• November 16, 2017
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    The Federal Housing Finance Agency (FHFA) today announced that it will permit the Government-Sponsored Enterprises (GSEs), Fannie Mae and Freddie Mac, to resume equity investments in the Low Income Housing Tax Credit (Housing Credit) market, with some limitations, effective immediately. The GSEs each will be able to invest up to $500 million annually in the Housing Credit; however, annual investments above $300 million must be made in markets identified by FHFA as having difficulty attracting investors.

  • November 16, 2017
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    The House of Representatives this afternoon passed its tax reform legislation, the Tax Cuts and Jobs Act, H.R. 1, which eliminates the tax exemption for private activity bonds, including Housing Bonds. The final vote was 227 to 205, with two Democrats absent. Thirteen Republicans voted against the bill along with all of the Democrats casting a vote.

  • November 15, 2017
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    Late last night, Senate Finance Committee Chairman Orrin Hatch (R-UT) released his Modified Chairman's Mark—the new version of the Senate tax reform legislation from which the Committee will work as it completes its mark-up this week. The Modified Chairman's Mark, like the previous version of the legislation, preserves the Low Income Housing Tax Credit and tax-exempt private activity bonds (PABs).

  • November 13, 2017
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    The Senate Finance Committee today began its mark-up of Chairman Orrin Hatch's (R-UT) tax reform legislation, called the Chairman’s Mark, this afternoon. Today's Committee mark-up, which began this afternoon at 3:00 p.m., has been devoted to opening statements by the 26 Committee members. As we reported last week, the Chairman's Mark preserves tax-exempt private activity bonds, including single-family and multifamily Housing Bonds, and makes no changes to the Low Income Housing Tax Credit.

  • November 13, 2017
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    On November 9, the House Ways and Means Committee completed its mark-up of Chairman Brady's (R-TX) tax reform bill, the Tax Cuts and Jobs Act, H.R. 1, and reported the bill to the full House, which is expected to consider the bill this Thursday, November 16. The Committee did not adopt any amendments that would have changed the bill’s elimination of tax-exempt private activity bonds (PAB) or that would have modified the Low Income Housing Tax Credit statute, which the underlying bill also did not change.

  • November 9, 2017
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    The Senate Finance Committee just released its conceptual Chairman’s Mark, its version of tax reform legislation. In a major victory for NCSHA, it preserves both tax-exempt private activity bonds, including single-family and multifamily Housing Bonds, as well as the Low Income Housing Tax Credit.

  • November 6, 2017
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    House Republican leaders on November 2 released their tax reform bill, the Tax Cuts and Jobs Act, H.R. 1, in advance of a Committee mark-up scheduled to begin November 6 at 12:00 p.m. The bill eliminates tax-exempt private activity bonds (PABs), including both multifamily and single-family Housing Bonds, for bonds issued after 2017. In addition to eliminating tax-exempt PABs, the bill repeals the related Mortgage Credit Certificate (MCC) program.

  • October 26, 2017
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    The Senate Banking Committee today held a hearing to consider President Trump’s nomination of Brian Montgomery to be Commissioner of the Federal Housing Administration (FHA) and HUD Assistant Secretary for Housing.

  • October 26, 2017
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    Earlier today, by a margin of 216 to 212, the House of Representatives approved the Fiscal Year (FY) 2018 Budget Resolution, as passed by the Senate on October 19. By adopting the Senate’s Budget Resolution, the House avoided the need for a conference committee to work out differences between the House- and Senate-passed versions of the Budget Resolution.

  • October 24, 2017
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    At a recent House Financial Services Committee oversight hearing, HUD Secretary Ben Carson outlined his new “FORWARD” Initiative; responded to a series of questions about the Federal Housing Administration, HUD’s Fiscal Year (FY) 2018 Budget, and the agency’s disaster relief efforts; and repeated statements he has made in the past supporting the Housing Credit.