Resources
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.
HOME Coalition Letter to Appropriators Seeking Funding for FY24
On October 2, 2023, the NCSHA-led HOME Coalition sent a letter to Appropriations Committee leaders in both chambers requesting robust funding for the HOME Investment Partnerships program as they wrap up appropriations legislation for Fiscal Year 2024. The letter requests no less than $1.5 billion for HOME, citing the critical need for this program due to many communities’ current housing supply challenges.
Reports: State Housing Finance Agency Roles in Reducing Household Energy Costs
Published by NCSHA in September 2023, two reports by Abt Associates profile HFA energy innovation and impact in eight states and examine potential new HFA roles in response to new federal investment in residential energy efficiency and renewable energy.
Qualified Contract Letter Sent to USDA
This October 25, 2023, letter, sent by NCSHA and other Housing Credit advocacy organizations to Secretary Vilsack, urges the Department of Agriculture to take actions to mitigate qualified contract early terminations of Housing Credit units that benefit from Section 538 multifamily housing loan guarantees.
NCSHA Letter to HUD on Early Termination of Qualified Contracts
This September 25, 2023, letter, sent by NCSHA and other Housing Credit advocacy organizations to Secretary Marcia L. Fudge, urges the U.S. Department of Housing and Urban Development (HUD) to take actions to mitigate qualified contract early terminations of Housing Credit units that benefit from HUD financing and Federal Housing Administration insurance.
184 Local Leaders Sign Onto Letter Supporting the Affordable Housing Credit Improvement Act
184 local government officials, representing cities, counties, and other municipalities of all sizes across the country, sent a letter to Congressional leadership supporting the Affordable Housing Credit Improvement Act (AHCIA) of 2023.
