We use cookies to provide you with a better experience. By continuing to browse the site you are agreeing to our use of cookies in accordance with our Cookie Policy.
On July 29, President Obama officially signed into law H.R. 3700, the Housing Opportunity Through Modernization Act (HOTMA). Although HOTMA touches on a variety of housing issues such as veteran’s assistance, rural housing, and mortgage insurance, the bulk of the legislation deals with reforms to the Section 8 Housing Choice Voucher program and pu...
Senate Finance Committee member Maria Cantwell (D-WA) and Senate Finance Committee Chairman Orrin Hatch (R-UT) recently introduced legislation (S.3237), which adds upon an earlier bill they proposed to increase the LIHTC program’s tax credit authority by 50 percent and create a 4 percent credit rate floor for acquisition and bond-financed projects. Senate Finance Committee Ranking Member ...
The House Committee on Financial Services recently held a hearing to examine recent changes HUD made in its Distressed Asset Stabilization Program (DASP), which pools delinquent Federal Housing Administration (FHA)-insured single-family loans and sells them to investors, subject to requirements designed to help homeowners avoid foreclosure while boosting HUD's Mutual Mortgage Insurance (MMI) Fund.
The NH Housing Finance Authority has ruled that all future units built using the state’s Low Income Housing Tax Credit will be required to be 100 percent smoke-free. This policy makes New Hampshire one of only five states in the nation to have such a requirement.
The Government Accountability Office (GAO) recently issued the second of three reports on the Low-Income Housing Tax Credit program entitled, “Low Income Housing Tax Credit: Some Agencies’ Practices Raise Concerns and IRS Could Improve Noncompliance Reporting and Data Collection.” The GAO’s review of the LIHTC program was requested by Senator Chuck Grassley, who serves as Chairman of the Senate Judiciary Committee.
The National Low Income Housing Coalition recently released its “Out of Reach 2016” housing report. The annual report documents the gap between wages and housing prices across the country. The report finds that in no state, metro area, or county can a full-time worker afford a modest two-bedroom apartment with a job paying the prevailing minimum wage.
U.S. Senator Maria Cantwell recently visited a site in Vancouver, Wash., to promote the Affordable Credit Improvement Act of 2016. The bill would expand low-income housing tax credits by 50 percent. Tax credits are one of the funding tools—the most effective tool, the Washington Democrat said—used to build new affordable housing.
A recent study by Rebecca Diamond and Timothy McQuade of Stanford University Graduate School of Business for the National Bureau of Economic looked at the neighborhood impact of multifamily housing funded by low-income housing tax credits. They found that crime rates fall and property values rise when subsidized housing is built in a poor neighborhood.
Senator Maria Cantwell (D-WA) is seeking personal stories of individuals and families who have struggled to find affordable housing and/or have experienced homelessness. Her office is looking for a large volume of stories to help demonstrate to her fellow legislators the widespread and urgent need to invest more federal resources in affordable housing.
A report by the American Council for an Energy-Efficient Economy titled “Lifting the High Energy Burden in America’s Largest Cities: How Energy Efficiency Can Improve Low Income and Underserved Communities” found that low-income households, renters, and African-American households face greater energy cost burdens than higher income households, homeowners, and white households....
RSS