Resources
IRS Regulatory Relief Available During COVID-19 Pandemic (Updated)
This matrix compares the accommodations NCSHA requested in its March 23 letter to IRS to those allowed under existing IRS Revenue Procedures 2014-49 and 2014-50, which provide relief in instances of Presidentially-declared Major Disasters, and to recent IRS Notice 2020-23, which extends certain program deadlines until July 15, 2020.
Preserving Community and Neighborhood Choice Final Rule
This final rule repeals HUD’s 2015 Affirmatively Furthering Fair Housing regulations and the 1994 Analysis of Impediments requirements where they appear in regulation and instead returns policy to HUD’s pre-1994 understanding of the 1968 Fair Housing Act’s obligation to affirmatively further fair housing. It requires HUD grantees to certify that they will take active steps to promote fair housing, without HUD prescribing specific guidelines for doing so.
House Member Sign-On Letter to Leadership Supporting Housing Credit Provisions in Coronavirus Relief Legislation
Representatives Suzan DelBene (D-WA) and Jackie Walorski (R-IN) are circulating this House of Representatives member sign-on letter in support of inclusion of the Low Income Housing Tax Credit priorities in the next coronavirus relief bill. The letter will be sent to House leadership.
National Low Income Housing Coalition | Out of Reach: The High Cost of Housing 2020
On July 14, 2020, the National Low Income Housing Coalition released the 2020 edition of its annual report documenting the gap between renters’ incomes and the cost of housing.
Interview: State HFAs Remain Stable During the COVID-19 Crisis
The June 2020 edition of Down Payment Report included an interview with NCSHA Executive Director Stockton Williams in which he highlighted that state housing finance agencies have been accessing bond markets and mortgage backed securities to provide affordable homeownership financing for home buyers within their states; that state HFAs are doing as much or more business than they were at this time a year ago; and how state HFAs, through their down payment assistance programs, can play an even bigger role in closing the homeownership gap between people of color and white Americans.
PIH Notice 2020-14: Availability of Funding for HUD-VASH Vouchers
On July 8, 2020, the U.S. Department of Housing and Urban Development issued PIH Notice 2020-14 announcing the availability of $50 million in HUD-Veterans Affairs Supportive Housing (HUD-VASH) funding that will support approximately 6,000 new HUD-VASH vouchers. The vouchers are administered in partnership with the U.S. Department of Veterans Affairs and enable homeless veterans and their families to access affordable housing with an array of supportive services.
IRS/Treasury REG-123027-19 Housing Credit Compliance Monitoring Regulations Proposed Rule
This document provides proposed regulations relating to the sample size Housing Credit Agencies must monitor for program compliance, both physical inspections and low-income certification reviews. It allows agencies to monitor the lesser of 20 percent of the units in a building or the number provided in the Minimum Unit Sample Size Reference Chart.
NCSHA Summary of the Moving Forward Act (H.R. 2)
This summary describes the House Democrats’ new $1.5 trillion infrastructure bill, the Moving Forward Act, H.R. 2, which would provide funding for roads, bridges, schools, broadband access, and affordable housing. The bill would increase the amount of Housing Credit and Private Activity Bond authority provided to states annually, make a number of changes to the Housing Credit and Bond programs, establish a new state-administered single-family housing tax credit, and make a number of other changes summarized below.
IRS Notice 2020-53, Housing Credit Coronavirus Guidance
This notice extends and expands temporary relief provided under previous Notice 2020-23 from certain requirements under Section 42 of the IRC for Housing Credit properties in response to the ongoing COVID-19 pandemic. The deadline extensions and waivers provided in this Notice have since expired; however, the IRS issued subsequent Notices, Notice 2021-12 and 2022-05 providing further extension and expanding on the guidance in this Notice.
