ACTION Update: IRS Issues Guidance on Application of Permanent, Minimum 4 Percent Rate

Yesterday, the Internal Revenue Service (IRS) issued Revenue Ruling 2021-20 and Revenue Procedure 2021-43 providing guidance on the application of the permanent minimum 4 percent Housing Credit rate established for bond-financed buildings in the Consolidated Appropriations Act of 2021.

Check out a recent blog post from ACTION Co-Chair Jennifer Schwartz, director of tax and advocacy at NCSHA, where she details the IRS Revenue Rule and Procedure, providing additional context on the implications for the application of the permanent, minimum 4 percent rate. Revenue Ruling 2021-20 & Revenue Procedure 21-43 will appear in Internal Revenue Bulletin 2021-51 on December 27, 2021.

REMINDER: ACTION Monthly Call on Friday

As we shared in our monthly newsletter yesterday, ACTION’s monthly call will take place on Friday, December 3, at 2 pm ET. We encourage our members and other Housing Credit advocates to join us to hear the latest on what’s happening in Congress and our current advocacy strategy.

We also welcome advocates to take this opportunity to share any important updates within your organization or other questions you may have with our ACTION Campaign network.

Join Zoom Meeting:

One tap mobile:

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Krista D'Alessandro is the tax policy analyst at Enterprise Community Partners. The ACTION Campaign is co-chaired by Enterprise and the National Council of State Housing Agencies.

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