Resources
NCSHA Comment Letter to Ways and Means Community Development Tax Team
On October 15, 2024, NCSHA submitted this letter to the House Ways and Means Committee’s Republican Community Development Tax Team outlining NCSHA’s tax policy priorities for inclusion in legislation anticipated in the 119th Congress to address provisions of the Tax Cuts and Jobs Act of 2017 expiring at the end of 2025.
NCSHA Joins Letter in Support of HUD Multifamily Notice on Qualified Contract Loophole
NCSHA and several other leading affordable housing groups signed a letter to HUD providing feedback on a recently posted Housing Notice regarding the Qualified Contract loophole in the Low-Income Housing Tax Credit program
NCSHA Comments to HUD on Proposal to Mitigate Qualified Contract Loss for Properties Seeking FHA Multifamily Rental and Risk Share Insurance
NCSHA sent a letter to Federal Housing Commissioner Julia Gordon expressing support for the proposal that requires developers applying for new allocations of Low Income Housing Tax Credit authority to waive the qualified contract option for their properties as a condition for participating in the Federal Housing Administration (FHA) Multifamily Rental and Risk Share insurance programs.
NCSHA Comments to HUD on the Applicability of Buy America Requirements for FY 2024 HOME and HTF Grants
NCSHA sent a letter to the U.S. Department of Housing and Urban Development (HUD) regarding the delayed FY24 award agreements for HOME Investment Partnerships (HOME) and Housing Trust Fund (HTF) programs requesting HOME and HTF funding to be exempted from the "Buy America" Provision (BAP) requirements due to the delay in finalizing grant agreements for these programs in the current fiscal year.
NCSHA Comments to FHFA on Application Process for Federal Home Loan Banks’ Affordable Housing Programs
On August 19, 2024, NCSHA submitted the attached letter in response to the Federal Housing Finance Agency’s (FHFA) Request for Input on potential changes to the application process for the Federal Home Loan Banks’ (FHLBs) Affordable Housing Programs (AHP). The letter recommends that each FHLB consult with HFAs and other bank members when setting the timeline and other policies for its AHP application process so as to maximize the potential for AHP fund to be used in conjunction with financing from the Housing Credit and other federal and state housing programs.
NCSHA Comments to FHFA on GSE Duty to Serve Plans for 2025-2027
On August 12, 2024, NCSHA submitted the attached letter responding to the Federal Housing Finance Agency’s (FHFA) June 11 Request for Input (RFI) on the government-sponsored enterprises (GSEs) Fannie Mae’s and Freddie Mac’s Underserved Markets Plans for years 2025-2027. The letter encourages FHFA and the GSEs to continue to explore potential partnerships with HFAs to meet their Duty to Serve obligations. The letter advances several specific suggestions for potential GSE-HFA collaborations, including expanded activity in the Credit market, funding and equity for preserving affordable housing properties financed through the U.S. Department of Agriculture’s (USDA) Section 514 and 515 programs, promoting rural homeownership, and affordable home improvement financing.
Preserving Rural Investments Act
This legislation would amend the tax code to clarify that Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac are not tax-exempt controlled entities (TECEs) and, thus, are eligible for tax benefits that are not available to TECEs. This would allow Fannie Mae and Freddie Mac to invest in multi-investor Housing Credit funds without jeopardizing those benefits for other investors in the funds.
Press Release: Sen. Moran, Sen. Warner, Sen. Young, Rep. LaHood & Rep. Kildee Introduce Legislation to Increase Rural Housing Investment
U.S. Senators Jerry Moran (R-Kan.) Mark Warner (D-Va.)and Todd Young (R.-Ind) and U.S. Representatives Darin LaHood (IL-16) and Dan Kildee (MI-08) introduced legislation on August 1, 2024, to amend the Internal Revenue Code to clarify that Government Sponsored Enterprises (GSEs) Fannie Mae and Freddie Mac are able to participate in partnerships that are crucial for low-income housing investments.
HOME Coalition Comments on HUD HOME Investment Partnerships Program: Program Updates and Streamlining Proposed Rule
The HOME Coalition, led by NCSHA, sent a letter to the US Department of Housing and Urban Development on the proposed rule, HOME Investment Partnerships Program: Program Updates and Streamlining.
