Testimony, Comments, Correspondence
Below is NCSHA's preliminary analysis of President Trump's Fiscal Year (FY) 2020 budget proposal titled, “A Budget for a Better America; Promises Kept. Taxpayers First.” The Administration released the budget request earlier this week in two parts: the budget overview last week and then this week the budget appendix and related documents detailing program level funding and policy proposals.
For the Ways and Means' Infrastructure Hearing, the ACTION Campaign submitted a statement for the record arguing that the Housing Credit plays an important role in combating the affordable housing infrastructure deficit our nation faces.
Below is a letter regarding housing finance reform to Acting Federal Housing Finance Agency (FHFA) Director Otting, signed by twenty-eight housing stakeholders, emphasizing the vital role that Fannie Mae and Freddie Mac, the Government-Sponsored Enterprises (GSEs), play in the housing finance and mortgage market.
On February 14, 2019, during an Internal Revenue Service (IRS) public hearing on proposed Opportunity Zone regulations, Executive Director Stockton Williams urged IRS to implement regulations that strengthen the ability of Opportunity Zone tax incentives to expand and preserve affordable housing. In his testimony, Williams highlighted the importance of ensuring Opportunity Zone incentives can be put to work redeveloping vacant land in distressed communities, which represents a huge, largely untapped potential resource for affordable housing in many cities across the United States.
NABL Letter to IRS to Clarify Multifamily Bond Properties May Allow Preferences for Veterans, Other Groups
On December 20, 2018, the National Association of Bond Lawyers (NABL) sent a letter to senior White House, Treasury, and IRS officials asking for guidance clarifying that preferences for special populations, such as veterans, do not violate the public use requirements in regulations governing multifamily Housing Bonds.
On January 8, 2019, the Campaign for Housing and Community Development Funding (CHCDF) sent a letter to Senate Majority Leader Mitch McConnell, Senate Minority Leader Charles Schumer, Speaker of the House of Representatives Nancy Pelosi, and House Minority Leader Kevin McCarthy, urging congress to pass full year spending bills that provide strong funding for affordable housing and community development programs.
On December 28, NCSHA submitted official comments to the Internal Revenue Service (IRS) on proposed regulations implementing Opportunity Zone (OZ) provisions of Internal Revenue Code section 1400Z-2.
On November 2, 2018, NCSHA sent a letter to the Program Manager of the Division of Housing Mission and Goals of the Federal Housing Finance Agency (FHFA) responding to the their October 3rd Request for Input (RFI) on proposed modifications to Fannie Mae's Underserved Markets Plan (the Plan) for years 2018-2020. NCSHA thanks FHFA for continuing to involve the public and stakeholders in the Duty-to-Serve planning process.
On November 19, NCSHA sent a letter to the Office of the Comptroller of the Currency regarding their September 5 Advanced Notice of Proposed Rulemaking (ANPR), seeking public input on possible amendments to its Community Reinvestment Act (CRA) regulations.