Topic: Online Alerts

The Federal Housing Finance Agency (FHFA) recently announced that tenant protections will be included in new multifamily loan agreements beginning in February 2025. The tenant protections will be required for all multifamily properties financed by the federal enterprises known as Fannie Mae and Freddie Mac (the GSEs). The announcement marks a new era of tenant protections in federally backed multifamily housing.One level deeper: Covered housing providers will be required to provide tenants with the following:

The National Oceanic and Atmospheric Administration (NOAA) recently released its 2024 Atlantic Hurricane Season Outlook, and it is predicting an above-normal hurricane season. NOAA’s outlook is for overall seasonal activity and is not a landfall forecast. Hurricane season began on June 1 and will continue through Nov. 30. 

Last year, Senator Bob Casey (D-PA), Chairman of the U.S. Senate Special Committee on Aging, introduced the Visitable Inclusive Tax Credits for Accessible Living (VITAL) Act to address the housing affordability and accessibility crisis for people with disabilities. Senator Casey recently introduced the Boosting Tax Credits for Accessible Housing Act in the U.S. Senate. The bill is a stand-alone provision taken from the VITAL Act.

Fair housing testers working with Fair Housing Initiatives Program (FHIP) grantees and Fair Housing Assistance Program (FHAP) agencies are used to identify systemic biases in the housing industry. These testers mimic real-world housing transactions to uncover racial, gender, and other forms of discrimination.

The National Low Income Housing Coalition (NLIHC) recently released the latest version of its annual report, “The Gap: A Shortage of Affordable Homes.” Each year, the NLIHC measures the availability of rental housing affordable to extremely low-income households and other income groups. 

The House of Representatives recently passed a $78 billion tax bill, Tax Relief for American Families and Workers Act (H.R. 7024), with wide bipartisan support. The bill is the result of a deal struck by House Ways and Means Committee Chairman Jason Smith (R-MO) and Senate Finance Committee Chairman Ron Wyden (D-OR) after months of negotiation.

House Ways and Means Committee Chairman Jason Smith and Senate Finance Committee Chairman Ron Wyden recently announced a bipartisan and bicameral tax package deal to be introduced as The Tax Relief for American Families and Workers Act of 2024. If passed, it would revive three business tax credits, expand the child tax credit, and give a boost to low-income housing. The deal includes two LIHTC provisions from the Affordable Housing Credit Improvement Act (AHCIA). The AHCIA was last introduced in 2023, and it contained long-sought changes to the LIHTC program. 

Senate Finance Committee Chair Ron Wyden (D-OR), Senator Dan Sullivan (R-AK), and House Ways and Means Committee members Representatives Jimmy Panetta (D-CA) and Mike Carey (R-OH) recently introduced the Workforce Housing Tax Credit Act. If passed, the legislation would establish a new tax credit to produce affordable rental housing for households earning between 60 and 100 percent of the area median income (AMI). 

The increase for the 2024 per-capita multiplier ties the record set last year for the largest year-over-year increase without legislative cause since 2003.The Internal Revenue Service recently released Revenue Procedure 2023-34, which provides the 2024 per-capita and small-state minimum levels for the Low Income Housing Tax Credit and Private Activity Bonds. 

Every year during the last week of October, National Lead Poisoning Prevention Week (NLPPW) raises awareness about lead poisoning. HUD, the U.S. Environmental Protection Agency (EPA), and the Centers for Disease Control and Prevention (CDC), are working to raise awareness, provide resources, and encourage preventive actions to decrease childhood lead exposure during the week and beyond.