Federal / Agency News
Senate Finance Committee Holds Hearing on Increasing Affordable Housing; Chairman Wyden Introduces DASH Act
The Senate Finance Committee held a hearing on March 7, 2023 to discuss tax policy’s role in increasing the affordable housing supply for working families.
President Biden Releases FY 24 Budget Request
On March 9, the White House released its fiscal year (FY) 2024 budget proposal, which notably calls for $51 billion in additional LIHTCs, a new Neighborhood Homes Tax Credit, and mandatory funding for new project-based rental assistance contracts.
Senate Reintroduces HTC-GO
Senators Ben Cardin (D-MD), Bill Cassidy (R-LA), Maria Cantwell (D-WA) and Susan Collins (R-ME) reintroduced the Historic Tax Credit and Growth Opportunity Act (HTC-GO) of 2023 (S. 639).
CDFI 2023 Capital Magnet Fund Applications & ACR Conference Call
The Community Development Financial Institutions Fund (CDFI Fund) announced that the Fiscal Year 2023 Capital Magnet Fund applications are due on March 21 at 11:59 p.m. ET.
HUD Problem Solving Clinic (CDBG) and CDBG Reports
HUD’s Office of Disaster Recovery (ODR) announced that it is sponsoring the 2023 Community Development Block Grant Disaster Recovery and Mitigation (CDBG-DR and CDBG-MIT) Problem Solving Clinic.
Senate Banking Committee Hearing on Housing – March 7
The Senate Committee on Banking, Housing and Urban Affairs will hold a hearing on March 7 at 10 a.m. ET on Increasing Affordable Housing Supply.
Jodie Harris to Step Down at CDFI Fund
At the end of April, Jodie Harris will step down as director of the Community Development Financial Institutions Fund (CDFI Fund) to serve as president of the Philadelphia Industrial Development Corporation (PIDC).
Community Development Financial Institutions Fund FAQ’s
The Community Development Financial Institutions Fund (CDFI Fund) has provided an updated Frequently Asked Questions (FAQ) page for the CDFI Certification Blackout Period on its website.
JCHS Rental Markets One Year After Our America’s Rental Housing Report Webinar– Feb. 24
In early 2022, when the Joint Center for Housing Studies of Harvard University released its last biennial America’s Rental Housing report, demand for rental housing was surging, rents had risen dramatically, vacancy rates were at 40-year lows, and many lower-income renters struggled to pay the rent.
CBO Increases CPI Estimates with Implications for HUD, LIHTC Properties
The Congressional Budget Office (CBO) released its Budget and Economic Outlook for 2023 to 2033, which includes the consumer price index (CPI) figure that has historically been used by HUD to determine income limits for LIHTC properties.
IRS Publishes Initial Guidance on Energy Projects for Low-Income Communities and Energy Project Credits from Inflation Reduction Act
Earlier this week, the Internal Revenue Service (IRS) released Notice 2023-17: Initial Guidance Establishing Program to Allocate Environmental Justice Solar and Wind Capacity Limitation Under Section 48(e) and Notice 2023-18: Initial Guidance Establishing Qualifying Advanced Energy Project Credit Allocation Program Under Section 48C(e).
HUD Launches Assistance Animals and Fair Housing – Navigating Reasonable Accommodations Interactive Tool
HUD’s recently released Assistance Animals and Fair Housing – Navigating Reasonable Accommodations Interactive Tool provides persons with disabilities with information about their fair housing rights related to requests for assistance animals.