Resources
HUD Affirmatively Furthering Fair Housing Proposed Rule
HUD issued a proposed rule to reform its regulations of the Fair Housing Act’s requirement to Affirmatively Further Fair Housing (AFFH). The proposed rule replaces the AFFH rule published in 2015, implementation of which the Secretary in 2018 suspended.
Housing Finance Reform FAQs
Why is housing finance reform important? | What are NCSHA’s priorities in housing finance reform? | Didn’t affordable housing efforts cause Fannie Mae’s and Freddie Mac’s financial troubles? | How should the GSEs support affordable housing? | Why should the GSEs be expected to support affordable housing—aren’t federal housing programs enough? | What are State HFAs? | Why should HFAs be the GSEs’ preferred affordable housing partners
U.S. Court of Appeals Decision in Inclusive Communities Project, Inc. vs. Department of Treasury, Office of the Comptroller of the Currency
The Fifth Circuit Appeals Court dismissed a suit brought by the Inclusive Communities Project (ICP) against the Department of the Treasury and Office of the Comptroller of the Currency on the grounds that ICP does not have standing. ICP had sued the federal agencies under the Fair Housing Act, alleging that they failed to regulate the Low Income Housing Tax Credit program to affirmatively further fair housing.
NCSHA and EIG Webinar on Affordable Housing Investment in Opportunity Zones
On December 17th, NCSHA hosted a webinar with the Economic Innovation Group (EIG) to discuss how Opportunity Zone investments are supporting affordable housing and community development initiatives. The webinar highlighted financial structuring and development details of projects in Florida, Maryland, and Ohio that are part of the recently launched case studies series of developments that incorporate Opportunity Zone investment to create affordable homes and support community revitalization. NCSHA’s Jim Tassos joined EIG staff and development team representatives to provide context to HFA initiatives in Opportunity Zones and to discuss trends from NCSHA’s latest Opportunity Zone Fund Directory, published earlier this week. A recording of the webinar can be found below.
Treasury and IRS Final Regulations on Opportunity Zones
The U.S. Treasury Department and the IRS issued final regulations implementing the Opportunity Zones tax incentive. Opportunity Zones, created by the Tax Cuts and Jobs Act, offer capital gains tax relief for investments in economically distressed areas. The final rules provide clarity for Opportunity Funds and their eligible subsidiaries in determining qualification and levels of new investment in Opportunity Zones. They also provide guidance regarding the types of gains that qualify for Opportunity Zone investments, as well as gains that may be excluded from tax after a 10-year holding period.
IRS Revenue Procedure 2019-45 (Procedure for Requests of Unused Housing Credit Carryover from the National Pool)
This Revenue Procedure establishes a new procedure by which Housing Credit agencies may request unused Housing Credit carryover authority from the National Pool. As of its publication, agencies must send their request for National Pool authority to the email address included in the Rev. Proc., rather than mailing a hard copy to the IRS P.O. box. Rev. Proc. 2019-45 supersedes Rev. Proc. 92-31.
Mayors’ Letter in Support of AHCIA of 2019
Forty-seven mayors representing cities in 21 states and the District of Columbia sent this letter to House and Senate leaders in support of the Affordable Housing Credit Improvement Act’s inclusion...
2020 Democratic Presidential Candidates Address Affordable Housing During Primary Debate
During the fifth Democratic debate on November 21, NBC White House correspondent Kristen Welker asked, “Millions of working Americans are finding that housing has become unaffordable… why are you the best person to fix this problem?”
Salazar Testimony Before the House Financial Services Subcommittee on Housing, Community Development, and Insurance
Oregon Housing and Community Services Executive Director and NCSHA Secretary/Treasurer Margaret Salazar represented the nation’s state housing finance agencies on November 20 during a hearing before the House Financial Services Subcommittee on Housing, Community Development, and Insurance focused on the health, safety, and soundness of HUD-assisted rental and public housing.
