IRS Issues Guidance on Minimum Tax Credit Percentage

By Caitlin Jones & A. J. Johnson
December 11, 2008 1 min read

New IRS Notice 2008-106 clarifies that the minimum 9% credit percentage for the low-income housing tax credit, available for non-federally subsidized buildings placed in service after 7/30/08 and before 12/31/13, is available even if a building owner made an election on or before 7/30/08 to lock in the credit percentage. This change was made by the recent Housing and Economic Recovery Act of 2008, but there had been uncertainty by some as to whether owners who had previously locked in their credit rate could take advantage of the new change.

(http://www.irs.gov/pub/irs-drop/n-08-106.pdf)

Breaking Ground

Jennifer Leimaile Ho, Minnesota Housing Commissioner and Incoming Chair of National Council of State Housing Agencies

Pamela Martineau • December 1, 2024 10 min read

Earlier this fall, Jennifer Leimaile Ho was elected chair of the National Council of State Housing Agencies’ (NCSHA) 2025 Board of Directors. Ho is the Commissioner of Minnesota Housing, having been appointed by Governor Tim Walz in January 2019 and reappointed in 2023.

“Business as Usual”

Leaders in Equity Express Optimism Despite an Uncertain Future

Abram Mamet • December 1, 2024 9 min read

Any outside observer may assume some unease amongst the low-income housing industry. Buffeted on the one hand by residual stressors from the COVID-19 pandemic and on the other by the uncertain prospects of an incoming federal administration keen on cutting spending and shrinking government programs, the affordable housing landscape is experiencing an inflection point.

NCSHA Recognizes Stand-Out Affordable Housing Programs and Initiatives

Pamela Martineau • December 1, 2024 7 min read

This fall, the National Council of State Housing Agencies (NCSHA) recognized 17 programs offered by state housing finance agencies across the nation that creatively developed tools to tackle their communities’ affordable housing challenges.