Resources
NCSHA Comments to the IRS on Form 8609
On January 25, 2021, NCSHA submitted comments to the Internal Revenue Service on Form 8609 (Low Income Housing Credit Allocation and Certification). These comments suggest form revisions related to the minimum 4 percent Credit rate enacted in the Consolidated Appropriations Act of 2021, the ability of state agencies to notify IRS about carryover allocation or placed in service relief to projects, and other improvements to assist agencies in administration of the Housing Credit program.
NCSHA, Other Housing Advocacy Groups Urge Biden Administration to Support Housing Assistance Fund
On January 21, 2021, NCSHA joined a broad coalition of organizations representing the affordable housing industry in a letter to President Biden and the Departments of the Treasury, Housing and Urban Development, and Agriculture expressing unified support for the $25 billion Housing Assistance Fund to be included in the American Rescue Plan to help homeowners negatively impacted by COVID-19 pandemic.
IRS Notice: 2021-10 Opportunity Zones COVID-19 Relief Extension
This notice extends the relief provided by IRS Notice 2020-39 and provides additional relief for Qualified Opportunity Funds and their investors in response to the COVID-19 pandemic. Notice 2021-10 specifically provides relief from the 180-day Opportunity Zone investment requirement, the 30-month substantial improvement period, the 90 percent investment standard, the 12-month reinvestment period for Opportunity Funds, and other program requirements.
IRS Notice 2021-12: Housing Credit Coronavirus Relief Guidance Extension and Expansion
This notice extends and expands temporary relief originally provided under previous Notice 2020-23 and Notice 2020-53 from certain requirements under Section 42 of the Internal Revenue Code for Housing Credit properties in response to the ongoing COVID-19 pandemic. Notice 2021-17 provides further clarification on the implementation of this Notice. The deadline extensions and waivers provided in this Notice have since expired; however, the IRS issued a subsequent Notice, Notice 2022-05 providing further extension and expanding on the guidance in this Notice.
American Rescue Plan
This document outlines President-Elect Biden’s proposal for a comprehensive COVID-19 relief platform, including housing aid.
HUD: The National Standards for the Physical Inspection of Real Estate (NSPIRE) Proposed Rule
Published on January 13, the Economic Growth Regulatory Relief and Consumer Act: Implementation of National Standards for the Physical Inspection of Real Estate (NSPIRE) proposed rule would revise the way HUD-assisted housing is inspected and evaluated using the National Standards for the Physical Inspection of Real Estate (NSPIRE) model.
NCSHA Summary of Emergency Rental Assistance
This summary provides the details of the emergency rental assistance program authorized under the Consolidated Appropriations Act of 2021.
NCSHA Statement to Trump Administration on Emergency Rental Assistance Program Guidance Recommendations
This statement, which NCSHA sent on January 8, 2021, to Trump Administration’s Treasury Department officials contains NCSHA’s initial recommendations on the guidance grantees would need to implement the Emergency Rental Assistance program.
NCSHA Comment Letter on HUD HOTMA Proposed Rule
On January 6, 2021, NCSHA submitted this comment letter to the U.S. Department of Housing and Urban Development in response to its proposed rule that would implement changes affecting the Housing Choice Voucher tenant-based and Project-Based Voucher programs as authorized by the Housing Opportunity Through Modernization Act of 2016 (HOTMA) as well as additional regulatory changes intended to reduce the burden on public housing agencies.
