Congress

NMTC/NAA recently launched a new interactive website and calculator that allows users to interact with data from 50 states and twelve metropolitan areas. The report is part of an educational campaign called “We Are Apartments” which is to show what apartments mean to people and communities across the U.S.

The House of Representatives Appropriations Committee recently approved FY 2014 spending caps, known as 302(b) allocations, for its 12 individual appropriations Subcommittees, including the Transportation-HUD (T-HUD) and Agriculture-Rural Development Subcommittees.

Representative David McKinley (R-WV) recently introduced a bill entitled Preserving America’s Downtown and Heritage Act of 2013 (HR 2042) which would increase the rehabilitation credit for commercial buildings and provide a rehabilitation credit for principal residences.

A bipartisan coalition of U.S. lawmakers recently introduced the Hurricane Sandy Tax Relief Act of 2013 (H.R.2137) to provide tax relief for victims of Hurricane Sandy in areas designated as federal disaster areas by the president.

NH&RA hosted nearly 150 professionals at the 2013 Spring Developers Forum May 7-8 in Marina del Rey, CA. All conference materials, Power Point presentations, relevant articles, reports, memos, etc. are available for review.

The Senate Finance Committee has released a tax reform option paper about economic and community development provisions. The document is the sixth in a series of papers compiling tax reform options that Finance Committee members may wish to consider as they work towards reforming our nation’s tax system.

NH&RA member firm, Novogradac & Company, recently released a report entitled “Affordable Rental Housing after Tax Reform” which details the effect corporate tax reform could have on the equity raised from Low-Income Housing Tax Credits (LIHTC).

The House Ways & Means Committee recently held a hearing on federal tax provisions that affect residential real estate, including the low-income housing tax credit (LIHTC).

The staff of the Joint Committee on Taxation has released a report summarizing the various tax code breaks and incentives for residential real estate in advance of the upcoming House of Representatives Committee on Ways and Means public hearing entitled “Tax Reform and Residential Real Estate,” which is scheduled for Thursday, April 25, 2013 at 9:30 am.

Senators Charles Schumer (D-NY) and Robert Menendez (D-NJ) recently announced they are set to introduce the Hurricane Sandy and National Disaster Tax Relief Act of 2012. In addition, the Obama Administration recently sent a $60.4 billion supplemental spending request to Congress that details means for responding to Hurricane Sandy.

The US Senate recently confirmed Sally Jewell, the former CEO of Recreational Equipment, Inc. (REI), a sporting goods store, as Secretary of the Department of Interior (DOI) by a vote of 87-11.

The NH&RA Advocacy Archive was created to provide a one-stop-shop for NH&RA members who are interested in advocating to elected officials to support key affordable housing and tax credit programs. We have collected a variety of documents, reports, templates and best practices that should be helpful in this effort. Please note this is a work in progress–check back often as we add additional resources.