Federal / Agency News
House Committee Passes Changes to ERAP
Last week, the House Financial Services Committee reported a marked-up Expediting Assistance to Renters and Landlords Act of 2021 (H.R. 5196) to the House, which, if enacted, would make significant changes to the Emergency Rental Assistance Program (ERAP).
OCC Issues Proposal to Rescind Its 2020 Community Reinvestment Act Rule
The OCC announced it is soliciting comments on proposed rules to rescind the CRA rule issued in 2020 and replace it with rules adopted jointly by the federal banking agencies in 1995, as amended.
HUD Designates 2022 DDAs, QCTs
HUD designated Difficult Development Areas and Qualified Census Tracts for 2022.
IRS Extends Virtual Public Hearing Option for Tax-Exempt Bonds Through March 31, 2022
The Internal Revenue Service (IRS) issued Rev. Proc. 2021-39, which extends the ability of bond issuers to conduct hearings virtually through March 31, 2022 due to COVID-19.
Joint Letter to Chairwoman Waters on Amending Emergency Rental Assistance Authorizing Statute
The National Council of State Housing Agencies, along with other major national organizations representing Emergency Rental Assistance (ERA) grantees sent a letter to House Financial Services Committee Chairwoman Maxine Waters (D-CA) providing recommendations on amending the ERA program to eliminate statutory barriers in administration and expedite the provision of assistance to eligible households.
NLIHC, PAHRC Update National Housing Preservation Database
The National Low Income Housing Coalition (NLIHC) and Public and Affordable Housing Research Corporation (PAHRC) updated its National Housing Preservation Database with new data for properties assisted by Section 8 Project-Based Rental Assistance, LIHTCs, Public Housing, HUD-insured mortgages, Section 202 Direct Loans, Section 515 mortgages, Section 538 Guaranteed Loans, fair market rent and Real Estate Assessment Center scores.
111 Representatives Sign Dear Colleague Letter Supporting the Inclusion of Affordable Housing in Reconciliation
A Dear Colleague letter, led by Reps. Suzan DelBene (D-WA) and Don Beyer (D-VA), asking Speaker of the House Nancy Pelosi (D-CA) and House Minority Leader Kevin McCarthy (R-CA) to include LIHTC provision in the partisan reconciliation package was signed by 111 representatives.
Estimating the Scale of the Eviction Crisis: 750K at Risk of Eviction, 61 Percent of Households Yet to Apply for ERAP
A leaked report from Goldman Sachs released Sunday estimates that about 750,000 households could face eviction later this year unless Congress acts or rental assistance funds are distributed more quickly.
Treasury Issues New Guidelines to Speed Rental Assistance Processing
The U.S. Treasury Department released new policy guidelines Aug. 25 aimed at speeding processing of Emergency Rental Assitance Program (ERAP) funds.
House Advance Partisan Reconciliation Package
The House Aug. 24 passed the Senate-passed budget reconciliation instructions with a 220-212 party-line vote (S.Con.Res.14).
Senator Wyden to Introduce DASH Act
Senate Finance Committee Chairman Ron Wyden (D-OR) has released the text of his soon to be introduced Decent, Affordable, Safe Housing for All (DASH) Act (full text, overall summary, section by section summary).
NCSHA Urges IRS and Treasury to Extend Housing Credit COVID-19 Relief
NCSHA sent the Internal Revenue Service and U.S. Department of the Treasury a letter urging them to extend certain temporary Housing Credit relief provisions in light of the COVID-19 pandemic’s continuing disruption of development and construction activities and the ongoing operation of Housing Credit properties.