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Legislation & Legislation Proposals

The Moving Forward Act, H.R. 2, Fact Sheet

This factsheet provides an overview of The Moving Forward Act, H.R. 2, which House Democrats will soon release to address Americaā€™s infrastructure needs. The bill will include significant investments in affordable housing, along with investments in surface transportation, broadband, water infrastructure, clean energy, and other initiatives.

Wyden Press Release on Affordable Housing Priorities for Next COVID-19 Relief Package

Senate Finance Committee Ranking Member Ron Wyden (D-OR) today announced that he will press to include Housing Credit enhancements in the next coronavirus relief bill, including many of NCSHAā€™s priorities. Senator Wydenā€™s priorities for the next bill include suspending Housing Credit compliance requirements and deadlines for 12 months, as NCSHA has requested of IRS; setting a minimum 4 percent rate for bond-financed properties and other changes to augment equity in those deals; closing the Qualified Contract loophole; providing resources to help Housing Credit property owners if tenants are unable to pay their rents; allowing investors to begin receiving credits on time, even if properties are struggling with lease-up; and providing additional support to properties that serve extremely low-income households, including those who are formerly homeless, to cover the costs of services.

Senatorsā€™ May 14 Letter to Treasury and the Federal Reserve on Municipal Bonds

On May 14, 2020, a group of Senators wrote Treasury Secretary Mnuchin and Federal Reserve System Board Chair Powell to encourage them to take further action to stabilize the municipal bond market to ensure state and local governments have access to needed medium- and long-term financing.Ā 

House Congressional Sign-On Letter in Support of Assistance for Homeowners

On May 6, 2020, 32 House members, led by Representative David Scott (D-GA), sent this letter to House Speaker Nancy Pelosi (D-CA) and Minority Leader Kevin McCarthy (R-CA) in support of $75 billion for assistance to help homeowners to prevent foreclosures, defaults, and loss of utilities.Ā 

Representatives Stivers, Ruppersberger, Others Encourage Treasury and Federal Reserve to Support Municipal Bonds

On May 1, Representatives Steve Stivers (R-OH), C.A. ā€œDutchā€ Ruppersberger (D-MD), and 41 colleagues from both parties sent Treasury Secretary Steven Mnuchin and Federal Reserve Board Chairman Jerome Powell this letter calling on them to use authority and funding provided in the Coronavirus Aid, Relief, and Economic Security (CARES) Act to support the municipal secondary market and fully re-open the primary municipal market.

House ā€œDear Colleagueā€ Letter Supporting Housing Assistance Fund

Representative David Scott (D-GA) has circulated this Dear Colleague letter to House members urging them to join him on a letter to House Speaker Nancy Pelosi (D-CA) and Minority Leader Kevin McCarthy (R-CA) asking for the establishment of a $75 billion Housing Assistance Fund in the next coronavirus relief legislation.Ā The deadline to sign is close of business on Tuesday, May 5.Ā 

House Housing Credit Championsā€™ Letter to Leadership on Program Needs During COVID-19 Pandemic

On April 16, Representatives Suzan DelBene (D-WA), Kenny Marchant (R-TX), Donald Beyer (D-VA), and Jackie Walorski (R-IN), the four lead sponsors of the Affordable Housing Credit Improvement Act (H.R. 3077) sent House Speaker Nancy Pelosi (D-CA) and Minority Leader Kevin McCarthy (R-CA) this letter urging them to enact a minimum 4 percent Housing Credit rate and consider lowering the ā€œ50 percent testā€ for multifamily Housing Bond-financed properties in the next COVID-19 response package.

Letter from Ways and Means Chairman Neal and Representative DelBene to Treasury Secretary Mnuchin on Housing Credit Regulatory Flexibility During COVID-19 Crisis

House Ways and Means Chairman Richard Neal (D-MA) and Representative Suzan DelBene (D-WA) sent Treasury Secretary Steven Mnuchin this letter in support of regulatory relief for the Housing Credit program needed during the COVID-19 crisis.

Summary of Opportunity Zone Reporting and Reform Act of 2019

This summary provides a comprehensive overview of the legislation to amend the Internal Revenue Code of 1986 to require reporting for Qualified Opportunity Funds, to make modifications to Opportunity Zones, and for other purposes.