Federal / Agency News

Congress returns this week after its Thanksgiving break with a full agenda.  Priorities include extending funding for most federal agencies for FY 2019, which expires on Dec. 7, and a potential tax package. Chairman of the House Ways and Means Committee Kevin Brady (R-TX) released a tax bill that Congressional Republicans hope to pass during the lame-duck. The bill makes corrections to the Tax Cuts and Jobs Act of 2017, extends several expiring tax measures, includes disaster tax relief and makes changes to retirement and savings tax provisions. 

On November 23, 2018 HUD released the 2019 operating cost adjustment factors (OCAFs) for project-based rental assistance with an anniversary date on or after February 11, 2019. The nationwide OCAF increased by 2.9 percent, ranging from 0.9 percent in Vermont to 3.5 percent in Alaska.  OCAFs are annual factors used to adjust Section 8 rents […]

The Federal Housing Finance Agency (FHFA) published a final rule amending the Federal Home Loan Banks’ (FHLBanks) Affordable Housing Program (AHP) regulations. FHLBanks are required to allocate 10 percent of prior year’s income to fund the AHP, which helps subsidize the purchase, construction and rehabilitation of affordable rental and owner-occupied housing for moderate-, low- and […]

Like many of you, I was up late watching the returns from yesterday’s mid-term elections.  As I write this we are still waiting for final results  on several races, but a few things are becoming clear. The following are some of my first impressions on what the elections could mean for affordable housing and tax credit […]

The United States Government Accountability Office (GAO) has issued a new report titled, “Department of Housing and Urban Development: Better Guidance and Performance Measures Would Help Strengthen Enforcement Efforts.”  The GAO found that the three program offices of the Department of Housing and Urban Development (HUD) that GAO examined have a process in place for […]

On October 10th, the Department of Homeland Security (DHS) published a proposed rule that would make it more likely for certain immigrants to be denied admission to the U.S. or denied green cards because they receive or would receive lifeline benefits, including Public Housing, Housing Choice Vouchers, and Project-Based Section 8 housing subsidies.  The National […]

Representative Steve Stivers (R-OH) and Representative Jose Serrano (D-NY) are circulating a “Dear Colleague Letter” request support for a permanent NMTC extension before the end of 2018. The letter is addressed to Ways and Means Chair Kevin Brady (R-TX) and is intended for members who are not on the Ways and Means Committee.  The deadline to sign […]

As part of HUD’s continuing effort to support “decent, safe and sanitary housing,” Secretary Carson is leading a wholesale re-examination of how the Department conducts inspections to ensure private owners are meeting this standard. As HUD continues its internal review of these inspection protocols, the Department is exploring immediate improvements and those refinements over the […]

On Friday, October 19 the Internal Revenue Service (IRS) issued several critical documents relating to the Opportunity Zone Incentive. This includes:

The Family Self-Sufficiency program was re-authorized on May 24, 2018 as part of the Economic Growth, Regulatory Relief, and Consumer Protection Act.

HUD has announced it will be extending its Multifamily risk-sharing initiative with the Federal Financing Bank (FFB) for eligible Housing Finance Agencies (HFAs) through December 31, 2018. The initiative was originally scheduled to cease accepting new applications for commitments from HFAs on September 30, 2018, but will now accept new applications for commitments under this […]

On September 25, 2018 Sen. Elizabeth Warren (D-Mass.), introduced the American Housing and Economic Mobility Act of 2018 which would dramatically expand funding for the for affordable housing. The measure aims to use federal funding as  leverage to build up to 3.2 million new housing units for lower-income and middle-class families – bringing down rents […]