NCSHA Blogs
AHTCC Accepting Nominations for Housing Credit Excellence Awards
The Affordable Housing Tax Credit Coalition (AHTCC) is accepting entries and nominations for the 22nd Annual Charles L. Edson Tax Credit Excellence Awards. The awards honor the best in affordable rental housing development. Each winner and honorable mention will be recognized at an awards ceremony in Washington, DC in June.
IRS Issues Housing Credit Utility Allowance Submetering Regulations
On March 3, the Internal Revenue Service (IRS) published in the Federal Register combined final regulations amending the Housing Credit utility allowance rules to provide greater clarity for Housing Credit properties that submeter to account for actual tenant energy consumption, and temporary regulations for properties in which an owner acquires energy directly from renewable sources, rather than from a utility company.
Ways and Means Chairman Brady Issues Tax Reform Mission Statement for Pro-Growth Policy Agenda
House Ways and Means Committee Chairman Kevin Brady (R-TX), who has been tasked by Speaker of the House Paul Ryan (R-WI) with leading a task force on tax reform, on March 2 released a mission statement, set of principles, policy reforms, and desired outcomes for the task force. The tax reform task force is one of six task forces Ryan has established and charged with developing a Republican pro-growth agenda to be presented to the country in the months ahead.
ACTION Campaign Circulates Sign-On Letter Urging Congress to Raise the Cap on Housing Credit Authority
The A Call To Invest in Our Neighborhoods (ACTION) Campaign, which NCSHA co-chairs with Enterprise Community Partners, is circulating a national sign-on letter calling on Congress to address the nation’s severe shortage of affordable rental housing by increasing Housing Credit authority by at least 50 percent.
Representatives Hultgren and Ruppersberger Launch Municipal Finance Caucus
On March 1, Representatives Randy Hultgren (R-IL) and Dutch Ruppersberger (D-MD) announced the establishment of a new, bipartisan caucus, which will serve as an advocacy and discussion forum for House members who are supporters of municipal bonds.
IRS Issues Housing Credit Compliance Monitoring Regulations
On February 23, the Internal Revenue Service (IRS) issued regulations amending the Low Income Housing Tax Credit (Housing Credit) compliance monitoring requirements to revise and clarify physical inspection and certification review rules. In conjunction with the new regulations, IRS published Revenue Procedure 2016-15, which further explains the implementation of the new regulations. The compliance monitoring regulations will be effective upon formal publication in the Federal Register on February 25.
Treasury Announces Process for Awarding Additional Hardest Hit Funding
Earlier today, the U.S. Department of Treasury announced how it will award the additional $2 billion in Hardest Hit Fund (HHF) program funding Congress recently appropriated in the Consolidated Appropriations Act for FY 2016. As Congress directed, eligibility for the new funds is restricted to the 19 states Treasury previously selected for HHF. Treasury’s announcement includes a list of the HHF states receiving additional amounts and the amounts they will receive.
National Housing Conference Report Finds Housing Cost Burdens Remain Widespread among Working Households
The National Housing Conference’s (NHC) Center for Housing Policy released its Housing Landscape 2016 Report February 18. The report uses the latest American Community Survey data to evaluate severe housing cost burdens of low and moderate income working households, defined as households in which members work at least 20 hours a week on average and total household income does not exceed 120 percent of area median income. The report finds extensive housing cost burdens among working households, especially renter households.
Watt: GSEs Face Future Challenges Under Conservatorship
In a keynote address delivered at the Bipartisan Policy Center yesterday, Federal Housing Finance Agency (FHFA) Director Mel Watt warned that Fannie Mae and Freddie Mac (the GSEs) will face increasing challenges and risks if they remain in conservatorship in the coming years. The only way to address these challenges, Watt suggested, is for Congress to advance a plan to reform the GSEs and the housing finance system.
The Bollinger Foundation Accepting Scholarship Grant Nominations
Earlier this week, The Bollinger Foundation announced it is accepting nominations for scholarship grant awards for children of at least one deceased parent. The Foundation awards scholarship grants annually to families in which the deceased parent worked or surviving parent continues to work in the field of public housing, affordable housing, community development, or economic development.
