Newsroom
Senators Introduce Disaster Relief Bill
Earlier this month, Senate Finance Committee member Charles Schumer (D-NY), along with seven Democratic cosponsors, introduced the National Disaster Tax Relief Act of 2014. The Act is designed to provide financial relief to areas formally declared federal disaster areas in 2012 and 2013.
Senate Banking Committee Postpones Housing Finance Reform Bill Markup
Earlier today, Senate Banking Committee Chair Tim Johnson (D-SD) and Ranking Member Mike Crapo (R-ID) announced a delay in the Committee’s scheduled markup of the Housing Finance Reform and Taxpayer Protection Act of 2014, which Johnson and Crapo drafted and released last month. Johnson and Crapo said the Committee would recess the markup indefinitely to allow Committee members to work out additional issues. NCSHA previously summarized the Johnson-Crapo bill in this update.
NCSHA Submits Testimony in Support of FY 2015 Appropriations Priorities
NCSHA recently submitted testimony on HUD’s housing and USDA’s Rural Housing Service (RHS) programs in response to the House and Senate Appropriations Subcommittees’ invitation to submit outside witness testimony on FY 2015 appropriations.
Moody’s: State HFA Multifamily Bond Programs Continue Strong Performance
A report released last week by Moody’s Investors Service finds that state HFAs’ multifamily bond programs continued to perform strongly in 2013. The report, which analyzed 41 multifamily bond programs administered by 20 state HFAs (and the local HFA for Montgomery County in Maryland), credits HFAs for running bond programs with low delinquencies and increasing profitability.
Enterprise Publishes Paper on Housing Credit Properties in their Extended Use Periods
Enterprise Community Partners, Inc. recently published a paper, Preserving Housing Credit Investment: The State of Housing Credit Properties and Lessons Learned for the Extended Use Period, to address questions about the performance, capital improvement needs, and disposition of Housing Credit properties after the end of their initial 15-year compliance period. The report presents recent data
March Housing Scorecard Shows Mixed Signs of Progress
Earlier this month, the Obama Administration released the March Housing Scorecard, the latest installment in its monthly reviews of the nation's housing market. According to the report, the number of foreclosures has continued to decline, but the number of home sales has begun to stagnate as home prices stabilize.
Secretary Donovan Testifies on HUD’s FY 2015 Budget in House Appropriations Subcommittee Hearing
On April 10, the House Transportation-HUD (T-HUD) Appropriations Subcommittee held a hearing to examine HUD’s FY 2015 budget request. HUD Secretary Shaun Donovan was the sole witness.
House Passes FY 2015 Budget Resolution
On April 10, the House passed by a vote of 219 to 205 its FY 2015 Budget Resolution, H. Con. Res. 96. House Budget Committee Chairman Paul Ryan (R-WI) released his FY 2015 budget plan, The Path to Prosperity: FY 2015 Budget Resolution, on April 1 and the House Budget Committee reported the budget resolution on April 2. Senate Budget Committee Chairman Patty Murray (D-WA) has stated she will not introduce a budget resolution in the Senate this year.
House Appropriations Subcommittee Hearing Examines FY 2015 Budget Request for Rural Housing
On April 4, Rural Housing Service (RHS) Administrator Tony Hernandez testified on RHS’ FY 2015 budget request before the House Agriculture-Rural Development Appropriations Subcommittee. According to Hernandez’ written testimony, RHS is requesting in FY 2015 $1.22 billion in budget authority to support program levels of approximately $28 billion.
HUD Secretary Donovan Testifies on HUD Rental Assistance Programs
On April 2, HUD Secretary Shaun Donovan testified at a House Transportation-HUD Subcommittee oversight hearing on HUD’s Office of Public and Indian Housing programs. The hearing included discussion about the project-based Section 8, Housing Choice Voucher, Rental Assistance Demonstration, and housing counseling programs.
Senate Finance Committee Approves Extenders Bill That Includes 9% and 4% Housing Credit Rate Floors
On April 3, the Senate Finance Committee approved and reported legislation, the Expiring Provisions Improvement, Reform, and Efficiency (EXPIRE) Act, authored by Chairman Ron Wyden (D-OR) and Ranking Member Orrin Hatch (R-UT) to extend for two years many expiring tax provisions, including a provision extending the minimum 9 percent Housing Credit rate for allocations made before January 1, 2016.
Moody’s Report: Johnson-Crapo Provisions Would Benefit HFAs
On March 27, Moody’s Investors Service released a Sector Comment analyzing how state HFA programs would be impacted under draft housing finance reform legislation recently introduced by Senate Banking Committee Chairman Tim Johnson (D-SD) and Ranking Member Mike Crapo (R-ID). In its analysis, Moody’s concludes that the Johnson-Crapo draft contains several provisions favorable to HFAs and that, if enacted, the Johnson-Crapo draft would overall represent a credit positive for the agencies.
