Congress

U.S. Representatives Marcia L. Fudge, Marcy Kaptur, Dennis Kucinich, Tim Ryan, Betty Sutton, and Richard Neal recently highlighted the benefits of the New Markets Tax Credit (NMTC) program and urged Congress to extend the program.

Congressmen Pat Tiberi (R-OH) and Richard Neal (D-MA) recently introduced H.R. 3661, a bill which would permanently extend the flat 9% credit rate and create a flat 4% credit rate for allocated LIHTCs.

Recently the Senate Banking Committee voted to approve President Obama’s nomination of Carol Galante as the next Federal Housing Administration (FHA) Commissioner and Maurice A. Jones as the next Deputy Secretary of HUD.

NH&RA is pleased to present the PowerPoint presentations from the recent 2011 Fall Developers Forum (November 14-15) in Boston, Mass.

The House Financial Services Subcommittee on Insurance, Housing and Community Opportunity met November 2, 2011 to discuss the Obama Administration’s proposed demonstration program, Rental Assistance Demonstration (RAD). The RAD proposal evolved out of the Obama Administration’s Transformation of Rental Assistance proposal and would help preserve public housing and projects subsidized by the HUD “orphan” programs (RAP, Rent Supp and Section 8 Moderate Rehab) by allowing Public Housing Authorities (PHAs) and owners to apply to convert to long term project-based rental assistance (either project-based section 8 vouchers or MAHRA type-project-based rental assistance).

The US Senate Transportation-HUD Appropriations The US Senate Transportation-HUD Appropriations Subcommittee marked up and reported its FY 2012 Transportation, Housing and Urban Development, and Related Agencies Appropriations Bill on September 21. A summary released by the Committee reports the following funding decisions…

Committees from both the House and Senate have sent deficit reduction recommendations to the Joint Select Committee on Deficit Reduction (Super Committee). Several recommendations made by both parties from the House Financial Services would have significant impacts on federal housing program funding.

Last week, the United States Senate considered multiple amendments to an appropriations minibus, H.R.2112, which includes the annual spending bills for Agriculture, Commerce-Justice-Science, Transportation, and Housing and Urban Development. Despite Senate Majority Leader Harry Reid’s (D-NV) hopes to approve the spending bill by the end of last week, the Senate instead made a deal to revisit the legislation and vote by November 1.

Committees in the House and Senate recently approved FY-2012 funding bills that would make deep cuts in the budget for HUD programs. And while both houses have expressed a firm commitment to preserving federal rental assistance for the low-income families, neither funding bill achieves this goal, according to a new report released by the Center on Budget & Policy Priorities (CBPP).

Senators Jim Webb (D-VA) and Mark Warner (D-VA) today introduced “The Rehabilitation of Historic Schools Act of 2011,” which provides a tax credit for communities to partner with private sector developers to rehabilitate the nation’s older school buildings.

U.S. Representative Brian Higgins (D-NY) last week introduced H.R. 3224 to extend the New Markets Tax Credit (NMTC) program through 2016.

The Center for Budget and Policy Priorities (CBPP) recently released a report detailing the usage of Housing Choice Vouchers (HCV). The report finds that in 2010, 2,083,187 families in the United States used HCVs yet only 91 percent of the National authorized vouchers were utilized…