News
Update for CPD Income Eligibility Calculator Users
HUD announced that on June 15, 2023, the Community Planning and Development (CPD) Income Eligibility Calculator will update to incorporate the FY 2023 Income Limits for all programs.
NMTC Qualified Equity Investment Report
The U.S. Department of the Treasury CDFI Fund announced that the June New Markets Tax Credit Program Qualified Equity Investment (QEI) report has been updated and is available.
Oklahoma Housing Stability Program
Oklahoma HFA announced HB 1031, also known as the Oklahoma Housing Stability Program, became law June 2 with an effective date of July 1.
2,600 Organization Call on Congress to Support the Affordable Housing Credit Improvement Act
On the heels of the newly reintroduced Affordable Housing Credit Improvement Act (S. 1557 / H.R. 3238), The ACTION Campaign sent a letter to Congress calling for cosponsors and seeking action on any future tax legislation.
IRS, DOE Release Additional Guidance on IRA Provisions, Including Low-Income Community ITC Bonus
The Internal Revenue Service (IRS) and the Department of Energy (DOE) released a proposed rule on Additional Guidance on Low-Income Communities Bonus Credit Program and Notice 2023-44 – Additional Guidance for the Qualifying Advanced Energy Project Credit Allocation Program.
MIC Releases Multifamily Impact Framework 1.0
The Multifamily Impact Council (MIC) released the Multifamily Impact Framework 1.0, which establishes a baseline of common principles, definitions and reporting guidelines for multifamily impact investments to help property owners and investors attract more impact-motivated capital.
Quarterly NSP Closeout Status Indicator Report
HUD announced a new report available related to the new quarterly closeout status indicator for the Neighborhood Stabilization Program (NSP).
Details of the Debt Limit and Spending Deal
President Joseph Biden (D) and House Speaker Kevin McCarthy (R-CA) released legislative text for a deal that would suspend the debt limit through Jan. 1, 2025, and place caps on federal spending for fiscal years 2024 and 2025.
Comments on FHFA’s RFI on Multifamily Tenant Protections Due July 31
The Federal Housing Finance Agency (FHFA) issued a Request for Input (RFI) on tenant protections at multifamily properties with mortgages backed by Fannie Mae and Freddie Mac.
HUD Releases Fiscal Year (FY) 2023 Income Limits
Last week, HUD released Fiscal Year (FY) 2023 Income Limits, which were effective on May 15, 2023. HUD once again instituted a cap, this year at 5.92 percent.
Bipartisan YIMBY Act Reintroduced in Congress
Senators Todd Young (R-IN) and Brian Schatz (D-HI) reintroduced the Yes In My Backyard (YIMBY) Act, a bill aimed at removing discriminatory zoning policies and burdensome regulations that hinder housing and community development.
Biden-Harris Administration Announces New Initiative to Tackle Unsheltered Homelessness
The Biden-Harris administration launched ALL INside, an initiative to address unsheltered homelessness across the country.