NEW 13TH EDITION OF HOUSING TAX CREDITS BOOK PROVIDES COMPREHENSIVE UPDATED GUIDANCE TO THE NATION’S LARGEST AFFORDABLE HOUSING PRODUCTION PROGRAM

"TAX CREDITS FOR LOW INCOME HOUSING: Opportunities for Developers, Non-Profits, Agencies and Communities Under Expanded Tax Code Provisions", by Joseph Guggenheim.

13th EDITION ­ 20TH ANNIVERSARY EDITION, December 2006.
442 pages, 54 appendixes, 24 tables.

The new Thirteenth Edition of the popular guidebook to the low income housing tax credit program is now available for purchase. It includes full descriptions of the many policy and program changes — guidance, rulings, and issuances — that occurred during the 42 months since the Twelfth Edition was published, as well as clarification and elaboration of numerous other subjects.

The 20th Anniversary Edition celebrates the 20 years since the housing tax credit program was enacted into law and since the first edition of the guidebook appeared in December 1986.

The LOOSE-LEAF VERSION includes e-mail updates that will provide a full explanation of all of the relevant changes in the program --- as well as valuable reports and information relating to the housing tax credit program that is publicly available.
Frequent E-mail updates thru 2008 with full explanations of changes in the program, and access to other available reports and information on housing tax credits. Get the explanations in an easily readable style, plus the text of all changes in the statute, the regulations, program rulings and policies, with the pages then inserted into the text of the book at the correct spot for future reference.

More than 20,000 copies of the book have been sold in the earlier editions, probably making it the most widely used book in the history of the U.S. affordable housing industry.

The author points out how the total dollars delivered for affordable housing from low income housing tax credits has more than doubled from 2000 to 2006, as a result of the higher per capita dollar amounts, population increases, and the improved pricing for tax credits that investors have been willing to pay. This does not include the additional housing tax credits made available in 2006 for the Gulf disaster areas, which is about 20 percent more on top of the total national per capita allocations.

• Other important changes described in the 13th Edition include:
  new IRS guidelines for qualifying for 501(c)3 non-profit status which improve the position of non-profits in tax credit partnerships;
• greatly expanded per capita tax credits, enhanced depreciation, 30 percent area bonus, and other tax incentives and dollars for Gulf areas harshly impacted by Hurricanes Katrina, Rita, and Wilma in 2005;
• expanded ability to use tax credits with Sec. 202 elderly and Sec. 811 handicapped non-profit developments;
• new industry standards for conducting market studies and for credit agency administration of tax credits;
• new program to leverage HUD capital fund financing support for public housing with housing tax credits;
• new rulings that allow developers to avoid the loss of one-third of the value of state tax credits for affordable housing in 9 of 11 state programs (and for some state historic rehabilitation tax credit programs as well);