Testimony, Comments, Correspondence
NCSHA Comment Letter to IRS on Second Round of Proposed Regulations Implementing Opportunity Zone Tax Incentive
On July 1, 2019, NCSHA submitted comments to the Internal Revenue Service regarding the second tranche of IRS regulations related to implementation of the Opportunity Zone tax incentive.
On June 20, NCSHA sent a letter to House Ways and Mean Committee Chairman Richard Neal regarding H.R. 3301, Taxpayer Certainty and Disaster Relief Act of 2019, which provides additional resources to help California communities rebuild affordable housing destroyed by recent wildfires through additional Low Income Housing Tax Credits (Housing Credits).
On June 17, NCSHA submitted recommendations to HUD Secretary Ben Carson for how HUD can use its existing authorities to promote public and private investments in affordable housing and community development activities in Opportunity Zones (OZ) and other economically distressed areas.
ACTION Comments on Tax Extenders to Senate Finance Committee’s Employment and Community Development Task Force
The A Call to Invest in Our Neighborhoods (ACTION) Campaign submitted comments to the Senate Finance Committee regarding their Task Force on Employment and Community Development, as it considers how to address expiring tax provisions under its jurisdiction.
On May 31, NCSHA submitted comments to the Department of Housing and Urban Development regarding its proposed rule on Enhancing and Streamlining the Implementation of Section 3 Requirements for Creating Opportunities for Low- and Very Low-Income Persons and Eligible Businesses.
NCSHA sent this letter to the U.S. Department of the Treasury and Internal Revenue Service making recommendations for items the agencies should include in their 2019–2020 Priority Guidance Plan, including policy issues impacting both the Low Income Housing Tax Credit and Housing Bonds.
On May 31, NCSHA submitted official comments in response to the U.S. Department of the Treasury’s request for information on data collection and tracking for Qualified Opportunity Funds. In our comments, we urged Treasury to collect project-level data for each Opportunity Zone investment including the dollar amount of capital invested, geographic location, existing use prior to investment, primary purpose of investment, and number of jobs created.
NCSHA sent this letter to the Internal Revenue Service regarding the recently enacted amendments to the Housing Credit compliance monitoring regulations. The letter urges IRS to rescind the new regulations and work with NCSHA and its members to develop a workable alternative.
On April 30, the House Financial Services held a hearing on “Housing in America: Assessing the Infrastructure Needs of America’s Housing Stock.” The A Call To Invest in Our Neighborhoods (ACTION) Campaign posted a statement in response to the hearing.