Federal Regulations & Notices
This memorandum revises and extends certain statutory suspensions and regulatory waivers outlined in the April 2020 memo through September 30, 2021 (the “extended wavier period”). It also adds a new statutory suspension and new regulatory waivers to enable HOME participating jurisdictions affected by the COVID-19 pandemic to use HOME funds to address immediate housing needs and to help prevent the spread of the virus. [Note: HUD separately published HOME COVID-19 guidance related to TBRA.]
National Sign-On Letter Supporting NCSHA Recommendations to IRS on Housing Credit COVID-19 Regulatory Relief
This letter, signed by 140 organizations from across the nation, urges IRS to enact Housing Credit COVID-19 regulatory relief requested by NCSHA in its November 16, 2020, letter to the IRS and Treasury.
This document provides answers to frequently asked questions about HUD’s Real Estate Assessment Center (REAC) inspections for public and multifamily housing properties during the COVID-19 pandemic.
IRS Revenue Procedure 2020-49: Telephonic Public Hearings Extension for Tax-Exempt Qualified Private Activity Bonds
IRS Rev. Proc. 2020-49 extends the period during which remote telephonic hearings meet the public approval requirement for tax-exempt qualified private activity bonds from December 31, 2020, to September 30, 2021.
This proposed rule from the Internal Revenue Service would modify the existing Housing Credit regulation at Section 1.42-15 on the Next Available Unit Rule to account for the Average Income Test and create a new regulation at Section 1.42-19 for the Average Income Test minimum set-aside.
IRS Rev. Proc. 2020-45 provides the 2021 per capita and small state minimum levels for the Low Income Housing Tax Credit (Housing Credit) and Private Activity Bonds (PABs). In 2021, states will receive the greater of $2.81 per capita or $3,245,625 in Housing Credit authority and the greater of $110 per capita or $324,995,000 in PAB volume cap.
Advance Notice of Proposed Rulemaking: Federal Reserve System Community Reinvestment Act Regulations
On October 19, 2020, the Board of Governors of the Federal Reserve System issued this Advance Notice of Proposed Rulemaking to solicit public comments regarding modernizing the Fed’s Community Reinvestment Act regulatory and supervisory framework. Comments are due by February 16, 2021.
This document provides answers to frequently asked questions about the CDC’s temporary eviction moratorium for qualifying renters, adopted on September 4, 2020, and expiring on December 31, 2020.
On October 8, 2020, the U.S. Department of Housing and Urban Development published this proposed rule to implement changes affecting the Housing Choice Voucher tenant-based and Project-Based Voucher programs as authorized by the Housing Opportunity Through Modernization Act of 2016 (HOTMA) and additional regulatory changes intended to reduce the administrative burden on public housing agencies.