Congress

The House Financial Services Committee (HFSC) will hold a hearing on “A Legislative Proposal to Provide for a Sustainable Housing Finance System: The Bipartisan Housing Finance Reform Act of 2018” on Friday, Dec. 21 at 9 a.m. EST in Rayburn House Office Building, room 2128.

House Ways and Means Committee Chairman Kevin Brady (R-TX) introduced a new year-end tax relief package. The bill includes the same provision in his original bill that clarifies that veterans are a specified group for preferences within the Low Income Housing Tax Credit (LIHTC) program and extends the LIHTC public use provisions from nine percent allocations to also include four percent bond allocations.

The ACTION Campaign updated its district fact sheets with new data to show the LIHTC’s impact in each congressional district. Last month they released the updated state fact sheets.

On November 15, Sens. Richard Burr (R-NC), Dianne Feinstein (D-CA), Lindsay Graham (R-SC), Kamala Harris (D-CA), Bill Nelson (D-FL), Marco Rubio (R-FL), and Thom Tillis (R-NC) introduced the “Hurricanes Florence and Michael and California Wildfire Tax Relief Act” (S. 3648). The bill, in addition to providing tax relief for victims of the natural disasters like an employment credit and tax-favored withdrawals from retirement plans, would designate all of the applicable disaster zones as an Opportunity Zones.

Funding for the federal government was scheduled to run out on Friday, Dec. 7. On Thursday, Dec. 6 Congress passed a short term continuing resolution that funds the remaining seven appropriations subcommittee bills through Dec. 21. President Trump signed the bill on Friday, Dec. 7.

Congress returns this week after its Thanksgiving break with a full agenda.  Priorities include extending funding for most federal agencies for FY 2019, which expires on Dec. 7, and a potential tax package. Chairman of the House Ways and Means Committee Kevin Brady (R-TX) released a tax bill that Congressional Republicans hope to pass during the lame-duck. The bill makes corrections to the Tax Cuts and Jobs Act of 2017, extends several expiring tax measures, includes disaster tax relief and makes changes to retirement and savings tax provisions. 

House Ways & Means Chairman Kevin Brady (R-TX) has announced he has completed a draft tax measure to fix the “retail glitch” in the new tax law and address many tax extenders.  The draft measure is expected to be circulated in the next few days. It is unclear at time of press whether any affordable […]

Like many of you, I was up late watching the returns from yesterday’s mid-term elections.  As I write this we are still waiting for final results  on several races, but a few things are becoming clear. The following are some of my first impressions on what the elections could mean for affordable housing and tax credit […]

Representative Steve Stivers (R-OH) and Representative Jose Serrano (D-NY) are circulating a “Dear Colleague Letter” request support for a permanent NMTC extension before the end of 2018. The letter is addressed to Ways and Means Chair Kevin Brady (R-TX) and is intended for members who are not on the Ways and Means Committee.  The deadline to sign […]

On October 12, U.S. Senator Dean Heller (R-NV) introduced the Seniors Affordable Housing Tax Credit Act (S. 3580), legislation he authored to incentivize housing owners and developers to rent to low-income seniors. Heller’s proposed legislation would create a tax credit program that allocates credits to states, which, in turn, would be awarded to owners and developers […]

On October 16, NH&RA Executive Director Thom Amdur was recognized at the NHP Foundation 2018 Symposium & Dinner in Washington DC with their Advocacy Award.   Additional honorees included, Senator Susan Collins, Representative Carlos Curbelo, Representative Suzan DelBene, Representative Jim Himes, former HUD Secretary Henry Cisneros, Michael Bodaken, President, National Housing Trust (1993–2018), Monica Mitchell, VP […]

The Senate Committee On Banking, Housing and Urban Affairs will meet in on October 18 to conduct a hearing entitled “Oversight of Pilot Programs at Fannie Mae and Freddie Mac.”  The witnesses will be: Ms. Sandra Thompson, Deputy Director, Division of Housing Mission and Goals, Federal Housing Finance Agency;  Mr. Timothy J. Mayopoulos, Chief Executive Officer, […]