The U.S. Department of the Treasury, on December 8, 2021, published Frequently Asked Questions regarding the reporting requirements to which Homeowner Assistance Fund-administering agencies must adhere. View FAQs […]
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The U.S. Department of the Treasury, on December 8, 2021, published guidance for Homeowner Assistance Fund-administering agencies regarding the interim report they are required to submit to Treasury by February 28, 2022. View Document […]
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If you are a homeowner at risk of mortgage delinquency or default, foreclosure, loss of utilities or home energy services, or displacement as a result of financial hardship experienced after January 21, 2020, significant resources are and will become available. Among them is the federal Homeowner Assistance Fund: Find out about your state’s program here. […]
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This document provides background on the Housing Credit nonprofit right of first refusal (ROFR) and why challenges to the ROFR are disrupting the normal investor exit process, leading to legal disputes and litigation that drain nonprofit general partners’ resources and undermine the long-term affordability and viability of Housing Credit properties. View Factsheet View Dispute Impacts […]
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In this report prepared for NCSHA, Abt Associates examined states’ Emergency Rental Assistance spending rates and factors that have affected those rates. In July 2021, Abt interviewed ERA program staff from eight states selected to reflect programs that differed in several ways, including in geographic and population diversity, the sizes of the ERA1 allocations they […]
In this report prepared for NCSHA, Abt Associates presents an analysis of nine estimates of rental debt that were published at different times during the pandemic and compares those estimates to the congressional appropriations and allocations for the Emergency Rental Assistance Programs, ERA1 and ERA2. The two main goals of this review were to identify […]
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On December 2, 2021, NCSHA and 31 other Housing Credit stakeholder organizations sent this letter to the Internal Revenue Service and the U.S. Department of Treasury urging them to issue a finale rule on the Housing Credit Average Income Test (AIT) minimum set-aside considering the modifications outlined in the letter or to announce their intention […]
Read More… from Housing Credit Stakeholder Sign-On Letter to IRS, Treasury on Average Income Test
IRS Revenue Procedure 2021-43 provides safe harbors for determining whether an exempt facility bond issue that is issued after December 31, 2020, or an allocation of a housing credit dollar amount that is made after December 31, 2020, is more than de minimis for purposes of Holdings 2 and 3 of Rev. Rul. 2021-20. That […]
