Federal / Agency News

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

NH&RA’s first-ever Public Housing Joint Venture Symposium offered attendees a unique opportunity to gain insight into the progress and updates to key HUD programs. More than 100 developers, syndicators, lenders, and other members of the affordable housing community gathered to voice their concerns and questions to HUD representatives, as well as connect with peer organizations who are working on similar issues.

On February 2, President Barack Obama introduced his fiscal year (FY) 2016 budget, requesting a total of $49.3 billion for Department of Housing and Urban Development (HUD) programs and proposing significant policy changes aimed at improving the Low-Income Housing Tax Credit (LIHTC) program and a proposal to modify and permanently extend the New Markets Tax Credit (NMTC) program.

The U.S. Department of Housing and Urban Development (HUD) released a notice in the Federal Register announcing its plan to implement changes made to the Rental Assistance Demonstration (RAD) program in the 2015 HUD Appropriations Act.

Senate Finance Committee Chairman Orrin Hatch (R-UT) and Ranking Member Ron Wyden (D-OR) recently announced the launch of five separate bipartisan Finance Committee Tax Working Groups to spur congressional comprehensive tax reform efforts in the 114th Congress.

The United States Supreme Court recently heard oral arguments related to Texas Department of Housing and Community Development (TDHCA) vs. Inclusive Communities Project (ICP), a case that is examining whether or not disparate impact is “cognizable” under the Fair Housing Act.

In a recent report Understanding Whom the LIHTC Program Serves, HUD examines several years of demographic and economic data on LIHTC tenants provided by state housing finance agencies through an annual data collection process mandated by HERA.

HUD recently issued a Notice in Federal Register seeking to streamline requirements across the public housing and Section 8 (tenant- and project-based) portfolios.

NH&RA signed-on to support the National Low Income Housing Coalition’s campaign to urge lawmakers to to act quickly to stop budget caps and sequestration from taking effect in the upcoming fiscal year.

On Dec 11, 2014, House Ways and Means Committee chairman Rep. Dave Camp H.R. 1, released the Tax Reform Act of 2014 and U.S. Senate Senate Finance Committee Republican staff released the report “Comprehensive Tax Reform for 2015 and Beyond.” Both the legislation and the report have implications for the future of housing tax credits.

Federal Housing Finance Agency (FHFA) Director Melvin L. Watt instructed Fannie Mae and Freddie Mac to begin setting aside and allocating funds for the Housing Trust Fund and the Capital Magnet Fund. The funds have sat empty since they were created six years ago due to a temporary suspension.

The U.S. Treasury Department announced that Annie Donovan will be the new Director of the Community Development Financial Institutions Fund (CDFI Fund).

The 2014 mid-term elections are almost over and by any measure they were a victory for Republicans in both the House and Senate. Republicans will gain control of the Senate with no less than 52 seats in the chamber and the potential to hold as many as 55 depending on the final results in Virginia, Louisiana, and Alaska. David Gasson explores what this means for affordable housing…