Congress

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

An Election Day sweep by Democrats would make it more likely there would be legislative and regulatory changes to expand and enhance community development tax incentives, according to a report released Sept. 22 by Novogradac & Company LLP.

NH&RA has joined more than 200 organizations in endorsing legislation introduced by Senators Brian Schatz (D-HI), Lisa Murkowski (R-AK) and Dan Sullivan (R-AK), which would extend two key statutory deadlines for the 2020 Census by four months and require the Census Bureau to continue field operations through October 31, 2020.

The Senate reconvened yesterday, September 8 and the House of Representatives will be back in session next week. Both chambers have only a few working days to accomplish a myriad of tasks before they are set to adjourn before the elections: The House will adjourn on October 2 and the Senate will adjourn on October 9.

The House Committee on Financial Services will hold a virtual roundtable at 3:00 pm ET on September 3 on Dismantling Barriers to Housing for America’s Seniors and People with Disabilities.

NH&RA joined the Campaign for Housing and Community Development Funding (CHCDF) letter to House and Senate Appropriations Subcommittees on Transportation, Housing and Urban Development (THUD) thanking the House for their work securing increased funding and meaningful protections for fiscal year (FY) 2021 and urging the Senate to do the same.

In response to President Trump’s Executive Order on evictions, the Centers for Disease Control and Prevention (CDC) released an agency order immediately implementing an eviction moratorium.

Over the weekend, President Trump issued three COVID-19 related executive orders (EO) on “Deferring Payroll Tax Obligations,” “Providing Assistance to Renters and Homeowners” and “Other Needs Assistance Program.” The presidential action comes as Congressional and White House negotiations over the next COVID-19 aid package have stalled.

Last week the House passed H.R. 7617, which provides fiscal year (FY) 2021 funding for six appropriations subcommittees, including HUD. The House bill is expected to provide adequate appropriations to renew existing Housing Choice Vouchers and Project-Based Rental Assistance, and provides increases for most programs, including the Community Development Block Grants, HOME Investment Partnerships Program (HOME), Section 202 and Section 811, which would also receive additional funding through emergency infrastructure investments. The bill also contains two amendments that would block the Trump Administration’s recent regulatory action on the Disparate Impact Rule and the Affirmatively Furthering Fair Housing (AFFH).

On July 31, a bipartisan group of 103 Representatives, including 44 Republicans and 59 Democrats, sent a letter to House leadership urging the inclusion of LIHTC priorities in the next COVID-19 response package.

The ACTION Campaign recently updated its national, state and district fact sheets to include the most recent data from 2018. The update found that nationwide more than 3.3 million affordable rental homes have been financed by the Housing Credit, which have served an estimated 8 million households and provided an estimated 5.2 million jobs, $206 billion in tax revenue, and $593 billion in wages and business income.

On Monday, Senate Republican’s released text of their Health, Economic Assistance, Liability Protection and Schools (HEALS) Act. The bills include an additional round of $1,200 stimulus payments, additional funding for the Paycheck Protection Program (PPP), liability protections for businesses that reopen and unemployment compensation. The bill notably does not extend the eviction moratorium that expired on July 24 or any LIHTC provisions.

Reps. Maxine Waters (D-CA), Wm. Lacy Clay (D-MO) and Denny Heck (D-WA), sent a letter to Dr. Mark Calabria, director of the Federal Housing Finance Agency (FHFA), urging the agency to prioritize economic recovery amid the COVID-19 pandemic crisis by pausing a rulemaking that would set new capital requirements for Fannie Mae and Freddie Mac (collectively “the Enterprises”) until after the pandemic.