Testimony, Comments, Correspondence
On March 12, 2021, NCSHA sent this letter to Treasury Secretary Janet Yellen outlining our policy recommendations for implementing the Homeowner Assistance Fund (HAF), included in the American Rescue Plan. In the letter, NCSHA makes three different types of suggestions 1) mission-critical items that must be included in whatever mechanism Treasury uses to disburse HAF funds to make the program operable; 2) issues that are necessary for Treasury to clarify or resolve for the programs to launch promptly; 3) steps Treasury can take when administering the program help ensure that assistance is delivered promptly and effectively.
On February 28, 2021, NCSHA provided these comments to the Federal Housing Finance Agency (FHFA) in response to its Advanced Notice of Proposed Rulemaking on Enterprise Housing Goals, urging FHFA to establish robust goals that push Fannie Mae and Freddie Mac (the Enterprises) to do as much responsible affordable lending as possible and to serve underserved markets better. In the letter, NCSHA also recommends that FHFA encourage the Enterprises to increase lending to people of color and address impediments to increased Enterprise support for HFA affordable housing lending.
NCSHA Letter to IRS, Treasury Urges Guidance on Implementing Minimum 4 Percent Rate, Disaster Housing Credits
In this February 26, 2021, letter, NCSHA urged the Internal Revenue Service and the U.S. Department of the Treasury to provide guidance on implementation of the minimum 4 percent Housing Credit rate and supplemental disaster Housing Credit authority, both enacted under the Consolidated Appropriations Act of 2021. The letter also urged revision of various IRS forms to facilitate reporting of both provisions.
On February 16, 2021, NCSHA sent this letter providing comments to the Federal Reserve System Board of Governors on its Notice of Proposed Rulemaking on Community Reinvestment Act regulations.
On February 8, 2021, more than 350 national and local organizations, including NCSHA, sent this letter to Congressional leaders urging them to provide $25 billion in direct assistance through the Homeowner Assistance Fund to homeowners hurt by the COVID-19 pandemic. The bulk of these funds would be deployed through state housing finance agencies.
This February 4, 2021, NCSHA letter to congressional leadership urges them to provide $25 billion in homeownership aid and an additional $25 billion in rental assistance in the COVID-19 relief package.
This January 25, 2021, letter details the recommendations NCSHA made to the Treasury Department for guidance related to the $25 billion Emergency Rental Assistance program.
On January 25, 2021, NCSHA submitted comments to the Internal Revenue Service on Form 8609 (Low Income Housing Credit Allocation and Certification). These comments suggest form revisions related to the minimum 4 percent Credit rate enacted in the Consolidated Appropriations Act of 2021, the ability of state agencies to notify IRS about carryover allocation or placed in service relief to projects, and other improvements to assist agencies in administration of the Housing Credit program.
On January 21, 2021, NCSHA joined a broad coalition of organizations representing the affordable housing industry in a letter to President Biden and the Departments of the Treasury, Housing and Urban Development, and Agriculture expressing unified support for the $25 billion Housing Assistance Fund to be included in the American Rescue Plan to help homeowners negatively impacted by COVID-19 pandemic.