HELENA, Mont. —
Legislators in Helena on Monday examined a troubling audit report that revealed deficiencies in the Montana Board of Housing’s process for granting an important tax credit.
The board of housing, which receives more than $30 million a year from the federal government to administer the credits, received five key recommendations from a state audit into the Low-Income Housing Tax Credit Program.
- State-by-State: Best Places to Live on a $100,000 Income
- Illinois Winner of $552M Mega Millions Jackpot Revealed as Chicagoland Local
- Reality Check: Is the IRS Actually Issuing $8700 Stimulus Checks?
- 2024 Stimulus Check Update: $1400 One-time Payment Details, Including Eligibility & Payment Schedule
- Master the Market: Billionaire Strategies for Investing in Hawaii’s Hottest Real Estate
Each year, a small number of innovations that enable property owners to charge less than market value rentals receive the honors.
More data-driven metrics, giving the poorest people priority, instituting a systematic project evaluation process as the main foundation for awards, creating a stricter conflict-of-interest policy, and establishing an official training policy are among the recommendations. All five suggestions were partially approved by the housing board.
The committee got the chance to ask the Board of Housing’s executive director direct questions during Monday’s meeting.
SEE MORE –
Changed Rules Now! New Arizona Budget Avoids Tax Hikes with Accounting Maneuvers, ESA Adjustments
Rather of viewing this report as a critique, you ought to view it as an opportunity. The legislature is available to support you as well. “Please come to the legislative branch and get in touch with us if you discover that there is a need,” stated Senate President Jason Ellsworth, a Republican from Hamilton. “I am aware that each member of this committee is aware of the housing crisis and is eager to assist.”
“We wholeheartedly concur that having other eyes is beneficial, especially with the staff the auditors brought in who have backgrounds in statistics. Getting outside advice on how to improve or alter our approach is something that is truly wonderful.
Executive director of the Board of Housing Cheryl Cohen stated, “We’re definitely dedicated to having those conversations with our stakeholders as we work through our (Quality Assurance Plan) process and with our board members.
According to Cohen, in response to the audit, they are putting additional training requirements and a stricter conflict of interest policy into place. Cohen continued, saying he is pleased the audit demonstrated their complete compliance with the law.