Federal / Agency News

NH&RA News

NH&RA Hosts ICAST IRA & BIL Instant Benefit Estimate Calculator

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

HUD

HUD Publishes Budget Based Rent Adjustments for Mark-to-Market (M2M) Properties Notice, Training March 12

HUD’s Office of Multifamily Housing Programs published Housing Notice 2024-05, which allows budget-based rent adjustments (BBRA) for Section 8 project-based rental assistance housing assistance payment contracts at properties subject to a M2M Use Agreement.

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Appropriations Update

The House will vote on six of the 12 Fiscal Year (FY) 2024 bills today.

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120 Organizations Join Letter to Senate; Continue Advocacy Needed

NH&RA joined with 120 national and state affordable housing organizations in a letter to Senate leadership, urging the Senate to enact the LIHTC provisions included in the legislation.

HUD

HUD Updates Discretionary Policies for Owners Implementing HOTMA

HUD published a revised HOTMA Implementation Notice (Notice H 2023-10) that now includes information to address the asset limitation found in Section 104 of the Housing Opportunity Through Modernization Act of 2016.

IRS

IRS Issues Updated Guidance for Form 8823

The Internal Revenue Service (IRS) issued updated guidance for completing Form 8823, the form used by State and Local LIHTC agencies to notify the IRS in the event of noncompliance or building disposition.

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House Approves Tax Package with LIHTC Priorities, Advocacy Needed in the Senate

Last week, the House of Representatives voted overwhelmingly (357-70) to pass The Tax Relief for American Families and Workers Act of 2024 (H.R. 7024).

IRS

IRS Provides Guidance on Returned Disaster Housing Credit Authority 

The Internal Revenue Service (IRS) published Revenue Ruling 2024-5, which provides guidance on the treatment of returned disaster Housing Credits for the 11 states and Puerto Rico that received disaster credit authority in the Taxpayer Certainty and Disaster Tax Relief Act of 2020.

SAHF’s Carbon Roadmap Updates Includes New Features to Support Decarbonization Implementation

Stewards of Affordable Housing for the Future (SAHF) updated its Multifamily Portfolio Carbon Emissions Roadmap, which allows portfolio owners to create action plans to reduce their annual greenhouse gas (GHG) emissions in CO2 equivalent.  

General News

DOE Announces First Applicants for Home Energy Rebates Program

The U.S. Department of Energy (DOE) recently announced that the first group of states (California, Hawaii, New Mexico and New York) applied to its Home Energy Rebates program.

HUD

Green and Resilient Retrofit Program (GRRP) Updates

HUD has awarded just over $295 million during the first four of the 12 GRRP funding rounds.

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House Considering Voting on Tax Bill Containing LIHTC Priorities this Week

Speaker Mike Johnson (R-LA) is considering putting H.R. 7024, Tax Relief for American Families and Workers Act of 2024 on the House floor for a vote this week under suspension of the rules.

HUD

HUD Seeks Feedback on RAD Closing and Post-Closing Processes

HUD Recap is hosting a listening session on January 24 at 12:00 p.m. ET. The facilitated listening session is part of the Closing and Post-Closing team’s ongoing process evaluation efforts.

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