- October 26, 2016
For calendar year 2017, the state Housing Credit ceiling will be the greater of $2.35 multiplied by the state’s population or $2,710,000. While the multiplier remained at the same level as in 2016, the minimum increased slightly from its 2016 level of $2,690,000.
- October 18, 2016
HUD issued a notice in the Federal Register October 4 requesting public comments on a proposed requirement for owners of HUD-funded multifamily housing to implement energy benchmarking in their properties, consistent with the President’s Climate Action Plan and other Administration and HUD initiatives to improve energy efficiency in HUD-assisted properties.
- October 17, 2016
The Municipal Securities Rulemaking Board (MSRB) filed a regulatory notice last week seeking public comment on how it should focus it regulatory and educational efforts in the coming years. MSRB filed the notice to collect input on its biennial strategic planning process, which is set to begin in January. MSRB is also seeking input on how it can improve its Electronic Municipal Market Access (EMMA®) website.
- October 3, 2016
On September 28 — just two days before the government would be forced to shut down for lack of funding — Congress approved a short-term continuing resolution (CR) to fund the federal government through December 9. The CR will fund all federal agencies at Fiscal Year (FY) 2016 levels with a 0.5 percent reduction to stay within the spending limits imposed by the budget agreement Congress reached last year, which applied to FY 2016 and FY 2017 spending.
- October 3, 2016
On September 22, Senate Finance Committee Ranking Member Ron Wyden (D-OR) introduced S. 3384, the Middle Income Housing Tax Credit Act of 2016 after circulating a discussion draft of the legislation earlier that day. The bill as introduced is identical to the discussion draft, which NCSHA described in our September 22 blog post. NCSHA has not taken a position on the legislation.
- September 29, 2016
Earlier this week, a bipartisan group of Senators introduced legislation (S. 3404) that would allow large banks to count some of their municipal bond investments as high-quality liquid assets under federal bank liquidity standards. The bill is sponsored by Senator Mike Rounds (R-SD), who introduced it with Senators Mark Warner (D-VA) and Chuck Schumer (D-NY). All three are members of the Senate Banking Committee. Other cosponsors include Jon Tester (D-MT), Mark Kirk (R-IL), Heidi Heitkamp (D-ND), Tim Scott (R-SC), Joe Donnelly (D-IN), Jerry Moran (R-KS), and David Vitter (R-LA). NCSHA joined several organizations, including the National Governors Association, Government Finance Officers Association, and National Association of State Auditors, Comptrollers and Treasurers, to co-sponsor this bill.
- September 29, 2016HUD Issues Proposed State Fair Housing Assessment Tool; Announces Fair Housing Pilot Program in Collaboration with NCSHA
NCSHA is currently evaluating the state assessment tool and will submit comments by HUD’s October 28 deadline. HFAs should provide feedback to NCSHA’s Jennifer Schwartz by Friday, October 14 to inform NCSHA’s comments.
- September 29, 2016
Earlier this week, the Federal Housing Administration (FHA) released a proposed rule that would revise the requirements that condominium projects must meet for their single-family units to be eligible for FHA mortgage insurance. The proposal contains several provisions that could allow FHA to insure more condominium mortgages.
- September 23, 2016
On September 22, the Senate Banking Subcommittee on Housing, Transportation, and Community Development held a hearing titled "Oversight of the HUD Inspection Process" to highlight concerns with HUD's monitoring of project-based rental assistance (PBRA) properties in the wake of federal and local investigation of three properties in Florida managed by Global Ministries Foundation.
- September 22, 2016
On September 22, Senate Finance Committee Ranking Member Ron Wyden (D-OR) released a discussion draft of legislation that would create a new tax credit program to stimulate the development of rental housing for middle-income households earning up to 100 percent of area median income (AMI).