Federal / Agency News
House of Representatives Approves Tax Reform 2.0; Tax Credit Provisions Absent
On Monday, Sept. 10, House Ways & Means Committee Chair Kevin Brady (R-TX) introduced a three bill follow-up to the Tax Cuts and Jobs Act. These bills constitute Republicans’ Tax Reform 2.0 package and primarily lock in individual and small business tax cuts made in the legislation passed in December 2017, and reform savings- and education-related tax provisions. […]
HUD OIG Audit Finds REAC Could Improve Inspections Processes & Controls
The Office of Inspector General (OIG) for the US Department of Housing and Urban Development issued an Audit Report on August 31, 2018 entitled “REAC Could Improve Its Inspections Processes and Controls.” The objective of the auduit was to determine whether REAC had adequate processes for and controls over the certification and monitoring of contracted […]
HUD Announces New Oregon Field Office Director
HUD has announced that Tony Ramirez, a 20-year HUD veteran who has served the past 14 years as director of HUD’s Reno, Nevada field office, will serve as the new Oregon Field Office Director.
House Committee Reviews Effect of Regulation on Affordable Multifamily Housing
On September 6, the housing and Insurance Subcommittee of the House Financial Services Committee held a hearing to examine how the costs of regulation are forming a barrier that prevents more affordable housing development. “The lack of development is especially concerning,” said subcommittee chair Sean Duffy (R-WI), “because while we continue to enjoy some of […]
Sen. Wyden Introduces Middle Income Housing Tax Credit
On August 22, U.S. Sen. Ron Wyden (D-OR) introduced legislation to create a middle-income housing tax credit (MIHTC) aimed at sparking the development of rental homes affordable to Americans with moderate incomes.
Nancie-Ann Bodell Named Director, Multifamily Housing Programs at Rural Development
Bodell replaces Stephanie White, who retired in 2017.
HUD Invites Public Comment on Affirmatively Furthering Fair Housing
The notice poses 8 questions that HUD is specifically interested in hearing about from stakeholders as it determines how to streamline and enhance Affirmatively Furthering Fair Housing regulations.
House Introduces Bill to Increase LIHTC Allocation
The bill would increase the per-capita LIHTC allocation from $2.70 to $2.90, increase the small-state minimum by $265,000 for a total minimum allocation of $3.365 million to small states, and other changes as well.
House Bill Would Give Rural NMTC $1 Billion Boost
The additional authority would be reserved for Rural Job Zones. Furthermore, at least 25% of the additional authority would be set aside for persistent poverty counties and/or high migration rural counties.
Continuing Resolution Enancted; T-HUD Appropriations Funded Through Dec. 7
The Senate today passed a four spending bill package (HR 6147), including its Transportation, Housing, and Urban Development bill (S. 3023) which would increase appropriations for HUD by 4% over last year’s funding amount, while the House version would increase HUD funding by roughly 2%.
Senate Introduces Bill to Create Task Force Evaluating Impact of Affordable Housing Crisis
The task force would be composed of 18 members, all of whom would be appointed in a bi-partisan fashion by majority and minority leaders of the House and Senate.
Senator Harris Introduces Tax Credit for Renters Paying Over 30% of Income on Rent and Utilities
The tax credit would be available to renters earning less than $100,000, and the benefit shrinks as a tenant’s income rises.