Legislation & Legislation Proposals

Section-by-Section Analysis of the Affordable Housing Bond Enhancement Act

The attached document provides a section-by-section description of the Affordable Housing Bond Enhancement Act, which was introduced June 6, 2023, by Senators Catherine Cortez Masto (D-NV) and Bill Cassidy (R-LA). The legislation would enact many of NCSHA’s long-standing priorities for strengthening the Mortgage Revenue Bond (MRB) and Mortgage Credit Certificate (MCC) programs. Notable changes include increasing the MRB home improvement loan limit, allowing MRBs to be used to fund refinancing loans, providing HFAs additional flexibility in how they utilize carryforward housing bond authority, and simplifying how a borrower’s MCC benefit is calculated.

The Affordable Housing Bond Enhancement Act

The Affordable Housing Bond Enhancement Act, introduced on June 6, 2023, by Senators Catherine Cortez Masto (D-NV) and Bill Cassidy (R-LA), enacts several of NCSHA’s long-standing priorities for strengthening the Mortgage Revenue Bond (MRB) and Mortgage Credit Certificate (MCC) programs. Notable changes include increasing the MRB home improvement loan limit, allowing MRBs to be used to fund refinancing loans, providing HFAs additional flexibility in how they utilize carryforward housing bond authority, and simplifying how a borrower’s MCC benefit is calculated.

NCSHA Analysis of Biden Administration’s FY 2024 Budget Request

This resource is NCSHA’s analysis of the Biden Administration’s Fiscal Year 2024 Budget Request. The $6.9 trillion budget outlines the Biden Administration’s fiscal priorities, including for U.S. Department of Housing and Urban Development and U.S. Department of Agriculture housing programs.

Affordable Housing Credit Improvement Act of 2021 (S. 1136/H.R. 2573): Cosponsorship List by State

This document tracks the members of Congress who have cosponsored the Affordable Housing Credit Improvement Act of 2021 to amend the Internal Revenue Code of 1986 to reform the Low Income Housing Tax Credit.

Congressional Sign-On Letter Supporting Action on Housing Credit Priorities in 2022 Lame Duck Session

This November 28, 2022, letter signed by 54 members of Congress urges House leadership to pass legislation by year’s end to restore the 12.5 percent Housing Credit allocation increase that expired at the end of 2021 and to lower the bond financing threshold from 50 to 25 percent.

Analysis: The Bipartisan Infrastructure Law — Implications for Affordable Housing

NCSHA commissioned UpLook Advisors to perform a high-level assessment of the 2021 Bipartisan Infrastructure Law’s implications for housing. The analysis highlights a number of new and existing...

Downpayment Toward Equity Act

The Downpayment Toward Equity Act, H.R. 4495, would establish a grant program for states and other eligible entities to be used for down payment assistance to first-generation home buyers. This version of the legislation was reported favorably by the Financial Services Committee on June 23, 2022, after being adopted as a substitute amendment.

Congressional Letter to Treasury and IRS on Average Income Test

This May 26, 2022, letter from Senators Michael Bennet (D-CO), Todd Young (R-IN), Rob Portman (R-OH), Ron Wyden (D-OR), and Mike Crapo (R-ID) and Representatives Suzan DelBene (D-WA), Jackie Walorski (R-IN), Donald Beyer (D-VA), and Richard Neal (D-MA) urges the Treasury Department and Internal Revenue Service to expedite release of the final rule on the Housing Credit Average Income Test in a manner that is workable and responsive to Housing Credit industry feedback.

Senate LIHTC Financing Enabling Long-term Investment in Neighborhood Excellence (LIFELINE) Act of 2022

This legislation, S.4181, introduced on May 11 by Senators Patrick Leahy (D-VT) and Susan Collins (R-ME), would allow state, local, territorial, and tribal governments to use Coronavirus State and Local Fiscal Recovery Funds to make long-term loans to Housing Credit developments.