Congress

The House Ways and Means Committee has released the full text of its Tax Cuts and Jobs Act. The Committee plans to begin markup on the proposed legislation on November 6, with plans for a House floor vote sometime in mid-November. Several changes within the code would drastically change the landscape of affordable housing and community development.

According to a press release issued on October 31, 2017 Congresswoman Suzan DelBene (WA-01) today led members of the Washington state delegation representing King County in introducing the Access to Affordable Housing Act to increase the Low Income Housing Tax Credit (LIHTC) by 50 percent.  At press time bill text was not yet available. “Making […]

NH&RA has joined other members of the Affordable Rental Housing ACTION Steering Committee in a letter to the Chairmen and Ranking Members of the Senate Committee on Finance and House Ways & Means Committees urging Congress to include the Affordable Housing Credit Improvement Act of 2017 (S. 548 / HR 1661) in tax reform legislation […]

As of Wednesday afternoon, it appears Senate Republicans have secured enough votes for their budget resolution.

In an op-ed in The Hill, Mark Dellontem, president and CEO of Love Funding, highlights the success of the federal Rental Assistance Demonstration (RAD) program in utilizing targeted taxpayer dollars to stimulate private capital for renovations and produce wide-ranging benefits. The RAD program, which is a federal program that converts public housing authorities’ (PHAs) existing […]

Representative Pat Tiberi (R-OH-12), the lead Republican sponsor on the House version of the Affordable Housing Credit Improvement Act (H.R. 1661) and a longtime champion of the Housing Credit, announced last week that he will leave Congress no later than January 31, 2018, nearly a year before his term ends. NH&RA thanks Rep. Tiberi for […]

The National Park Services has published its “Annual Report on the Economic Impact of the Federal Historic Tax Credit for Fiscal Year 2016.”  The report, which is produced by Rutgers University with assistance from the National Trust Community Investment Corporation—provides a quantitative analysis of the success of the federal historic tax credit (HTC). Key findings […]

The House Financial Services Subcommittee on Housing & Insurance will host a hearing entitled “Sustainable Housing Finance: Private Sector Perspectives on Housing Finance Reform” on Wednesday, October 25, 2017.  The witness List includes: Mr. Kevin Chavers, Managing Director, BlackRock, on behalf of the Securities Industry and Financial Markets Association (SIFMA) Ms. Brenda K. Hughes, Senior Vice […]

The bill would incentivize coordination amongst housing authorities, school districts, and community organizations to improve educational and housing outcomes for children.

The House this week began debate over its fiscal 2018 budget resolution. While Tax Reform is a large task for Congress to take on, passing a concurrent resolution over the next month will be a critical first step in making tax reform more plausible for the coming year.

As anticipated, Republican leadership released a tax reform framework intended to guide House and Senate tax writing committees in their drafting of tax reform legislation. The framework does not explicitly preserve the historic tax credit and envisions that most business tax credits will be repealed in order to achieve a 20% corporate tax rate.

While the 9-page “Unified Framework For Fixing Our Broken Tax Code” is silent on many critical details, one key feature is a 20% corporate tax rate. This lower rate potentially creates two snags for the tax-incentivized real estate industry.