News

The ACTION Campaign recently updated its national, state and district fact sheets to include the most recent data from 2018. The update found that nationwide more than 3.3 million affordable rental homes have been financed by the Housing Credit, which have served an estimated 8 million households and provided an estimated 5.2 million jobs, $206 billion in tax revenue, and $593 billion in wages and business income.

Effective July 1, 2020, the Virginia Fair Housing law was updated to include four new protected classes; source of income, status as a veteran, gender identity and sexual orientation in addition to race, color, religion, national origin, sex, elderliness, familial status and disability.

The Internal Revenue Service (IRS) issued final regulations regarding the provision of the Tax Cuts and Jobs Act that limits the deduction for business interest expense, including basic statutory amendments made by the CARES Act.

HUD is making available $224 million of CARES Act funds available to offset property expenditures to combat the effects of COVID-19. The supplemental payments may cover additional cleaning and disinfecting, additional staff, face coverings and other expenses to help keep properties safe for residents. Requests are due to HUD or the Contract Administrator by August 5, 2020.

On Monday, Senate Republican’s released text of their Health, Economic Assistance, Liability Protection and Schools (HEALS) Act. The bills include an additional round of $1,200 stimulus payments, additional funding for the Paycheck Protection Program (PPP), liability protections for businesses that reopen and unemployment compensation. The bill notably does not extend the eviction moratorium that expired on July 24 or any LIHTC provisions.

HUD released a new final rule, Preserving Community and Neighborhood Choice, which would replace the Obama Administration’s Affirmatively Furthering Fair Housing (AFFH) rule. Under the new rule, a federal grantee would be required to certify that it has affirmatively furthered fair housing. The final rule has yet to be officially published in the Federal Register. Comments are due 30 days after publication.

Reps. Maxine Waters (D-CA), Wm. Lacy Clay (D-MO) and Denny Heck (D-WA), sent a letter to Dr. Mark Calabria, director of the Federal Housing Finance Agency (FHFA), urging the agency to prioritize economic recovery amid the COVID-19 pandemic crisis by pausing a rulemaking that would set new capital requirements for Fannie Mae and Freddie Mac (collectively “the Enterprises”) until after the pandemic.

The Senate voted 57-40 to confirm Dana Wade to be the Federal Housing Administration (FHA) commissioner and assistant secretary at HUD. Wade is succeeding acting FHA Commissioner Len Wolfson, who took over when former Commissioner Brian Montgomery was confirmed as deputy secretary of the Department of Housing and Urban Development.

USDA announced the appointment of Elizabeth “Beth” Green as the acting administrator, Rural Housing Service (RHS). Green will report directly to Rural Development’s (RD) Deputy Under Secretary, Bette Brand, effective August 3, 2020. Green takes over the role from former RHS Administrator Bruce Lammers who recently retired.

Chicago Mayor Lori Lightfoot (D) and the Departments of Housing (DOH) and Family and Support Services (DFSS) announced an expanded Housing Assistance Grant program and a new online portal to assist Chicagoans who have been adversely impacted by the economic fallout from the COVID-19 pandemic.

Representatives Suzan DelBene (D-WA) and Jackie Walorski (R-IN) are circulating a bipartisan sign-on letter to House leadership urging the inclusion of LIHTC priorities as part of COVID response legislation. Please reach out to any House members with whom you have a connection encouraging them to sign on. The deadline is Monday, July 27.

The Housing Assistance Council (HAC) is circulating a sign-on letter to Congressional leadership in support of rural housing being included in the next COVID relief package. The deadline to sign on is today, Wednesday, July 22. NH&RA joined the letter and encourages our members to do the same.