Federal / Agency News
President Trump Releases Budget Blueprint
The “skinny” budget would cut HUD funding from $46.9 billion in FY-2017 to $40.7 billion – a 13.2 percent reduction.
Help Protect the National Housing Trust Fund
The National Low Income Housing Coalition has composed a sign-on letter urging Congress to maintain funding for the National Housing Trust Fund, the only Federal Program designed to preserve and build housing for the lowest income bracket. NH&RA is proud to be a signatory on the letter and urges its members to sign on as well by the March 22 deadline. See below for a message from NLIHC:
New Guidance Released for HTC Functionally Related Buildings Separate Project Treatment
The new guidance, released by the National Park Service, gives examples of when buildings functionally related historically can be treated as separate projects for the purpose of certification.
Calls for Increased Defense Spending and What it Means for HUD
Obtained preliminary budget documents from the Trump Administration reportedly outline a 14% cut for HUD – over $6B. Whether the obtained documents go into OMB’s final budget or not, plans for boosting defense spending by $54 billion, along with some Members of Congress proposing an even higher increase, will create budget consequences for programs like HUD.
Dr. Ben Carson Confirmed as HUD Secretary
By a vote of 58 to 41, the Senate last Thursday confirmed retired neurosurgeon and former Republican presidential candidate Dr. Ben Carson as the next Secretary of Housing and Urban Development.
Senator Cantwell Reintroduces Legislation to Expand Housing Credit
Sen. Maria Cantwell (D-WA) announced Monday that she is reintroducing legislation with at least ten other Senators (including co-sponsor Sen. Orrin Hatch (R-UT) to improve and expand the Low Income Housing Tax Credit.
Legislation Introduced to Nullify HUD’s Affirmatively Furthering Fair Housing Rule
Rep. Paul Gosar (R-AZ) recently introduced H.R. 482, as Senator Mike Lee (R-UT) introduced S. 103, an identical piece of companion legislation in the Senate.
GAO Publishes Study on the Role of Syndicators in LIHTC Industry
The report makes no recommendations.
Proposed Legislation Would Reform Mortgage Interest Deduction to Benefit Affordable Housing
The legislation would reduce eligibility for the Mortgage Interest Deduction and divert the savings to the LIHTC program, the Housing Trust Fund, and HUD and RD programs.
HUD Historic Preservation Award – Nominations Due 3/27/17
HUD is partnering with the Advisory Council on Historic Preservation (ACHP) to offer the HUD Secretary’s Award for Excellence in Historic Preservation.
Bill Introduced to Make Permanent New Markets Tax Credit
Reps. Pat Tiberi (R-OH), and Richard Neal (D-MA) introduced the legislation on Feb. 15, 2017
HUD Announces RAD Revision 3 Training
HUD will host two trainings on the RAD Notice revision changes. NH&RA is sending a comment letter to HUD this week regarding the revisions.