The ACTION Campaign steering committee, of which NH&RA is a member, sent a letter to the Senate Finance Committee Employment and Community Development Task Force. The Task Force is tasked with examining temporary tax incentives and members of the Task Force encouraged the ACTION Campaign to submit comments about the Affordable Housing Tax Credit. The letter details the success of the LIHTC and urges Congress to pass the Affordable Housing Credit Improvement Act of 2019 (S. 1703/H.R. 3077).
Federal / Agency News Category Archives
House Introduces Bill to Extend NMTC
On Thursday, June 20 at 9:30 am EDT, the House Ways and Means Committee will markup The Taxpayer Certainty and Disaster Tax Relief Act of 2019 (H.R. 3301), which would extend the New Markets Tax Credit (NMTC) through 2020. The NMTC will expire at the end of 2019 absent congressional action. The bill would also increase California’s LIHTC allocation by 50 percent of the 2017 and 2018 LIHTC allocation or the aggregate amount allocated to buildings in qualified disaster areas, whichever is less. The markup will take place in room 1100 of the Longworth House Office Building and via webcast.
HUD Posts Annual Factors for Determining PHA Admin Fees
HUD recently published a Notice of Annual Factors for Determining Public Housing Agency (PHA) administrative fees for the Section 8 Housing Choice Voucher, Mainstream and Moderate Rehabilitation programs.
Read MoreSenators Reintroduce Affordable Housing Task Force Bill
Senator Todd Young (R-IN) reintroduced the Task Force on the Impact of the Affordable Housing Crisis Act along with 15 of his colleagues.
Read MoreAffordable Housing Credit Improvement Act introduced in Senate & House
On June 4, Senators Maria Cantwell (D-WA), Johnny Isakson (R-GA), Ron Wyden (D-OR) and Todd Young (R-IN) introduced The Affordable Housing Credit Improvement Act of 2019 (S. 1703) while Representatives Suzan DelBene (D-WA), Don Beyer (D-VA), Kenny Marchant (R-TX) and Jacky Walorski (R-IN) introduced companion legislation H.R. 3077 in the US House of Representatives. The ACTION Campaign is submitting a letter to Congress demonstrating the strong support for the Affordable Housing Credit Improvement Act. The deadline to sign-on to the letter is Tuesday, June 11.
Read MoreHUD Seeks Comments on Proposed Change to FMR Methodology
HUD published a notice of proposed changes for estimation of Fair Market Rents (FMRs) in the Federal Register. In response to frequent comments on the need for more local and timely data, HUD is considering updating its FMR methodology to include Trend Factor Changes and to use neighboring zip codes in place of county-based Small Area FMRs.
Read MoreHUD Multifamily Posts New Closing Checklists
HUD posted new closing checklists for use with the recently revised FHA closing documents. The new checklists include non-substantive changes to the layout, re-ordering of certain items, removal of items that have been added to other form documents, and a new checklist for the “Heavy” 223(f) closings.
Read MoreHUD Publishes Updated RAD Inventory Assessment Tool
HUD published an updated RAD Inventory Assessment Tool. The tool is designed for PHAs that are newly considering or re-considering RAD at RAD rents based on the FY 18 Appropriation levels.
Read MoreFY 2020 T-HUD Funding Passes House Appropriations Committee
On June 4, the House Appropriations Committee approved the FY 2020 Transportation-HUD appropriations bills on a partisan 29-21 vote. The bill provides $50.1 billion for HUD programs, $5.9 billion of the FY 2019 enacted funding level.
Read MoreHUD Releases Location Affordability Index Updates
Last week HUD released Version 3 of the Location Affordability Index (LAI) dataset. The LAI is a nationwide database of modeled household housing and transportation costs launched by HUD and the Department of Transportation in 2013. The updated version provides greater insight into how these costs vary by geographic and household characteristics. Version 3 primarily uses data from the 2012-2016 American Community Su
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