NCSHA COVID-19 Blogs, News, and Resources
The most recent NCSHA blogs, news, resources, statements, and talking points for HFAs are available below. For a curated compilation of COVID-19 information, guidelines, and notices published by state HFAs, the Administration, HUD, and other federal agencies, please visit the 
COVID-19 Resources and Updates Center.
Federal Reserve, FHFA Provide More Liquidity to Ailing Markets
On Monday morning, March 23, the Federal Reserve announced a number of significant moves to provide liquidity to U.S. markets. The Federal Open Market Committee will purchase Treasury securities and agency mortgage-backed securities in the amounts needed to support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy.
ACTION Urges Congress to Act Now to Extend Housing Credit Deadlines, Set Minimum 4 Percent Rate in Response to COVID-19
On March 18, the ACTION Campaign, a coalition of more than 2,300 organizations and businesses across the nation co-chaired by NCSHA and Enterprise Community Partners, released a statement calling on Congress to extend, by one year, three key Housing Credit deadlines required under the statute. These deadlines will be difficult, if not impossible, for many properties to meet given the slowing pace of development due to the COVID-19 crisis.
ACTION Recommendations to Congress for Immediate Housing Credit Accommodations Related to COVID-19
The ACTION Campaign, which NCSHA co-chairs, released this statement calling on Congress to take immediate action to postpone certain Housing Credit deadlines to prevent developments from losing their tax credits due to the impact of COVID-19. The statement also urges Congress to establish a 4 percent minimum rate for bond-financed developments, as action by the Federal Reserve to reduce interest rates has driven the 4 percent credit rate to a historical low.
Message from Commissioner Montgomery Regarding COVID-19
A special March 17, 2020 address by Brian D. Montgomery, HUD Assistant Secretary for Housing and Federal Housing Commissioner, regarding COVID-19. "I’m reaching out at this extraordinary time, during the Coronavirus (COVID-19) outbreak, to ensure that FHA’s many stakeholders – including borrowers, lenders, property owners and agents, and business partners — understand the status of our operations and our plans as health and economic events unfold. and evolve."
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Annual Conference & Showcase 2020
Save the Dates! 2021 Conference & Showcase: September 26 – 28 | Detroit Add your name to our mailing list to receive updates. [newsletter heading="Stay Updated" text="Subscribe to...
IRS Revenue Procedure 2014-49
On April 10, the Internal Revenue Service published Notice 2020-23 providing additional relief for taxpayers affected by the coronavirus pandemic. The Notice provides that taxpayers have until July 15, 2020 to perform specified time-sensitive actions that are due to be performed on or after April 1, 2020, and before July 15, 2020.
IRS Revenue Procedure 2014-50
In the context of a Major Disaster, this revenue procedure provides temporary relief from certain requirements of § 142(d) of the Internal Revenue Code for Issuers and Operators. This revenue procedure also provides emergency housing relief for individuals who are displaced by a Major Disaster from their principal residences in certain Major Disaster Areas. This revenue procedure provides relief for both Bond Projects and Bond/LIHTC Projects. For Bond/LIHTC Projects, see also Rev. Proc.
