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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.

NCSHA Letter to Chairman Neal on Taxpayer Certainty and Disaster Relief Act of 2019

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).

NCSHA Letter on HUD Opportunity Zones Incentives

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.

NCSHA Comment Letter on Section 3 Proposed Rule

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 Comments on Treasury/IRS 2019-2020 Priority Guidance Plan

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.

NCSHA Urges Treasury to Define Opportunity Zone Data Collection Requirements

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 Comments on IRS Compliance Monitoring Regulations

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.

ACTION Statement on House Financial Services Infrastructure Hearing

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.