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NCSHA Blogs

Senate Finance Committee Extends 9 Percent Housing Credit Minimum Rate and Establishes 4 Percent Minimum Rate for Aquisition

On July 21, the Senate Finance Committee approved legislation extending for two years various tax provisions that expired at the end of 2014, including the minimum 9 percent Housing Credit rate. The legislation also would establish for the first time a minimum 4 percent Credit rate for acquisition. The minimum rates would apply retroactively to the start of 2015 and prospectively for allocations made before January 1, 2017. The minimum 4 percent rate would not apply to bond-financed developments.

HUD Publishes AFFH Final Rule and Revised Assessment Tool for Local Governments in Federal Register

On July 16, HUD published the Affirmatively Furthering Fair Housing (AFFH) final rule in the Federal Register. HUD published the AFFH final rule on its website on July 8, but the ruleā€™s official publication is the date on which it appears in the Federal Register. The rule replaces the current Analysis of Impediments requirement with a new Assessment of Fair Housing requirement for HUD participating jurisdictions.

House Passes the Private Investment in Housing Act of 2015

July 14, the House of Representatives passed The Private Investment in Housing Act of 2015, H.R. 2997, by a vote of 395-28. The bill would authorize a pay-for-success demonstration program that leverages private funding to improve the water and energy efficiency of HUD multifamily developments.

Finance Committee Tax Reform Working Group Does Not Recommend Changes to Housing Credit, Bonds

On July 8, Senate Finance Committee Chairman Orrin Hatch (R-UT) and Ranking Member Ron Wyden (D-OR) released reports from the five bipartisan working groups the Committee established earlier this year to develop policy options and recommendations for it to consider as part of comprehensive tax reform. The reports focused on individual income, business income, savings and investment, international taxes, and community development and infrastructure.

HUD Issues Affirmatively Furthering Fair Housing Final Rule

On July 8, HUD published its much-anticipated Affirmatively Furthering Fair Housing (AFFH) final rule, which replaces the current Analysis of Impediments (AI) requirement with a new Assessment of Fair Housing (AFH) requirement for HUD program participants. HUD originally issued the AFFH proposed rule in July, 2013 in response to criticism by the Government Accountability Office (GAO), program participants, and fair housing advocates who felt that the AI process was ineffective.

HUD Issues FAQs and Other Resources for Housing Trust Fund

On June 22, HUD published new background resources for the Housing Trust Fund (HTF) program, including a Frequently Asked Questions (FAQ) document, a summary of the interim rule, and a video on HUDā€™s YouTube channel providing an overview presentation of HTF.

Senate Appropriations Committee FY 2016 THUD Bill Virtually Eliminates HOME

Earlier today, the Senate Appropriations Committee voted 20 to 10 to pass the Fiscal Year (FY) 2016 Transportation, Housing and Urban Development, and Related Agencies funding bill. Appropriations Committee Ranking Member Barbara Mikulski (D-MD), and Senators Dianne Feinstein (D-CA), Brian Schatz (D-HI), and Tammy Baldwin (D-WI) joined the Republican members of the Committee to report the bill for consideration by the full Senate. Full Committee consideration of the measure followed the Subcommittee mark-up on June 23.

Supreme Court Upholds Disparate Impact Standard for Violations of the Fair Housing Act

In a 5-4 decision, the Supreme Court today issued its opinion ruling that disparate impact claims may be used to support plaintiffsā€™ claims of alleged Fair Housing Act (FHA) violations. Justice Kennedy wrote the Courtā€™s opinion, joined by Justices Ginsburg, Breyer, Sotomayor, and Kagan in the case of the Texas Department of Housing and Community Affairs (DHCA) v. Inclusive Communities Project, Inc. The decision remands the case to the Fifth Circuit Court of Appeals for further proceedings consistent with the Supreme Courtā€™s opinion.

Harvard’s Joint Center for Housing Studies Releases Annual Housing Report

Harvard's Joint Center for Housing Studies (JCHS) releases today its annual report entitled The State of the Nation's Housing 2015. This year's report highlights low homeownership rates and continuing renter housing cost burdens as areas of concern.

CFPB Announces Delay in Integrated Mortgage Disclosure Rule Effective Date

The Consumer Financial Protection Bureau (CFPB) announced yesterday that it will delay the effective date of its Integrated Mortgage Disclosure rule by two months.