News

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.

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.

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.

HUD Announces New Resources for Advancing Housing Protections for Survivors of Domestic Violence, Dating Violence, Sexual Assault and Stalking

HUD announced new resources to advance housing protections for survivors of domestic violence, dating violence, sexual assault and stalking under the Violence Against Women Act (VAWA).

For-Profit Organizations Not Subject to USDA RD BABAA Requirements

The Council for Affordable & Rural Housing (CARH) confirmed that for-profit organizations are not considered “non-federal entities” and thus not subject to Build America, Buy America Act requirements.

COVID Public Health Emergency to End in May with Implications for Affordable Housing Industry

President Joe Biden (D) announced that the national public health emergency declarations from COVID-19 will end in May.

HUD Solicits Input on Standardizing Rental Assistance Program Regulations

HUD published an advance notice of proposed rulemaking (ANPRM) on developing a standardized program regulation and renewal contract for Section 8 project-based rental assistance programs.

Treasury: New Global Minimum Tax Guidance Will Protect LIHTC

The Department of the Treasury announced that all 142 countries and jurisdictions, including the U.S., participating in the Organization for Economic Cooperation and Development (OECD) and Group of Twenty’s (G20) effort to establish a new 15 percent global minimum tax (GMT) have come to a consensus and released guidance on the GMT’s implementation worldwide.