- 2016 Transportation Housing and Urban Development Bill passed in the House of Representatives – funding for certain programs, such as section 8 has been increased, however according to Enterprise Community partners (see Budget chart), it underfunds other critical federal housing and community development programs by as much as $1.5 billion.
- The U.S. Treasury’s Community Development Financial Institutions Fund recently completed its final round of New Market Tax Credit (NMTC) allocations. NMTC are used to stimulate investment in low-income communities. Legislation is currently pending in both the House and the Senate to permanently extend this successful and popular program. A bipartisan dear colleague letter urging permanent extension of NMTC is currently circulating – CDFI Fund’s recent report highlights the effectiveness of the program between 2003 and 20013.
Tag Archives: U.S. Senate
Tuesday’s Regulatory & Legislative Round-Up
- Federal Housing Finance Agency issues update on the structure of a single mortgage backed security which will be sold by Fannie Mae and Freddie Mac to finance fixed rate mortgages backed by 1-4 unit properties.
- Minimum Housing Credit Rate Legislation has been introduced in the both the House and Senate, this legislation would permanently extend the 9% minimum tax credit for low income housing development in order to promote certainty and make the development of affordable housing ecomonically feasible.
