Congress
House Markup of FY 2020 T-HUD Bill – March 23
The Transportation, Housing and Urban Development, and Related Agencies (T-HUD) Subcommittee of the House Appropriations Committee will markup the FY 2020 T-HUD appropriations bill at 8:30 am EDT on May 23.
Historic Tax Credit Legislation Introduced
Last week Representative Earl Blumenauer (D-OR), along with Reps. Darrin LaHood (R-IL), Terri Sewell (D-AL), Mike Kelly (R-PA), Michael Turner (R-OH) and Brian Higgins (D-NY), introduced the Historic Tax Credit Growth and Opportunity (HTC-GO) Act, H.R. 2825.
Trump calls Fannie, Freddie a ‘pretty urgent problem’, Calabria argues FHFA has authority to act without Congress
This American Banker article explores the remarks from President Trump at the recent National Association of Realtors event. “This is a pretty urgent problem. We’re doing well with it now… We have many geniuses looking at it and we’ll figure something out.”
At the Mortgage Bankers Association conference, Federal Housing Finance Agency (FHFA) Director Dr. Mark Calabria said “ while I’m committed to working with Congress, I’m not going to wait on Congress.”
House Approves 302(b)s for FY 2020 Appropriations
The House Appropriations Committee recently approved FY 2020 allocations for its 12 subcommittees, known as 302(b)s. The allocations total $1.295 trillion in discretionary funding and were approved on a 30-22 vote.
HUD HFSC Oversight Hearing May 21
On May 21 at 10 am, the full House Financial Services Committee (HFSC) will hold a hearing, titled “Housing in America: Oversight of the U.S. Department of Housing and Urban Development.”
ACTION Campaign Releases Updated National & State LIHTC Factsheets
The ACTION Campaign released updated national and state factsheets that show the impact of the LIHTC in all 50 states and the District of Columbia. In addition to the regular information on homes developed or preserved, jobs supported and the need for affordable housing, this year’s factsheets also include estimates on how many homes could be built with a 50 percent LIHTC increase.
Senators Introduce OZ Reporting Legislation
Senators Cory Booker (D-NJ), Maggie Hassan (D-NH), Tim Scott (R-SC) and Todd Young (R-IN) introduced S. 1344 which would require the Secretary of the Treasury to collect data and issue a report on the Opportunity Zone (OZ) tax incentives.
HFSC Infrastructure Hearing
On April 30 the House Financial Services Committee (HFSC) held a hearing on Housing in America: Assessing the Infrastructure Needs of America’s Housing Stock. The hearing featured discussion on Chairwoman Maxine Water’s (D-CA) draft bill, Housing Is Infrastructure Act of 2019, and testimony from:
HFSC Housing Hearings – April 30 & May 21
The full House Financial Services Committee (HFSC) will hold two upcoming housing related hearings. The April 30 hearing will focus on “Housing in America: Assessing the Infrastructure Needs of America’s Housing Stock.” The May 21 hearing will focus on “Housing in America: Oversight of the U.S. Department of Housing and Urban Development.”
NYT: Renters Are Mad. Presidential Candidates Have Noticed.
This New York Times article by Emily Badger dives into the 2020 presidential candidates’ positions on affordable rental housing. From the article, “I hope [affordable housing] becomes an obvious part of the package…how can you run for President without speaking to this?”
Senate Confirms Calabria as Director of FHFA
On April 4, 2019 the Senate voted 52-44 to confirm Mark Calabria as the director of the Federal Housing Finance Agency (FHFA).
HFSC Passes the Ending Homelessness Act
The House Financial Services Committee (HFSC) passed the Ending Homelessness Act (H.R. 1856) with a 32-26 vote. The legislation provides $13.27 billion in new funding over five years to federal programs and initiatives to prevent homelessness. It includes funding for new units of affordable housing, new vouchers, case management and technical assistance.