHTC) training intended for real estate professionals, particularly those in the affordable multifamily housing field.…

A. J. Johnson to Conduct Live Webinar on Average Income Minimum Set-Aside

July 10, 2023

A. J. Johnson will be conducting a webinar on August 10, 2023, on Requirements & Best Practices Relating to the Average Income Minimum Set-Aside for LIHTC properties. The Webinar will be held at 1:00 PM Eastern Time. The Average Income…

Bipartisan Bill with LIHTC Expansion Introduced in Congress

June 24, 2023

On May 11, 2023, the Affordable Housing Credit Improvement Act (AHCIA) was introduced in both the House and Senate by bipartisan groups of legislators. If passed, the legislation would finance an additional 1.94 million affordable rental units over a ten-year…

A. J. Johnson Partners with Mid-Atlantic AHMA for June Affordable Housing Training

May 9, 2023

During the month of June 2023, A. J. Johnson will be partnering with the MidAtlantic Affordable Housing Management Association for six training sessions intended for real estate professionals, particularly those in the affordable multifamily housing field. Four of the sessions…

CDFI Fund Receives Record Number of Applications for NMTC Program in 2022 Round

March 14, 2023

The CDFI Fund, a branch of the U.S. Department of the Treasury, has announced that it has received a record number of applications for the CY 2022 round of the New Markets Tax Credit (NMTC) Program. The program is designed…

HOTMA Final Rule – Limitation on Eligibility for Assistance Based on Assets

March 7, 2023

The Department of Housing & Urban Development (HUD) has released a Final Rule implementing the Housing Opportunity Through Modernization Act of 2016 (HOTMA). This final rule was published in the Federal Register on February 14, 2023. With the exception of…

HUD Announces Move to NSPIRE Protocol

February 4, 2023

The Department of Housing & Urban Development (HUD) has published a notice that effective April 1, 2023, HUD-assisted sites enrolled in HUD’s NSPIRE demonstration program will change from receiving “advisory” housing safety inspections to receiving “inspections or record.” NSPIRE stands…

HUD Releases Final Rule Implementing HOTMA

February 3, 2023

The Department of Housing & Urban Development (HUD) has released a Final Rule implementing the Housing Opportunity Through Modernization Act of 2016 (HOTMA). This final rule has not yet been published in the Federal Register. Publication in the Federal Register…

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