News

The National Low Income Housing Coalition has composed a sign-on letter urging Congress to maintain funding for the National Housing Trust Fund, the only Federal Program designed to preserve and build housing for the lowest income bracket. NH&RA is proud to be a signatory on the letter and urges its members to sign on as well by the March 22 deadline. See below for a message from NLIHC:

The new guidance, released by the National Park Service, gives examples of when buildings functionally related historically can be treated as separate projects for the purpose of certification.

Obtained preliminary budget documents from the Trump Administration reportedly outline a 14% cut for HUD – over $6B. Whether the obtained documents go into OMB’s final budget or not, plans for boosting defense spending by $54 billion, along with some Members of Congress proposing an even higher increase, will create budget consequences for programs like HUD.

The shortage of affordable housing equates to 35 affordable and available units per 100 ELI renter households in the United States, with the ratio even further exaggerated in particular states.

By a vote of 58 to 41, the Senate last Thursday confirmed retired neurosurgeon and former Republican presidential candidate Dr. Ben Carson as the next Secretary of Housing and Urban Development.

Sen. Maria Cantwell (D-WA) announced Monday that she is reintroducing legislation with at least ten other Senators (including co-sponsor Sen. Orrin Hatch (R-UT) to improve and expand the Low Income Housing Tax Credit.

Rep. Paul Gosar (R-AZ) recently introduced H.R. 482, as Senator Mike Lee (R-UT) introduced S. 103, an identical piece of companion legislation in the Senate.

The report makes no recommendations.

The legislation would reduce eligibility for the Mortgage Interest Deduction and divert the savings to the LIHTC program, the Housing Trust Fund, and HUD and RD programs.

The IRS recently released Notice 2017-19, which gives states population figures used in determining LIHTC allocation amounts as well as private activity bond caps. Rev. Proc. 2016-55 specifies that for the year 2017, each state shall receive the greater of $2.35 multiplied by the state’s population or $2,710,000. Section 3.20 of the same Re. Proc. […]

An article by Jeff Whiting reminds us that tax reform presents opportunity.

Presented to the most outstanding Low Income Housing Tax Credit (Housing Credit) properties in seven categories, the Edson Awards bring together Members of Congress and industry participants to celebrate developments at the forefront of creating strong, healthier communities in urban, suburban, and rural areas nationwide.