On July 30, 2008, President Bush signed into law the Housing and Economic Recovery Act (HERA) of 2008.  This law includes the most significant changes to the low income housing tax credit and tax-exempt private activity bond programs in 20 years.

Click on the links below to read about the impact of this law on the LIHTC and tax-exempt bond programs.  For information regarding:

• Income limits in the LIHTC and tax-exempt bond programs, click on Income Limits.
  

• Compliance in the LIHTC program, click on LIHTC Compliance.
  

• Compliance in the tax-exempt bond program, click on Bond Compliance.
  

• Allocation and development in the LIHTC program, click on LIHTC Allocation.
  

• IRS Revenue Procedure 2008-79, which addresses the impact on the tax exempt bond program, click on IRS Revenue Procedure 2008-79.
  

• The Joint Taxation Committee Report on the Housing and Economic Recovery Act of 2008, click on Joint Taxation Committee Report.
  

Contact Liz at (800) 784 -1009.

Register for the Liz Bramlet Consulting list service by sending an email to housingnews@aweber.com and ask to be placed on the mailing list.

Go to the Liz Bramlet Consulting Training Center at www.lbctrainingcenter.com.

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