NCSHA Blogs
NCSHA Releases 2024 Election Analysis
Donald Trump was again elected President Tuesday, Senate Republicans regained control of that chamber, and House Republicans appear likely to maintain a small majority, though too many races remain undecided to be certain.
NCSHA Lays Out Priorities for 2025 Tax Bill
On October 15, 2024, NCSHA submitted its recommendations for the large tax bill Congress is expected to consider next year in a letter to the House Ways and Means Republican “Community Development Tax Team.” The team, one of 10 established by Committee Chairman Jason Smith (R-MO), is tasked with studying tax legislative solutions related to affordable housing and community development, including how such solutions could be incorporated into legislation to extend tax cuts enacted in 2017 that are set to expire at the end of 2025.
NCSHA Unveils Housing Credit Model Compliance Forms
Today, the National Council of State Housing Agencies released new and updated model forms for state Housing Credit Agency use in Low Income Housing Tax Credit program compliance. The model compliance forms, which include an updated Tenant Income Certification and new Asset Self Certification, reflect modifications to income determination and asset certification rules under the Housing Opportunities Through Modernization Act (HOTMA) and have been adjusted for consistency with NCSHA’s most recent update to its Recommended Practices in Housing Credit Administration, released in late 2023.
Senators, House Members Introduce Legislation to Clarify Tax Status of GSEs, Optimize Their Investment in Rural Areas
Today, Senators Jerry Moran (R-KS), Mark Warner (D-VA), and Todd Young (R-IN) and Representatives Darin LaHood (R-IL) and Dan Kildee (D-MI) introduced bipartisan, bicameral legislation clarifying that the Government Sponsored Enterprises Fannie Mae and Freddie Mac are not tax-exempt controlled entities and thus may invest in multi-investor Housing Credit funds without negatively impacting the tax benefits available to all investors in those funds. Multi-investor Housing Credit funds are particularly critical for investments in smaller, rural areas; thus, GSE investment in those funds is consistent with Fannie’s and Freddie’s Duty to Serve.
House Appropriations Subcommittee Approves FY25 Transportation, Housing and Urban Development Funding Bill
On June 27, the House Appropriations Transportation, Housing and Urban Development, and Related Agencies Subcommittee marked up and approved the Fiscal Year 2025 Transportation, Housing and Urban Development, and Related Agencies Appropriations bill. The full House Appropriations Committee is scheduled to consider the bill July 10.
House Appropriations Subcommittee Approves FY25 Agriculture and Rural Housing Funding Bill
On Tuesday evening, the House Appropriations Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Subcommittee marked up and approved the Fiscal Year (FY) 2025 Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations bill. The full House Appropriations Committee plans to consider the bill July 10.
House Members Press Treasury, IRS to Issue Guidance on VAWA Protections in Housing Credit Properties
Today, a bipartisan group of 24 members of Congress, led by Representatives Gwen Moore (D-WI) and Claudia Tenney (R-NY), sent U.S. Treasury Department Secretary Janet Yellen and Internal Revenue...
HUD Releases Preview of Proposed HOME Investment Partnerships Program Rulemaking
On May 15, the U.S. Department of Housing and Urban Development’s Office of Community Planning and Development (CPD) released a preview of a proposed rule to be published soon in the Federal...
HUD’s 2024 Income Limits for Section 8, Tax Programs Include New Cap on Annual Increases
Today, the U.S. Department of Housing and Urban Development (HUD) published 2024 income limits for a variety of HUD housing programs, including public housing, project-based rental assistance, Housing Choice Vouchers, Section 202 housing for the elderly, and Section 811 housing for persons with disabilities; Multifamily Tax Subsidy Programs — specifically the Housing Credit and Multifamily Bond programs; and the Homeowner Assistance Fund.
