NAHMA LIHTC Update: Low-Income Housing Tax Credit Rates for June 2020

From: Michal Machnowski 
Sent: Monday, May 18, 2020 2:49 PM
To: Michal Machnowski 
Cc: Larry Keys 
Subject: NAHMA LIHTC Update: Low-Income Housing Tax Credit Rates for June 2020

Dear NAHMA Members,

The Internal Revenue Service (IRS) recently issued Revenue Ruling 2020-12, which provides various prescribed rates for federal income tax purposes, including applicable federal interest rates, adjusted applicable federal interest rates, and adjusted long-term and tax-exempt rates for June 2020.

As provided in the ruling, Table 4 contains LIHTC Appropriate Percentages Under Section 42(b)(1) for June 2020:

  • Appropriate percentage for the 70% present value low-income housing credit: 7.16%

  • Appropriate percentage for the 30% present value low-income housing credit: 3.07%

Note: Under section 42(b)(2), the applicable percentage for non-federally subsidized new buildings placed in service after July 30, 2008, shall not be less than 9%.

To view the attached revenue ruling from the IRS online, please click here. 

Thanks,

Michal

Michal Machnowski
Manager of Government Affairs
National Affordable Housing Management Association
400 N. Columbus St., Suite 203
Alexandria, VA 22314
703-683-8630 (ext. 116)
703-683-8634 (fax)
mmachnowski@nahma.org

NAHMA is the leading voice for affordable housing management, advocating on behalf of multifamily property managers and owners whose mission is to provide quality affordable housing.

Renee Reithel