Federal / Agency News
Representatives Circulate NMTC Dear Colleague Letter
Representative Steve Stivers (R-OH) and Representative Jose Serrano (D-NY) are circulating a “Dear Colleague Letter” request support for a permanent NMTC extension before the end of 2018. The letter is addressed to Ways and Means Chair Kevin Brady (R-TX) and is intended for members who are not on the Ways and Means Committee. The deadline to sign […]
HUD Re-Examining REAC Inspections; Publishes New Notice on Physical Conditions Standards
As part of HUD’s continuing effort to support “decent, safe and sanitary housing,” Secretary Carson is leading a wholesale re-examination of how the Department conducts inspections to ensure private owners are meeting this standard. As HUD continues its internal review of these inspection protocols, the Department is exploring immediate improvements and those refinements over the […]
IRS Issues Opportunity Zone Proposed Regulations
On Friday, October 19 the Internal Revenue Service (IRS) issued several critical documents relating to the Opportunity Zone Incentive. This includes:
HUD Schedules FSS Listening Session on Oct. 9
The Family Self-Sufficiency program was re-authorized on May 24, 2018 as part of the Economic Growth, Regulatory Relief, and Consumer Protection Act.
HUD Temporarily Extends FFB Risk Share FFB Initiative
HUD has announced it will be extending its Multifamily risk-sharing initiative with the Federal Financing Bank (FFB) for eligible Housing Finance Agencies (HFAs) through December 31, 2018. The initiative was originally scheduled to cease accepting new applications for commitments from HFAs on September 30, 2018, but will now accept new applications for commitments under this […]
Senator Warren Introduces Expansive Affordable Housing Legislation
On September 25, 2018 Sen. Elizabeth Warren (D-Mass.), introduced the American Housing and Economic Mobility Act of 2018 which would dramatically expand funding for the for affordable housing. The measure aims to use federal funding as leverage to build up to 3.2 million new housing units for lower-income and middle-class families – bringing down rents […]
House Financial Services Committee Schedules GSE Reform Hearing on Sept. 27
The Committee on Financial Services will hold a hearing entitled “Oversight of the Federal Housing Finance Agency’s role as conservator and regulator of the Government Sponsored Enterprises” on Thursday, September 27, 2018, at 10:30 a.m. in room 2128 of the Rayburn House Office Building. This will be a two-panel hearing with the following witnesses: Panel […]
RAD Program Converts 100k Public Housing Units
NH&RA congratulates the US Department of Housing & Urban Development and on achieving an important milestone — the conversion and preservation of 100,000 public housing units through the Rental Assistance Demonstration (RAD) Program! HUD Secretary Ben Carson, Assistant Secretary for Housing Brian Montgomery, and Multifamily Office of Recapitalization Director Tom Davis were joined by the Housing Authority of the City of Austin and additional officials in Austin, Texas, to celebrate this momentous occasion.
GAO Publishes Long Awaited LIHTC Cost Report
On September 18, the U.S. Government Accountability Office (GAO) published a new report “LOW-INCOME HOUSING TAX CREDIT: Improved Data and Oversight Would Strengthen Cost Assessment and Fraud Risk Management.”
HUD Introduces 2017 American Housing Survey
In the leadership message, director of PD&R’s Housing and Demographic Analysis Division Shawn Bucholtz discusses the release of the 2017 American Housing Survey (AHS) data.
IRS Submits Opportunity Zone Regulation to OMB for Review
The Internal Revenue Services submitted regulatory guidance for the Qualified Opportunity Zone Program to the Office of Information and Regulatory Affairs, a division of the White House Office Management of the Budget (OMB) on Wednesday September 12. This proposed rule is expected to clarify several issues relating to the incentive. The specifics of the proposed regulatory […]
House Members Introduce Bipartisan GSE Reform Measure
On September 6, the tenth anniversary of the federal government’s takeover of Fannie Mae and Freddie Mac, retiring House Financial Services Committee chair Jim Hensarling (R-TX) released a discussion draft for the Bipartisan Housing Finance Reform Act. The measure is co-sponsored by Reps. John Delaney (D-MD) and Jim Himes (D-NY) and would eliminate Fannie Mae […]