Federal / Agency News

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

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.  

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).

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

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 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.

Last week, Congress avoided a shutdown by continuing FY 2024 appropriations to March 1 and 8.

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.

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.  

A new HUD notice sets an absolute annual cap of ten percent on income limit increases for housing financed by LIHTCs, private-activity bonds (PABs) and for various HUD programs, including Section 8.

House Ways and Means Committee Chairman Jason Smith (R-MO) and Senate Finance Committee Chairman Roy Wyden (D-OR) announced a tax agreement, which includes LIHTC provisions to restore the 12.5 percent increase for nine percent LIHTCs for 2023-2025 and lower the bond financed-by test to 30 percent for allocation made in 2024 and 2025.

HUD’s Office of Multifamily Housing Programs published a Housing Notice titled Green and Resilient Retrofit Program (GRRP) Supplemental – Notice A to add flexibility in both grant and supplemental loan funds, as well as other administrative changes, that will enhance owners’ and developers’ ability to leverage GRRP funds for energy efficiency and climate resilience upgrades and rehabilitation projects.