News
Neighborhood Homes Improvement Act Introduced in the House
Last week, Representatives Mike Kelly (R-PA) and Brian Higgins (D-NY) reintroduced the Neighborhood Homes Investment Act (H.R. 3940).
NLIHC Publishes 2023 Out of Reach Report
The National Low Income Housing Coalition (NLIHC) published the 2023 edition of its annual Out of Reach Report, which compares the wages people earn and the costs of modest rental housing in every state, metropolitan area and county in the U.S.
Register for JCHS Report Release Event – June 21
The Joint Center for Housing Studies at Harvard University will release its annual State of the Nation’s Housing Report next week.
Update for CPD Income Eligibility Calculator Users
HUD announced that on June 15, 2023, the Community Planning and Development (CPD) Income Eligibility Calculator will update to incorporate the FY 2023 Income Limits for all programs.
NMTC Qualified Equity Investment Report
The U.S. Department of the Treasury CDFI Fund announced that the June New Markets Tax Credit Program Qualified Equity Investment (QEI) report has been updated and is available.
Oklahoma Housing Stability Program
Oklahoma HFA announced HB 1031, also known as the Oklahoma Housing Stability Program, became law June 2 with an effective date of July 1.
2,600 Organization Call on Congress to Support the Affordable Housing Credit Improvement Act
On the heels of the newly reintroduced Affordable Housing Credit Improvement Act (S. 1557 / H.R. 3238), The ACTION Campaign sent a letter to Congress calling for cosponsors and seeking action on any future tax legislation.
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).
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.
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.