The Federal Housing Finance Agency (FHFA) announced that Fannie Mae and Freddie Mac (The Enterprises) are each allowed to invest up to $1 billion annually (originally $850 million) in LIHTC equity beginning in 2024. The new cap includes a provision that any annual investments beyond $500 million are identified as having difficulty attracting investors. The investments are only in LIHTC developments that have 30-year affordability periods, and the enterprises will only make LIHTC investments in projects that waive the qualified contract provision.