Legislation & Legislation Proposals
Representative Mark Meadows (R-NC) introduced two bills that would expand the Opportunity Zone (OZ) tax incentive. H.R. 1851 would allow states and territories to designate new OZs, with the Treasury Department’s approval, every 10 years.
The letter below, from Senators Merkley (D-OR) and Menendez (D-NJ), requests support from the Senate Subcommittee on Transportation, Housing and Urban Development, and Related Agencies to provide $12.8 billion for Project-Based Rental Assistance in FY 2020, in order to fund the renewal of existing contracts for a full twelve-month term.
The letter below, from Representative Marcia Fudge, requests support from the House Subcommittee on Transportation, Housing and Urban Development, and Related Agencies to restore the HOME Investment Partnerships Program (HOME) with at least $1.5 billion for fiscal year (FY) 2020.
The HOME Dear Colleague Letter from Senators Christopher Coons (D-DE) and Dianne Feinstein (D-CA) expresses support for the HOME Investment Partnerships program in which its funding is eliminated in President Trump's Fiscal Year (FY) 2020 budget proposal. The letter is addressed to the leadership of the Committee on Appropriations Subcommittee on Transportation, Housing and Urban Development, and Related Agencies, Chairwoman Susan Collins and Ranking Member Jack Reed.
On March 15, Senators Dianne Feinstein (D-CA), John Cornyn (R-TX), Catherine Cortez Masto (D-NV), Jacky Rosen (D-NV), Kamala Harris (D-CA), and Mazie Hirono (D-HI) sent a letter to Internal Revenue Service (IRS) Commissioner Charles Retting pressing IRS to issue guidance clarifying that multifamily bond-financed affordable rental housing developments do not violate the general public use requirements of the bond program so long as they are consistent with the general public use requirements of the Housing Credit program.
Below are the NCSHA's key congressional committee rosters for the 116th Congress. For specific committee websites, see links below.
On February 1, 2019, Senate Banking Committee Chair Mike Crapo (R-ID) released an outline of his housing finance reform plan, which includes a securitization platform operated by Ginnie Mae and would replace the GSEs’ housing goals and duty to serve with a new Market Access Fund. The Market Access Fund, Housing Trust Fund, and Capital Magnet Fund would share the proceeds of a 10-basis point fee on annual loan volume guaranteed by the new system.
Representatives C.A. Dutch Ruppersberger (D-MD) and Steve Stivers (R-OH), the co-chairmen of the bipartisan Municipal Finance Caucus, are circulating a sign-on letter to House members in support of tax-exempt municipal bonds.
Senate Finance Committee member Dean Heller (R-NV) introduced the Seniors Affordable Housing Tax Credit Act, S. 3580, which would establish a tax credit for owners of multifamily rental property who agree to rent to extremely low-income seniors.