On July 23, 2015, The U.S. Government Accountability Office (GAO) released a report on Federal oversight of the Housing Credit program. The report was requested by Senator Charles Grassley (R-IA) and can be found in its entirety here.
The report suggests that the IRS lacks appropriate resources to engage in more than minimal oversight of the Housing Credit arguing that joint HUD and IRS oversight would be better – though the report also notes that this would require additional resources and staff at HUD. It is important to note however that the report did not cite any specific problems with the program as a whole.
Linked below is AHTCC’s response to the GAO report and its suggestion for joint IRS and HUD oversight. While AHTCC welcomes whatever oversight Congress believes to be appropriate, AHTCC does not agree that joint oversight is necessary.