Federal / Agency News
IRS, DOE Release Additional Guidance on IRA Provisions, Including Low-Income Community ITC Bonus
The Internal Revenue Service (IRS) and the Department of Energy (DOE) released a proposed rule on Additional Guidance on Low-Income Communities Bonus Credit Program and Notice 2023-44 – Additional Guidance for the Qualifying Advanced Energy Project Credit Allocation Program.
MIC Releases Multifamily Impact Framework 1.0
The Multifamily Impact Council (MIC) released the Multifamily Impact Framework 1.0, which establishes a baseline of common principles, definitions and reporting guidelines for multifamily impact investments to help property owners and investors attract more impact-motivated capital.
Quarterly NSP Closeout Status Indicator Report
HUD announced a new report available related to the new quarterly closeout status indicator for the Neighborhood Stabilization Program (NSP).
Comments on FHFA’s RFI on Multifamily Tenant Protections Due July 31
The Federal Housing Finance Agency (FHFA) issued a Request for Input (RFI) on tenant protections at multifamily properties with mortgages backed by Fannie Mae and Freddie Mac.
Details of the Debt Limit and Spending Deal
President Joseph Biden (D) and House Speaker Kevin McCarthy (R-CA) released legislative text for a deal that would suspend the debt limit through Jan. 1, 2025, and place caps on federal spending for fiscal years 2024 and 2025.
HUD Releases Fiscal Year (FY) 2023 Income Limits
Last week, HUD released Fiscal Year (FY) 2023 Income Limits, which were effective on May 15, 2023. HUD once again instituted a cap, this year at 5.92 percent.
Bipartisan YIMBY Act Reintroduced in Congress
Senators Todd Young (R-IN) and Brian Schatz (D-HI) reintroduced the Yes In My Backyard (YIMBY) Act, a bill aimed at removing discriminatory zoning policies and burdensome regulations that hinder housing and community development.
Biden-Harris Administration Announces New Initiative to Tackle Unsheltered Homelessness
The Biden-Harris administration launched ALL INside, an initiative to address unsheltered homelessness across the country.
HUD, NAHB Hold Innovative Housing Showcase June 9-11
HUD and National Association for Home Builders (NAHB) announced details for the 2023 Innovative Housing Showcase.
Affordable Housing Credit Improvement Act Reintroduced
Last week, the Affordable Housing Credit Improvement Act was reintroduced in both the House and Senate as H.R. 3238 and S. 1557.
HUD Releases Green and Resilient Retrofit Program NOFOs
HUD released the Notice of Funding Opportunity (NOFO) for its Green and Resilient Retrofit Program (GRRP).
NSPIRE Inspections to Start July 1 for Public Housing, Oct. 1 for HUD-Assisted Properties
Last week, HUD published the final rule for the National Standards for the Physical Inspection of Real Estate (NSPIRE), which establishes a new approach to defining and assessing housing quality.