Jan. 16, 2024: How HUD's Announcement on Income Limit Calculation Caps Could Impact Affordable Housing

The U.S. Department of Housing and Urban Development (HUD) published a notice in the Jan. 10 Federal Register establishing a 10% cap on income limit increases for housing financed by low-income housing tax credits (LIHTCs), private activity bonds (PABs) and various HUD programs, including Section 8. In this week's episode of the Novogradac Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Thomas Stagg, CPA, discuss how the cap has historically been calculated and how the notice clarifies the calculation of rent and income limits. Later, they discuss the possible effects of the decision as well as future dates to circle on the calendar.