NCSHA 2026 Priorities

State housing finance agencies are the center of the nation’s affordable housing finance system. Operating on a self-sufficient foundation of strong balance sheets, public accountability, and access to the capital markets, HFAs also administer a wide range of federal programs. For decades, elected officials from both parties in Washington, DC, have counted on state HFAs to deliver federal funding for housing throughout their states efficiently and effectively, alongside their own substantial resources.

To meet those responsibilities and execute their mission under their states’ laws, HFAs advocate for:

• A reliable and responsive federal partner that empowers states to meet their unique housing needs;
• A comprehensive commitment to addressing America’s housing affordability challenges at their root cause: an insufficient supply of for-sale and rental homes affordable to millions of low- and moderate-income families;
• A sustained focus on additional steps to lower housing costs and increase housing access, especially for families and communities that are underserved by the conventional housing market; and
• A rigorous effort to reduce and eliminate federal regulations that unnecessarily increase the costs to buy, build, operate, and own affordable homes and apartments, especially for people and communities HFAs determine are underserved in their states.

To make progress towards each goal, HFAs are working with members of both parties in Congress, federal agencies, and other housing organizations on specific legislative, regulatory, and administrative issues.

• For HFAs, a reliable and responsive federal partner starts with:
  • Timely release of appropriated federal funds consistent with congressional intent and under terms and conditions that HFAs and their partners can reasonably meet cost-effectively and in compliance with state law.
  • Stable and efficient operations of federal programs, agencies, and systems on which HFAs and their thousands of private-sector partners in housing finance and development depend, without excessive regulatory burdens.
  • Consistent implementation of policies based on their real-world impacts and opportunities to engage with policymakers in the revision of existing policies and development of new ones.

• For HFAs, a comprehensive commitment to increase and improve America’s housing supply starts with:
  • More federal investment in programs that work and are leveraged many times over by HFAs and their partners, including the Low-Income Housing Tax Credit, Housing Bonds, HOME block grant, multifamily risk-sharing through the Federal Financing Bank, and funding for permanent supportive housing.
  • Sustained federal support for the programs that ensure the continued quality and affordability of affordable housing, including state-by-state (plus DC-, Puerto Rico-, and Virgin Islands-specific) administration of HUD project-based rental assistance by state HFAs with the willingness and authorization under state law to deliver those services; and new tools to support the preservation, improve the performance, and lower the operating costs of affordable rental homes and properties.
  • Enactment of new funding for key areas current programs do not address, including a Neighborhood Homes Tax Credit for starter home construction and effective implementation of policies to support middle-income and market-rate construction, including Opportunity Zones.
  • Sufficient funding and flexibility for states to meet housing and related recovery needs after natural disasters.

• For HFAs, a sustained focus on additional steps to lower housing costs and broaden access to housing starts with:
  • Increasing the capacity of state HFAs to issue tax-exempt Housing Bonds, which directly lower mortgage interest rates for first-time home buyers and providers of affordable rental housing.
  • Expanding affordable mortgage financing and investments to support home buyers, home builders, and rental housing providers and operators through FHA, USDA, Fannie Mae, Freddie Mac, and the Federal Home Loan Banks.
  • Ensuring housing stability for low-income renters through adequate resources to support the long-term cultivation of market access for multifamily development financing, including stable and sufficient federal rental assistance.

Several of these priorities are reflected in bipartisan bills pending in Congress. NCSHA endorses:

• Affordable Housing Credit Improvement Act
• Affordable Housing Bond Enhancement Act
• Neighborhood Homes Investment Act
• HOME Investment Partnerships Reauthorization and Improvement Act
• HOME Reform Act
• ROAD to Housing Act

NCSHA may endorse additional legislation in the future.