Resources
Workforce Housing Tax Credit Act
This legislation would enact a Middle-Income Housing Tax Credit to incentivize private-sector investment in rental housing for households earning between 60 and 100 percent of area median income. The...
Protected: December 7 | Members-Only Webinar: Recent IRS Housing Credit Form Revisions
December 7, 2023 webinar with IRS to discuss recent changes to IRS Form 8823 (Low Income Housing Credit Report of Noncompliance), including barcode scanning capability and plans for electronic transmission in 2024.
NCSHA Letter to Treasury, HUD, DOJ, and IRS on VAWA Enforcement Guidance
On December 6, 2023, NCSHA sent this letter to the Secretaries of Treasury and HUD, the Attorney General, and the IRS Commissioner urging them to enter into a Memorandum of Understanding to facilitate the implementation of guidance on application of the Violence Against Women Act to the Housing Credit program.
NCSHA Comments to FHFA on Modified GSE Duty-to-Serve Plans
On December 6, 2023, NSHA submitted the attached commented letter in response to a Federal Housing Finance Agency (FHFA) request for input on changes Fannie Mae and Freddie Mac proposed to their Duty-to-Serve Underserved Market Plans. The letter conveys opposition to Freddie Mac’s proposal to reduce equity purchase goal for 2023. NCSHA also expresses concerns about other downward revisions that both firms propose to various loan and investment goals for 2023.
NCSHA Letter to HUD, Treasury on Federal Financing Bank – Federal Housing Administration Multifamily Loan Risk-Sharing Program
On December 1, 2023, NCSHA sent this letter urging the Secretaries of the U.S. Departments of Treasury and Housing and Urban Development to make the Federal Financing Bank (FFB) – Federal Housing Administration (FHA) Multifamily Loan Risk-Sharing Program permanent or to extend the program for as long as possible.
IRS Revenue Procedure 2023-34: 2024 Housing Credit and Housing Bond Volume Caps
The Internal Revenue Service’s Revenue Procedure 2023-34 provides the 2024 per-capita and small-state minimum levels for the Low Income Housing Tax Credit and Private Activity Bonds. In 2023, states will receive the greater of $2.90 per capita or $3,360,000 in Housing Credit authority and the greater of $12 per capita or $378,230,000 in PAB volume cap.
Bipartisan House Letter to Treasury: Protect Investments in Rural Housing
Twenty bipartisan members of the House of Representatives sent this November 3, 2023, letter to the U.S. Department of Treasury requesting an issuance of guidance clarifying that Fannie Mae and Freddie Mac are not considered tax-exempt controlled entities to preserve critical investments in rural housing.
NCSHA Recommended Practices in Housing Credit Administration
To strengthen Housing Credit administration and continue to merit and maintain congressional confidence in it, states have developed through NCSHA recommended practices in Housing Credit administration. These practices—created by states for states—not only help states meet their responsibilities but also preserve, to the maximum practical extent, the individual state flexibility that is at the heart of the Housing Credit program and its great success.
Resources on McKinney-Vento Title V
Set of resources related to the McKinney-Vento Act, which gives nonprofit organizations and state and local governments an effective right of first refusal to acquire at no cost surplus federal properties — including office buildings — to facilitate their redevelopment as affordable apartments.
