Congress

The proposed legislation would amend the Public Housing program as well as Section 8 Rental Assistance programs (Tenant-Based Rental Assistance/Housing Choice Vouchers (including project-based vouchers) and Project-Based Rental Assistance.

On March 23, President Trump signed into law the 2018 omnibus spending bill (HR 1625). Bill language was released late Wednesday night and the House of Representatives and Senate subsequently passed the bill on Thursday. The news of passage comes shortly after President Trump threatened via Twitter to veto the bill on Friday morning. The […]

This allows for the two credits to be decoupled, allowing investors to transfer state credits separate from federal LIHTCs. The entity or person receiving the state credit would also not need to have any ownership interest in the LIHTC development.  

Senators Jeff Merkley (D-OR) and Bob Menendez (D-NJ) invite their colleagues to sign on to their “Dear Colleague” support letter requesting $12.2 billion in funding for HUD’s project-based rental assistance. Please encourage your senators to sign this letter.

Opportunity Zones will provide a resource similar to the gap funding from the HOME program but “on steroids”, explains Carson.

Congressional leadership is anticipating a release of the omnibus language later today with potential for a House vote on Thursday.

NH&RA urges members and other interested parties to support legislation to make the New Markets Tax Credit permanent as well as increase annual allocation authority. The NMTC Coalition has provided information and resources for how you can help.

The New York Housing Conference has provided the below state impact analysis regarding President Trump’s Budget Request: President Trump’s FY 2019 Budget cuts HUD funding by $8.8 billion or 18.3% compared to enacted FY 2017 funding. This proposal represents a major shift in the federal government’s role in subsidized housing. Public Housing Capital, CDBG and […]

The plan might inadvertently benefit affordable housing by lifting state volume caps on Private Activity Bonds, but it does not outline additional funding for affordable housing. While savings from cuts to the Department of Transportation would be sent back to that same Department in the form of grants, the same would not be true for HUD, whose cuts would also ostensibly pay for the infrastructure plan, but as affordable housing is not a part of the plan, HUD would receive nothing back in return.

The cut to the Department’s budget means proposed elimination for several programs, while a select few programs are kept at level or awarded increased funding. While Congress will not take the numbers to heart, a rent hike or work requirements for able-bodied families receiving rental assistance is possible.

Without an agreement, the law would reduce spending to $549 billion for defense and $516 billion for nondefense. Under the bi-partisan deal, those caps would be increased in FY 18 by $63 billion for non-defense domestic spending and $80 billion for defense spending.

Recent reports have brought to light that Republicans may have put several offers on the table in spending negotiations, as the current Continuing Resolution expires on February 8. One such proposal is to raise the spending caps by $80 billion for defense and $63 billion for nondefense, more recently, however, that proposal has reportedly changed […]