This summary provides details from the “Neighborhood Homes Investment Act,” text of which was included in the Build Back Better Act that passed the House of Representatives on November 19, 2021. View Document Originally published on November 22. NCSHA will update this summary as events warrant. […]
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This November 19, 2021, letter sent by NCSHA and fellow steering committee members of the Campaign for Housing and Community Development Funding (CHCDF) urges Congress to enact fiscal year 2022 appropriations bills as soon as possible and outlines the devastating impacts on affordable housing and community development programs when multiple, or lengthy, continuing resolutions are […]
This document provides background on the Housing Credit qualified contract option and how this loophole in the law enables some owners to take properties out of the programs after just 15 years, rather than adhering to the otherwise statutorily required 30 years or more of affordability. View Document […]
This is a list of commonly used housing acronyms, compiled by NCSHA. Last updated November 2021 View Document […]
This letter, sent by NCSHA to the Treasury Department on November 16, 2021, urges Treasury to provide a blanket extension for Emergency Rental Assistance quarterly reports until such time as the department is able to streamline quarterly reporting requirements, provide grantees with technical assistance on reporting, and fix technical problems in Treasury’s ERA reporting portal. […]
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Internal Revenue Service Revenue Procedure 2021-45 provides the 2022 per capita and small-state minimum levels for the Low Income Housing Tax Credit (Housing Credit) and Private Activity Bonds (PABs). In 2022, states will receive the greater of $2.60 per capita or $2,975,000 in Housing Credit authority and the greater of $110 per capita or $335,115,000 […]
Read More… from IRS Revenue Procedure 2021-45: 2022 Housing Credit and Housing Bond Volume Caps
On November 10, 2021, the Campaign for Housing and Community Development Funding, of which NCSHA is a member, sent this letter to congressional leadership urging them to quickly enact the Build Back Better Act including its $154 billion in investments in critical housing and community development. View Document […]
Read More… from CHCDF Sign-On Letter to Congress Urging Enactment of the Build Back Better Act
Internal Revenue Service Revenue Procedure 2021-47 addresses the federal tax status and reporting requirements for assistance payments made to homeowners through the Homeowner Assistance Fund (HAF). The Revenue Procedure states that assistance payments made to homeowners under HAF are not considered gross income for federal tax purposes but instead qualify as disaster relief payments. Consequently, […]
On October 29, 2021, NCSHA sent this letter to the U.S. Department of Housing and Urban Development (HUD) to discuss the negative impact that the Federal Housing Administration proposed 40-year loan modification would have on the state HFA Mortgage Revenue Bond programs and request that HUD either exempt state HFAs from this requirement or permit […]
Read More… from NCSHA Letter to HUD on FHA Proposed 40-Year Loan Modification
