NCSHA congratulates Senator Maria Cantwell (D-WA) and Senate Finance Committee Chairman Orrin Hatch (R-UT) on the introduction of the Affordable Housing Credit Improvement Act of 2017, S. 548.
Yesterday, the U.S. Government Accountability Office (GAO) released the third in a series of four reports on the Low Income Housing Tax Credit, Low Income Housing Tax Credit: The Role of Syndicators. The report is descriptive in nature, providing information on the characteristics of syndicators, their activity in the market between 2005 and 2014, the role they play in the industry, and factors that influence their use. The report does not include any recommendations for action.
Earlier this morning, the U.S. Senate confirmed Dr. Ben Carson’s nomination to be Secretary of HUD by a vote of 58 to 41. The Senate Banking Committee on January 24 voted unanimously to favorably report Carson’s nomination to the Senate.
NCSHA congratulates Dr. Ben Carson on his confirmation as Secretary of the United States Department of Housing and Urban Development (HUD).
NCSHA commends the Public Broadcasting Service’s (PBS) Frontline for attempting in its May 9 broadcast to shine light on the affordable rental housing crisis and our country’s response.
The White House Office of Management and Budget (OMB) sent federal agencies February 27 a preliminary FY 2018 budget framework, identifying its top-line funding amounts for the agencies and asking them for feedback within a few days on how they will achieve these targets. OMB officials said the budget framework identifies a $54 billion increase in defense and security spending and suggests the Administration intends to fully offset this amount with nondefense program funding cuts.
The U.S. Department of Housing and Urban Development (HUD), in a partnership with the National Environmental Health Association (NEHA), has announced it is accepting entries for the Secretary’s Award for Healthy Homes 2017. The Award is designed to recognize organizations “making indoor environments healthier through healthy homes research, education, and through program delivery, especially in diverse, low to moderate income communities.”
The United States Senate last night voted to confirm the nomination of investment banker Steve Mnuchin to serve as Secretary of the Treasury. Mnuchin was confirmed on a mostly party-line vote of 53-47. Mnuchin was sworn in shortly afterward.
NCSHA Urges Treasury and IRS Not to Set Federal, One-Size-Fits-All Definition of Concerted Community Revitalization Plans
On February 10, NCSHA submitted comments to Treasury and IRS in response to Notice 2016-77 regarding whether Treasury and IRS should issue guidance clarifying the Low Income Housing Tax Credit (Housing Credit) statute's required preference for projects located in a Qualified Census Tract (QCT) that are subject to a concerted community revitalization plan.
Earlier today, the Federal Housing Finance Agency (FHFA) announced that it would extend the comment period for public input regarding Fannie Mae and Freddie Mac pilot initiatives that promote financing for manufactured housing loans titled as personal property, or chattel loans. The extension moves the deadline for public input from February 17, 2017 to March 21, 2017.
On Friday, February 3, President Trump signed an Executive Order directing the Secretary of Treasury to review all current federal regulations pertaining to the nation's financial system. The Order also outlines six principles that the Administration will use when reviewing and shaping its financial policy.
The Federal Housing Finance Agency (FHFA) last week published a request for public input on possible Fannie Mae and Freddie Mac pilot programs that support financing for manufactured housing loan titled as real property, known as chattel loans. This request is being issued as part of FHFA’s implementation of its Enterprise Duty to Serve Rule.