Legislative and Policy Coordinator
IRS issued Revenue Procedure 2018-57, providing 2019 per capita and small state minimum volume cap amounts for the Low Income Housing Tax Credit (Housing Credit) and Private Activity Bonds (PAB).
Freddie Mac has published three additional white pages in its “Duty-to-Serve” series, designed to examine efforts to encourage housing affordability and increase rental and homeownership opportunities in underserved markets.
Freddie Mac has published two white papers, “LIHTC in Middle Appalachia” and “LIHTC in Indian Areas,” highlighting how the Housing Credit is being used to bring affordable rental housing to underserved markets.
On September 5, the House Financial Services Subcommittee on Housing and Insurance held a hearing on “The Cost of Regulation on Affordable Multifamily Development.”
On August 22, Senate Finance Committee Ranking Member Ron Wyden (D-OR) introduced the Middle Income Housing Tax Credit Act of 2018, S. 3365, which would create a new state-administered tax credit, modeled after the Low Income Housing Tax Credit (Housing Credit), to stimulate the development of rental housing for middle-income households earning up to 100 percent of area median gross income (AMGI).
On July 18, Senator Todd Young (R-IN) introduced S.3231, the Task Force on the Impact of Affordable Housing Crisis Act.
Children’s HealthWatch Study Finds Avoidable Health and Education Costs Incurred Due to Unstable Housing
Children’s HealthWatch, a nonpartisan network of pediatricians, public health researchers, children’s health and policy experts, finds that good health begins at home, not at a doctor’s office.
HUD Seeks Comments on Potential Changes to its Final Rule on Fair Housing Act Disparate Impact Standard
On June 20, the Department of Housing and Urban Development (HUD) published an advanced notice of proposed rulemaking (proposed rule) inviting comments on HUD’s 2013 Implementation of the Fair Housing Act’s Discriminatory Effects Standard final rule (disparate impact rule) as it seeks to determine what changes to the rule, if any, may be needed to reflect the outcome of the 2015 Supreme Court decision in Texas Department of Housing and Community Affairs v. Inclusive Communities Project, Inc.
On May 17, the congressional Joint Economic Committee (JEC) held a hearing to consider the potential positive impacts that Opportunity Zones tax incentives, enacted in the Tax Cuts and Jobs Act of 2017, could have for low-income communities.
A recent study issued by CohnReznick found Low Income Housing Tax Credit (Housing Credit) properties to be operating better than in any other period during the program’s history.