Congress

While it is far from perfect in the eyes of affordable housing advocates, it would expand several key programs and is seen as a tepid victory in the current spending climate.

In an attempt to strengthen the LIHTC program through federal legislation, Senator Cantwell is seeking personal stories of individuals and families who have struggled to find affordable housing and/or have experienced homelessness. NH&RA encourages our members who own and manage affordable housing properties to share this opportunity with their tenants.

Last October, Representative Mike Kelly (R-PA) introduced legislation seeking the first major changes to the Historic Tax Credit since 1986. Senators Cardin and Collins introduced similar legislation to the Senate in early March.

House and Senate approved legislation to establish a permanent minimum 9% Low-Income Housing Tax Credit rate for new construction and substantial rehabilitation and extend the New Markets Tax Credit through 2019.

Congress reauthorized the Elementary and Secondary Education Act, which included Promise Neighborhoods, a sister program to the Choice Neighborhoods Initiative.

FY 2016 funding includes level and higher funding from FY 2015 levels for many key HUD housing programs. In most cases, the funding levels stop short of fully funding the programs’ needs, but are better than expected. Congress approved the omnibus funding measure on Friday, December 18.

Several provisions related to federally-assisted housing, including a pay for success pilot to raise outside capital for energy and water retrofits, were signed into law with the FAST Act.

According to a recent alert from NixonPeabody, the Bipartisan Budget Act of 2015 includes partnership audit reforms.

Enterprise will offer guidance on engaging members of Congress to restore funding to the HOME program through a series of statewide and national webinars. The Senate Appropriations Committee’s proposed cuts to HOME would essentially defund the program.

According to the report, states and communities have invested $26 billion in HOME funds–leveraging an additional $117 billion in public and private resources–to build or preserve nearly 1.2 million affordable homes and provide direct rental assistance to 270,000 families at risk of homelessness since 1992.

House Financial Service Committee Chair Jeb Hensarling (R-TX) is looking for ways to improve HUD programs and USDA rural housing programs. Feedback is due Nov 1.

Key housing programs are in serious jeopardy. Your elected officials will soon be back in your district for August recess and there’s no better time to reach out and show them the importance of the programs that support the development of affordable housing.