Federal / Agency News
CDFI Fund Releases Updated Program Eligibility Data for NMTC & Capital Magnet Fund
The Department of Treasury’s Community Development Financial Institutions Fund (CDFI Fund) has established a plan for releasing updated program eligibility information based upon Census Bureau data from the 2011-2015 American Community Survey (ACS). Eligibility requirements for the Bank Enterprise Award Program (BEA Program), Community Development Financial Institutions Program (CDFI Program), Native American CDFI Assistance Program […]
Action Campaign Urges Tax Writers to Include LIHTC Provisions in Tax Reform
NH&RA has joined other members of the Affordable Rental Housing ACTION Steering Committee in a letter to the Chairmen and Ranking Members of the Senate Committee on Finance and House Ways & Means Committees urging Congress to include the Affordable Housing Credit Improvement Act of 2017 (S. 548 / HR 1661) in tax reform legislation […]
Tax Bill Delayed; Release Scheduled for Nov. 2
As of Wednesday afternoon, it appears Senate Republicans have secured enough votes for their budget resolution.
Rural Housing Services Aligns Financial Reporting Requirements With HUD
The Rural Housing Service (RHS) is revising its existing regulations regarding financial reporting to establish risk thresholds, align requirements with HUD and reduce program operating costs to RD and its borrowers. This rule is effective November 24, 2017 and is optional in FY-2018 and will be mandatory in FY-2019. Additional highlights of the rule include: […]
LIHTC Champion Rep. Tiberi Announces Departure from Congress
Representative Pat Tiberi (R-OH-12), the lead Republican sponsor on the House version of the Affordable Housing Credit Improvement Act (H.R. 1661) and a longtime champion of the Housing Credit, announced last week that he will leave Congress no later than January 31, 2018, nearly a year before his term ends. NH&RA thanks Rep. Tiberi for […]
House Financial Services Subcommittee Schedules Housing Finance Reform Hearing
The House Financial Services Subcommittee on Housing & Insurance will host a hearing entitled “Sustainable Housing Finance: Private Sector Perspectives on Housing Finance Reform” on Wednesday, October 25, 2017. The witness List includes: Mr. Kevin Chavers, Managing Director, BlackRock, on behalf of the Securities Industry and Financial Markets Association (SIFMA) Ms. Brenda K. Hughes, Senior Vice […]
Sen. Patty Murray Introduces Bill Coordinating Education and Housing
The bill would incentivize coordination amongst housing authorities, school districts, and community organizations to improve educational and housing outcomes for children.
HUD Expedites Relief from Regulatory Requirements for PHAs for Hurricane Relief Efforts
HUD recently published a notice in the Federal Register that establishes an expedited process for reviewing requests for relief from HUD regulatory/administrative requirements for PHAs located in Texas, U.S. Virgin Islands, Puerto Rico, Florida, and Georgia. The expedited process will also apply to future Major Disaster Declarations for the remainder of 2017.
HUD Publishes HUD Preservation Workbook and Recapitalization Excel Tool
The Successful Stewardship of Multifamily Housing Recapitalization Workbook is designed to support the exploration and decision-making that owners will undertake to preserve their properties.
HUD Adopts Alternative RAD Underwriting Criteria for Mixed Finance Projects
For mixed-finance projects, it can be difficult to refinance a property prior to the expiration of the tax credit compliance period. With this in mind, HUD’s Office of Recapitalization has adopted alternative underwriting criteria for these properties.
House Passes Budget Resolution: Why It Matters for Tax Reform
The House this week began debate over its fiscal 2018 budget resolution. While Tax Reform is a large task for Congress to take on, passing a concurrent resolution over the next month will be a critical first step in making tax reform more plausible for the coming year.
Immediate Advocacy Needed on Behalf of the Historic Tax Credit
As anticipated, Republican leadership released a tax reform framework intended to guide House and Senate tax writing committees in their drafting of tax reform legislation. The framework does not explicitly preserve the historic tax credit and envisions that most business tax credits will be repealed in order to achieve a 20% corporate tax rate.