NCSHA Urges IRS to Prioritize Housing Credit and Housing Bond Guidance in 2018–2019 Plan

~ Oklahoma Coalition for Affordable Housing

In response to IRS’ request for comments, NCSHA on June 15 sent a letter recommending various issues to prioritize in the Service’s 2018 – 2019 Priority Guidance Plan (PGP). The PGP identifies guidance projects IRS intends to work on during the period from July 1, 2018, to June 30, 2019. NCSHA’s recommendations for Housing Credit guidance included income averaging, compliance monitoring regulations, disaster relief, over-income tenants in resyndication of acquisition/rehabilitation developments, and casualty loss. We also recommended that IRS prioritize Housing Bond guidance related to record retention, public hearing requirements for bond issuance, the time period for relying on updated income limits for MRBs and MCCs, carryforward of bond authority for housing purposes, mortgage fees and interest rates for MRB loans, and investments under the special yield reduction rule.

Published by Oklahoma Coalition for Affordable Housing

The vision of OCAH: That all Oklahomans have the opportunity to live in safe, healthy and affordable homes. Our Mission: To lead the movement to ensure that all residents of the state of Oklahoma flourish in safe, affordable homes and to help communities develop safe and affordable housing options for all of their residents. We reach our mission through advocacy, education and practical training to foster the production and maintenance of affordable housing throughout the state.

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