NCSHA Blogs
Mulvaney Pushes for CFPB Reforms During House, Senate Hearings
Consumer Financial Protection Bureau (CFPB) Acting Director Mick Mulvaney this week appeared before the House Financial Services Committee and the Senate Banking Committee to discuss the Bureau’s Semi-Annual Report to Congress.
NCSHA Recommends Improvements to IRS Housing Credit Disaster Relief Guidance
NCSHA sent comments to the IRS on how it can improve its Low Income Housing Tax Credit (Housing Credit) disaster relief guidance provided in Revenue Procedures 2014-49 and 2014-50. NCSHA’s letter is in response to IRS’s request for comments in Notice 2018-17, which also provided additional guidance on Housing Credit disaster relief specific to Puerto Rico’s recovery from Hurricane Maria.
President Signs Executive Order on Reducing Poverty by Promoting Opportunity and Economic Mobility
On April 10, President Trump signed an Executive Order titled “Reducing Poverty in America by Promoting Opportunity and Economic Mobility,” ordering several federal agencies, including HUD, to review their public assistance programs and propose new policies and regulations to enhance self-sufficiency and economic mobility.
Treasury, IRS Officially Designate Opportunity Zones for 18 States and Territories
The U.S. Department of the Treasury (Treasury) and Internal Revenue Service (IRS) formally designated Qualified Opportunity Zones (QOZ) in 15 states and three U.S. territories.
HUD Accepting Nominations for the Housing Counseling Federal Advisory Committee
The U.S. Department of Housing and Urban Development (HUD) earlier today published a notice in the Federal Register soliciting nominations for eight individuals to serve on the Housing Counseling Federal Advisory Committee (HCFAC).
NCSHA Develops Income Averaging Q&A
To assist Housing Credit allocating agencies and other program stakeholders navigate the implementation of the new Housing Credit income averaging option, NCSHA has developed an Income Averaging Q&A with answers to frequently asked questions about it.
Treasury Proposes Substantial Revisions to CRA Regulations
The U.S. Treasury Department yesterday released a memorandum to federal banking regulators—the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the Federal Reserve—recommending changes to their Community Reinvestment Act (CRA) regulations.
HUD Publishes Annual Report on Housing Credit Tenant Characteristics
HUD recently published Understanding Whom the LIHTC Program Serves: Data on Tenants in LIHTC Units as of December 31, 2015, providing demographic data about Housing Credit tenants, including race, ethnicity, family composition, age, income, use of rental assistance, disability status, and monthly rent burden.
HUD Promotes Strong Families Initiative
HUD is encouraging public housing authorities (PHA), HUD-assisted property owners, and others to participate in its Strong Families Initiative.
Freddie Mac Study Finds Significant Savings on Rent for Households in Housing Credit Units Compared to Market-Rate
Freddie Mac’s analysis illustrates the significant financial savings Housing Credit tenants are able to achieve compared to low-income households living in comparable market-rate rental housing.
