Affordable Housing News & Views - September 2018
Housing Expansion? The Middle-Income Housing Tax Credit (MIHTC) Proposal ExplainedIntroduced by Sen. Ron Wyden (D-OR), the Middle-Income Housing Tax Credit is based off an already existing and highly functioning model: the Low-Income Housing Tax Credit. Meant to help ease the ever-increasing housing burden in the U.S., the MIHTC is aimed at alleviating housing costs for those middle-income renters. Listen in on Bob Moss, CohnReznick’s national director of legislative affairs, and Beth Mullen, leader of CohnReznick’s Affordable Housing Practice, as they discuss how the MIHTC would work, what construction projects would qualify, how it would impact the tax code, how renters would qualify and other aspects.
Stakeholder Perspectives: Beth Mullen Joins NH&RA’s Webinar on Income Averaging
Hosted by the National Housing & Rehabilitation Association, a panel of experts discusses, “Income Averaging Set-Aside for LIHTC Projects: Stakeholder Perspectives Across the Tax Credit Industry.” Joining CohnReznick’s practice leader for affordable housing, Beth Mullen, include guests from NH&RA, Costello Compliance, Pennrose Properties and Red Stone Equity Partners. Topics of discussion for this Sept. 20 webinar include the math behind income averaging, revised Form 8609, Section 42 compliance challenges and other insights.
Two In Review: State Implications of Federal Tax Reform and Clarity on 199A
Two areas of note, 199A and state tax implications of the Tax Cuts and Jobs Act, become more understood through recent analysis and an upcoming webinar:
- STATE TAXES: The implications to a state’s tax base, and how each state’s legislature and taxing authority will respond should not be overlooked. With this aspect very much a work in progress, CohnReznick experts breakdown what is known and a look ahead. Learn more here.
- 199A: The newly enacted Section 199A will affect millions of taxpayers, and provides a deduction of up to 20 percent of income from many domestic businesses as well as many other opportunities that eligible taxpayers should consider. Find out more here during this Sept. 17 webinar.
Around the Community
We will be attending and/or speaking at these events. We hope to see you!
Virginia Housing Alliance's Housing Credit Conference – Sept. 18-19
PAHRA Annual Conference – Sept. 23-26
Housing Washington 2018– Oct. 2-4
Housing Colorado NOW! Annual Conference – Oct. 3-5
Opportunity Finance Network Conference 2018 – Oct. 8-11
CohnReznick’s Annual New York Real Estate Cocktail Reception – Oct. 9
NCSHA’s Annual Conference and Showplace– Oct. 13-16
Preservation North Carolina Annual Conference – Oct. 17-19
National Leased Housing Association Fall Seminar – Oct. 18-19
Homes Within Reach 14th Annual Conference (Pennsylvania)– Oct. 29-31
In Case You Missed It
News stories and headlines from the previous monthTwo Senators Are Proposing National Rent Relief Bills. Here’s Why It Matters (Curbed)
Freddie Mac Has a New Plan to Cap Rent Increases (Wall Street Journal)
Senator Proposes Middle-Income Housing Tax Credit (HousingFinance.com)
Climate Change Is Creating An Affordable Housing Crisis In Miami (HuffingtonPost.com)
Affordable housing solutions needed now, before it becomes a crisis, Big Table participants say (Columbus Business Journal)
Bronx, East Harlem and Long Island Affordable Housing Receives $35 Million (GlobeSt.com)
Charlotte developer to donate land for affordable housing (Triad Business Journal)
Mayor Signs Off On Plan To Double City’s Affordable Housing Fund (CBS-Denver Channel 4)
Minneapolis mayor Jacob Frey puts money behind affordable housing plan (StarTribune.com)
Sky-High Construction Costs Hit SF Affordable Housing Developers Hard (CBS-Bay Area Channel 5)
Affordable housing crisis: To conserve or to create? (Austin Monitor)
This has been prepared for information purposes and general guidance only and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick LLP, its members, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.