Resources
Housing Credit Nonprofit Right of First Refusal Factsheet
This document provides background on the Housing Credit nonprofit right of first refusal (ROFR) and why challenges to the ROFR are disrupting the normal investor exit process, leading to legal disputes and litigation that drain nonprofit general partners’ resources and undermine the long-term affordability and viability of Housing Credit properties.
Lessons from Eight States Regarding Factors That Have Contributed to States’ ERA1 Spending Rates
In this report prepared for NCSHA, Abt Associates examined states’ Emergency Rental Assistance spending rates and factors that have affected those rates. In July 2021, Abt interviewed ERA program staff from eight states selected to reflect programs that differed in several ways, including in geographic and population diversity, the sizes of the ERA1 allocations they received, and their ERA1 spending rates as of May 2021.
Analysis of Models for Assessing Rental Assistance Need
In this report prepared for NCSHA, Abt Associates presents an analysis of nine estimates of rental debt that were published at different times during the pandemic and compares those estimates to the congressional appropriations and allocations for the Emergency Rental Assistance Programs, ERA1 and ERA2.
Housing Credit Stakeholder Sign-On Letter to IRS, Treasury on Average Income Test
NCSHA and 32 other Housing Credit Stakeholders organizations sent this letter to the Internal Revenue Service and the U.S. Department of Treasury urging them to issue a finale rule on the Housing Credit Average Income Test (AIT) minimum set-aside considering the modifications outlined in the letter or announce their intention to publish a new proposed rule for public comment.
IRS Revenue Procedure 2021-43: Extends Safe Harbors, Provides Guidance for 4 Percent Properties
IRS Revenue Procedure 2021-43 provides safe harbors for determining whether an exempt facility bond issue that is issued after December 31, 2020, or an allocation of a housing credit dollar amount...
IRS Revenue Ruling 2021-20: 4 Percent Floor Application to Housing Credit Buildings
IRS Revenue Ruling 2021-20 provides guidance regarding whether the 4 percent applicable percentage (4 percent floor) under § 42(b)(3) of the Internal Revenue Code applies to the low-income buildings described in the revenue ruling.
U.S. Treasury Department’s Emergency Rental Assistance Program (ERA1 and ERA2) Interim Report, January 1 – October 30, 2021
This downloadable Excel workbook shows Emergency Rental Assistance (ERA1 and ERA2) dollars paid and number of households assisted by state and local grantees over the reporting periods of January 1 - March 31, April 1 – April 30, May 1 – May 31, June 1 – June 30, July 1 – July 31, August 1 – August 31, September 1 – September 30, 2021, and October 1 - October 30.
Housing Credit Stakeholder Sign-On Letters in Support of Fixing Qualified Contracts, Right of First Refusal
These letters from NCSHA and other Housing Credit stakeholders to House Speaker Nancy Pelosi, House Ways and Means Committee Chair Richard Neal, Senate Majority Leader Charles Schumer, and Senate Finance Committee Chairman Ron Wyden express support for provisions in reconciliation legislation to close the qualified contract loophole and mitigate investor challenges to nonprofit developers seeking to exercise their statutorily given right of first refusal.
NCSHA Summary of the Neighborhood Homes Investment Act
This summary provides details from the “Neighborhood Homes Investment Act,” text of which was included in the Build Back Better Act that passed the House of Representatives on November 19, 2021.
