Conference Materials

  • Housing Credit syndicators and investors forecast what to expect in the 2016 equity market and provide perspectives on Credit pricing, GSE duty to serve requirements, tax-exempt bond deals, Community Reinvestment Act (CRA) activity, resyndication, and secondary market transactions.

  • As some Housing Credit developments approach the end of the extended use period, the industry is shifting focus to long-term preservation. Join the emerging dialogue on Year 30, including diverse perspectives on recapitalization, priorities for use of Credit and tax-exempt bond financing, rights of first refusal, market value, property disposition, and the feasibility of permanent affordability.

    Federal Regulations and Notices

    • The USDA Rural Development (RD) office on May 24 published an “Unnumbered Letter” allowing state RD offices to reallocate unused rental assistance (RA) within their states without approval from the national office, reversing a policy in place since 2013 requiring state offices to return unused RA to the national office to be recaptured.

    • U.S. Senator Maria Cantwell (D-WA), joined by Seattle Mayor Ed Murray, Tacoma Mayor Marilyn Strickland, Everett Mayor Ray Stephanson and the A.C.T.I.O.N. campaign – a coalition of more than 1,300 national, state, and local affordable housing advocates – will urge Congress to expand the Low-Income Housing Tax Credit (LIHTC). On Thursday, Cantwell, along with local leaders and housing advocates will kick off a national campaign to increase federal resources for affordable housing. Senator Cantwell will call for a 50 percent expansion of the LIHTC, reforms to better target the lowest income populations and unveil her report, “The Housing Tax Credit: Addressing the Challenges of Affordable Housing & Homelessness.”

      Fact Sheets and Policy Briefs

      • ncsha_logo.gif

        The National Council of State Housing Agencies (NCSHA) is a national nonprofit, nonpartisan organization created by the nation’s state Housing Finance Agencies (HFAs) to advance through advocacy and education their efforts to provide affordable housing to those who need it. NCSHA’s priorities, adopted annually by its Board of Directors after consultation with all state HFAs, set the agenda for NCSHA’s advocacy before Congress, the Administration, and the federal agencies concerned with housing, including HUD, USDA, and the Treasury, as well as its business activities.

      • FY 2017 Budget Chart

        Legislation

        • On April 15, more than 120 members of the U.S. House of Representatives signed onto a letter last week urging House Speaker John Boehner (R-OH) and Minority Leader Nancy Pelosi (D-CA) to reject proposals that would eliminate or diminish the tax-exempt status of municipal bonds.

          The letter, written by Representatives Randy Hultgren (R-IL) and Dutch Ruppersberger (D-MD), was signed by 122 House members.

        • I would like to raise awareness of a critically important program that, although not within the jurisdiction of the Committee on Financial Services, is very often used to complement and strengthen a number of the affordable rental housing programs over which this Committee and Subcommittee does have jurisdiction. That program is the Low -Income Housing Tax Credit (“Housing Credit”), which is contained in Section 42 of the Internal Revenue Code of 1986 and, as you know, is under the jurisdiction of the Committee on Ways and Means, on which I am honored to serve. The Housing Credit embodies the concept that this Subcommittee is exploring today — it serves to increase private sector participation in affordable housing. Indeed, since its enactment as part of the Tax Reform Act of 1986, the Housing Credit has been the key financial tool utilized in virtually all affordable rental housing development and preservation. It is very often used in conjunction with the programs that I understand the Subcommittee is focused on today — properties which have Section 8 assistance and public housing, particularly public housing being developed under the new Rental Assistance Demonstration program. The Housing Credit has been tremendously successful precisely because of the private participation and the public/private partnerships that are at its heart.

          NCSHA Testimony, Comments, and Correspondence

          • Congress has delegated responsibility for administering the Housing Credit to the states, recognizing that each state is better able than the federal government to address the low-income housing needs unique to its citizens. This delegation of authority to the states to administer a major federal tax program is unique and unprecedented. In making it, Congress recognized the value of decentralized decision making concerning each state's low-income housing needs, but also imposed a uniform set of procedures each state must follow in determining the developments to which they allocate Housing Credits.

          • The undersigned organizations, which include a broad cross-section of stakeholders in the housing affordability realm, urge Senate passage of “The Housing Opportunities through Modernization Act” (H.R. 3700), without delay and without additions to this bill that makes commonsense reforms to federal housing policy.