On January 6, 2025, the U.S. Department of Housing and Urban Development finalized updates to the HOME Investment Partnerships program regulations, aiming to streamline requirements, align them with other federal housing programs, and incorporate recent statutory amendments. The rule, which follows a proposed version published on May 29, 2024, also adjusts Community Development Block Grant […]
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On December 12, 2024, the U.S. Department of Treasury published the blog post, “Housing Crisis in Focus: LIHTC Best Practices to Discourage Qualified Contracts and Keep Housing Affordable for Longer.” The post highlights state Housing Credit agency best practices to discourage the use of qualified contracts as a means of removing the affordability restrictions from […]
These FAQs provide guidance regarding the Emergency Rental Assistance program enacted in the Consolidated Appropriations Act of 2021. On December 4, 2024, Treasury updated the FAQs to further clarify grantees’ responsibilities related to improper payments and outline certain flexibilities grantees have in cases where improper payments were not the result of fraud or deliberate misrepresentations […]
All state Housing Credit agencies require Housing Credit development owners and managers to use specific forms in their compliance reporting. The National Council of State Housing Agencies, in collaboration with our members and stakeholders, developed the 2024 Model Compliance Forms for Housing Credit Developments for agencies to provide to development owners, managers, and other Housing […]
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High housing costs have become a painful reality for millions of Americans in recent years, imposing difficult financial hardships and fueling persistent inflation. The challenges facing lower-income renters, aspiring first-time home buyers, and cash-strapped owners of older homes are different — but they all reflect the same underlying fact: Almost anywhere you look, America has […]
Read More… from State Housing Finance Agencies: At the Center of the Affordable Housing System
Revenue Procedure 2024-41 (published in Internal Revenue Bulletin 2024-47) provides the Housing Credit National Pool amounts for qualified states for calendar year 2024. Twenty-nine states received unused Housing Credit carryovers from the National Pool. View Revenue Procedure 2024-41 […]
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NCSHA offers this analysis of the 2024 election results. November 14 Supplemental Analysis November 6 Analysis […]
On October 28, 2024, NCSHA submitted comments in response to the Federal Housing Finance Agency’s proposed affordable housing goals for Fannie Mae and Freddie Mac for 2025 – 2027. NCSHA expressed support for FHFA’s proposal to maintain strong single-family goals with added flexibility and urged the agency to increase the multifamily goal for homes affordable […]
On October 15, 2024, NCSHA joined other mortgage lending associations and consumer advocates on a letter to the House Ways and Means Committee Republican Community Development Tax Team urging them to reinstate and expand the federal tax deduction for mortgage insurance premiums. View Letter […]
