Federal / Agency News
UPDATE: HUD Continues Changes to Support RAD Under 2015 Funding Plan
The U.S. Department of Housing and Urban Development (HUD) released a notice in the Federal Register announcing its plan to implement changes made to the Rental Assistance Demonstration (RAD) program in the 2015 HUD Appropriations Act.
Senate Finance Committee Announces Tax Reform Working Groups
Senate Finance Committee Chairman Orrin Hatch (R-UT) and Ranking Member Ron Wyden (D-OR) recently announced the launch of five separate bipartisan Finance Committee Tax Working Groups to spur congressional comprehensive tax reform efforts in the 114th Congress.
Supreme Court Hears Oral Arguments on Fair Housing Case
The United States Supreme Court recently heard oral arguments related to Texas Department of Housing and Community Development (TDHCA) vs. Inclusive Communities Project (ICP), a case that is examining whether or not disparate impact is “cognizable” under the Fair Housing Act.
HUD Releases New Report: Whom Does LIHTC Serve?
In a recent report Understanding Whom the LIHTC Program Serves, HUD examines several years of demographic and economic data on LIHTC tenants provided by state housing finance agencies through an annual data collection process mandated by HERA.
HUD Proposes to Align Requirements for Certain Programs
HUD recently issued a Notice in Federal Register seeking to streamline requirements across the public housing and Section 8 (tenant- and project-based) portfolios.
NH&RA Joins Call to Support Affordable Housing Funding
NH&RA signed-on to support the National Low Income Housing Coalition’s campaign to urge lawmakers to to act quickly to stop budget caps and sequestration from taking effect in the upcoming fiscal year.
Legislation and Report Target Tax Reform
On Dec 11, 2014, House Ways and Means Committee chairman Rep. Dave Camp H.R. 1, released the Tax Reform Act of 2014 and U.S. Senate Senate Finance Committee Republican staff released the report “Comprehensive Tax Reform for 2015 and Beyond.” Both the legislation and the report have implications for the future of housing tax credits.
Housing Trust and Capital Magnet Funds Will Be Funded
Federal Housing Finance Agency (FHFA) Director Melvin L. Watt instructed Fannie Mae and Freddie Mac to begin setting aside and allocating funds for the Housing Trust Fund and the Capital Magnet Fund. The funds have sat empty since they were created six years ago due to a temporary suspension.
U.S. Treasury Department Announces New Director of the Community Development Financial Institutions Fund
The U.S. Treasury Department announced that Annie Donovan will be the new Director of the Community Development Financial Institutions Fund (CDFI Fund).
Mid-Term Elections Wrap Up: Affordable Housing and LIHTC Implications
The 2014 mid-term elections are almost over and by any measure they were a victory for Republicans in both the House and Senate. Republicans will gain control of the Senate with no less than 52 seats in the chamber and the potential to hold as many as 55 depending on the final results in Virginia, Louisiana, and Alaska. David Gasson explores what this means for affordable housing…
State News Week of September 29: California Governor Jerry Brown Vetoes NMTC and HTC Legislation
On September 29, California Governor Jerry Brown vetoed A.B. 1399, a bill to create a state new markets tax credit (NMTC), and A.B. 1999, to create a state historic rehabilitation tax credit (HTC).
Grace Robertson Announces Retirement from IRS
Grace Robertson, a longtime analyst with the Internal Revenue Service (IRS) recently announced her retirement from the agency.