Federal / Agency News
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.
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.
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 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.
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.
Green and Resilient Retrofit Program (GRRP) Updates
HUD has awarded just over $295 million during the first four of the 12 GRRP funding rounds.
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 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.
Congress Punts FY 2024 Spending to March; January 25 Day of Action
Last week, Congress avoided a shutdown by continuing FY 2024 appropriations to March 1 and 8.
House Tax Committee Advances Legislation with LIHTC Priorities
Last week, the House Ways and Means Committee approved the Tax Relief for American Families and Workers Act of 2024 (H.R. 7024) with a 40 – 3 vote.
House HUD Oversight Hearing Summary
Last week, the House Financial Services Committee held an Oversight Hearing with HUD Secretary Marcia Fudge. The meeting centered around the rise of housing supply, unaffordability, homelessness and the conditions of public housing.