The President issued major disaster declarations for many Iowa and Nebraska counties because of the devastation caused by the severe weather events in March 2019. The declarations were issued under the Robert T. Stafford Disaster Relief and Emergency Assistance Act, 42 U.S.C. 5121 et seq.
Subsequently, the Federal Emergency Management Agency (FEMA) designated jurisdictions in several counties in Iowa and Nebraska for Individual Assistance. Due to the widespread damage to housing caused by these severe weather events, the IRS has determined that state housing agencies may provide approval to project owners in their respective states to provide temporary emergency housing for displaced individuals in accordance with this notice.
For purposes of this notice, the term “displaced individual” means an individual who resided in a jurisdiction designated for
and who has been displaced because his or her residence was destroyed or damaged as a result of the devastation caused by these severe weather events.
The IRS has also determined that the projects to which this approval may be given can be in any state, regardless of whether a major disaster declaration with Individual Assistance has been issued for that state.
Under Internal Revenue Notice: 2014-49, Individuals displaced from these counties as a result of these disasters are eligible to be housed in LIHTC properties under certain circumstances.