Priorities of LIHTC Advocates Finally Reached
January 17, 2024WASHINGTON January 17th, 2024 - Two key provisions of the Affordable Housing Credit Improvement Act (AHCIA) have been included in a bipartisan tax agreement. After intense Congressional negotiations, the agreement calls for a temporary restoration of a 12.5% allocation increase to LIHTC as well as a temporary reduction of the 50% bond test to 30%
California Helps Preserve Affordability of More Than 600 Homes
July 12, 2023LOS ANGELES July 12th, 2023 - California is investing $159.9 million to keep 638 homes affordable for up to 55 more years rather than risk having them convert into market-rate units. The awards are part of the state’s Portfolio Reinvestment Program managed by the state Department of Housing and Community Development. The program looks to
South Carolina Bails Out of 2023 9% Round
June 21, 2023COLUMBIA June 21, 2023 – Governor McMaster signed a Joint Resolution (S. 739/R. 76) related to Federal Low Income Housing Tax Credits and State Tax Credits. Pursuant to the Joint Resolution, SC Housing is developing a plan to allocate remaining state tax credits and fifty percent of 9% federal tax credits for certain existing developments
LIHTC Changes Included in Federal Budget Proposal
March 22, 2023WASHINGTON March 22nd, 2023 - The White House budget proposal seeks a major increase to the low-income housing tax credit (LIHTC) program. The fiscal 2024 plan calls for a $28 billion expansion in LIHTCs over 10 years as well as lowering the 50% bond test to 25%. Under the Biden administration proposal, each state would
HUD Awards $3.16 Billion to Public Housing Authorities The funding will go toward modernizing public housing across the country. (WASHINGTON, DC February 22nd, 2023) The Department of Housing and Urban Development (HUD) announced $3.16 billion in funding to nearly 2,770 public housing authorities (PHAs) in all 50 states, the District of Columbia, Guam, Puerto Rico,
Support grows for the Neighborhood Homes Investment Act
December 15, 2022WASHINGTON December 15th, 2022 - 124 bipartisan US lawmakers have pledged support for the Neighborhood Homes Investment Act (NHIA), which would offer a tax incentive to developers to minimize their risk when building or rehabilitating existing housing. If passed, the legislation could lead to the development of 500,000 starter homes in struggling communities over the
U.S. GOVT Annouces Housing Supply Action Plan
May 16, 2022WASHINGTON, May 16 2022 – The United States Government announced a Housing Supply Action Plan to ease the burden of housing costs over time by boosting the supply of quality housing in every community. The plan includes both legislative and administrative actions to help close the nation’s housing supply shortfall in five years. Among other
South Carolina Stops 4% Allocations Following Huge Demand
January 31, 2022Columbia, SC - 29 Jan 2022 South Carolina saw massive demand for its 4% LIHTC Credit and announced at it has limited the ability of certain developments to access the state’s 4% low-income housing tax credit (LIHTC) incentive. The stop is temporary and halts the allocation of credits until the state enacts new legislation or
U.S. Senate Proposal to strengthen LIHTC
August 19, 2021New Tax Credit Programs Introduced: MIHTC & NHTC Aug. 19, 2021 (WASHINGTON) - Sweeping housing legislation announced today in the U.S. Senate would enhance the low-income housing tax credit (LIHTC) and introduced the middle-income housing tax credit (MIHTC) and neighborhood homes tax credit (NHTC).The “DASH Act” aka Decent, Affordable, Safe Housing for All would provide
Congress passed measures strengthening the creation of affordable housing
December 22, 2020Congress passed measures strengthening the creation of affordable housing. Highlights of the bill are as follows: Permanent 4% Housing Credit rate: This is a big victory for housing credit advocates, who have made setting a minimum 4% rate a top priority. The 4% rate will apply to allocations of 4% credits made after December 31st
We are an underwriting surety agency specializing in P&P and other bonds for LIHTC (4% & 9% and state-based programs), Market Rate developers [HUD 221 (d) (4), etc.,] and GCs. We effortlessly guide our clients through the otherwise difficult approval maze with an innate understanding of how the surety companies think, and exactly what is needed for bond approval. Headquartered in Charleston, South Carolina, we are licensed in 50 states and represent clients nationwide. LIHTC Bonds Ltd Co is an affiliate of Carolina Indemnity Group.
