Federal / Agency News

HUD’s HOME Program limit on the per-unit subsidy amount that a Participating Jurisdiction is permitted to invest in multifamily housing projects has historically been set at the Section 221(d)(3) mortgage insurance program maximum per-unit amounts.

Members of Congress who addressed the Affordable Housing Tax Credit Coalition’s Spring Meeting on Capitol Hill this week indicated that they still see a possibility of passing parts of the Affordable Housing Tax Credit Improvement Act before Congress adjourns for the year.

The Senate has yet to take up the Tax Relief for American Families and Workers Act (H.R. 7024), which passed the House in January and contains two critical LIHTC provisions.

HUD’s Office of Fair Housing and Equal Opportunity issued guidance on the Application of the Fair Housing Act to the Screening of Applicants for Rental Housing.

Member Day hearing for the Transportation, Housing and Urban Development, and Related Agencies subcommittees has been scheduled for May 8 at 10 a.m. ET at 2358-A Rayburn House Office Building for Members can join here.

In the Senate Appropriations Committee, the Transportation, Housing and Urban Development, and Related Agencies subcommittee held a hearing to review the President’s FY 2025 HUD budget request.

HUD’s Office of Recapitalization, Special Applications Center (SAC), Voucher Program and field operations will be available to answer questions about repositioning – particularly questions that other PHAs would benefit from having HUD staff address in a live recorded webinar from 1 to 3 p.m. ET on May 15.

House Ways and Means Chair Jason Smith (R-MO) announced the establishment of ten “Tax Teams,” made up of Republican members of the committee, that will each focus on a specific aspect of tax policy to prepare for what is expected to be major tax legislation next year in advance of the expiration of many provisions from the 2017 Tax Cuts and Jobs Act.

During her testimony before the House Ways and Means Committee Treasury Secretary Janet Yellen said, “President Biden and I are taking additional actions to bring down the cost of key household expenses like energy, prescription drugs and housing.”

On Monday, the U.S. Supreme Court heard oral arguments in City of Grants Pass, Oregon v. Johnson.

HUD announced an increase in deductibles for wind and named insurance coverage for multifamily properties financed with FHA-insured mortgages as a measure to address rising wind and storm insurance costs in recent years with extreme weather events expected to continue.

The Environmental Protection Agency (EPA) awarded grants under the $7 billion Solar for All program, which will create or expand existing low-income solar programs.