Federal / Agency News

ICAST’s IRA & BIL Instant Benefit Estimate Calculator is now available on NH&RA’s website under the Resources section.

The Treasury Department and the Internal Revenue Service released performance and quality standards that small wind energy property must meet to qualify for the renewable energy investment tax credit (ITC) or production tax credit (PTC).

The U.S. House of Representatives passed a bill that would help leverage private investment to fund upgrades to water and energy systems in aging HUD-assisted housing. The bill will go next to the Senate for consideration.

The U.S. Department of Housing and Urban Development announced a Small Building Risk Sharing Initiative, which aims to facilitate the financing of small multifamily properties. HUD is looking for both “Mission Based Lenders,” including Community Development Finance Institutions (CDFIs), other nonprofit lenders, public and quasipublic agenices, and “Private Lenders” that are approved as FHA MAP Lenders to participate in the program as Qualified Sharing Program Entities (QPEs).

Senate bill (S. 1795) and House bill (H.R. 3110) aim to provide tax relief to communities hit by natural disaster between 2012 and 2015. Provisions include an increased allocation of housing credits and the opportunity to compete for an additional allocation of New Markets Tax Credits.

The Community Development Financial Institutions Fund (CDFI Fund) has released New Markets Tax Credit Program (NMTC Program) eligibility data for 2010 census tracts in the Island Areas of the United States (American Samoa, Guam, the Northern Mariana Islands, and the U.S. Virgin Islands).

Senate Finance Committee approved a tax extender bill that fixes the 9% and 4% credit rate floor for allocations made in 2015 and 2016. These provisions are part of a larger two-year tax extender bill.

The U.S. Department of Housing and Urban Development (HUD) released a final rule on affirmatively furthering fair housing. The rule clarifies existing fair housing obligations and indicates that HUD will provide open data and technical assistance for HUD grantees to meet those obligations.

A FY-2014 report from the Housing Assistance Council provides an overview of the United States Department of Agriculture’s (USDA) rural housing loan and grant obligation activity. For multi-family programs, the report looks at how Section 515 funds, multi-family housing vouchers, and rental assistance contracts were awarded.

The U.S. Department of Housing and Urban Development published June 15 a revised Rental Assistance Demonstration (RAD) Notice. On Friday, July 10th, HUD will hold live Q/A sessions on the revised RAD Notice that was published on June 15, 2015.

The Senate Appropriations Subcommittee on Transportation, Housing and Urban Development approved Tuesday a FY-2016 THUD funding bill that slashes funds for the HOME program, which often provides vital funding for housing credit developments.

HUD published a notice outlining a new sampling methodology to calculate utility allowances for several multifamily affordable housing programs. The notice standardizes the methodology used to calculate utility allowances across many HUD housing programs and bases the calculations on actual consumption.

NH&RA calls on its members to stop the Senate Appropriations Committee from slashing funding to the HOME program, join efforts to strength LIHTC, help preserve tax-exempt multifamily bonds, and advocate for the historic tax credit.