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Rental fees can increase cost burdens for renter households, who are often already spending a growing share of their income on rent due to a limited housing supply across the country.
HUD’s Office of Multifamily Housing Programs recently issued a memo, which removes the $25 million loan cap for the LIHTC Pilot Program. The pilot program streamlines processing for new construction [Section 221(d)(4)] and substantial rehabilitation [Section 220] transactions. HUD is lifting the cap on FHA loans to better align and incentivize borrowers...
On May 11, bipartisan groups of senators and representatives introduced the Affordable Housing Credit Improvement Act (AHCIA) of 2023 in the Senate and House. The legislation is sponsored by Senators Maria Cantwell (D-WA), Todd Young (R-IN), Ron Wyden (D-OR), and Marsha Blackburn (R-TN), along with Representatives Darin LaHood (R-IL), Suzan DelBene (D-WA), Brad Wenstrup (R-OH), Don Beyer (D-VA), Claudia Tenney (R-NY), and Jimmy Panetta (D-CA).
Senator Tim Kaine (D-VA) and Representative Scott Peters (D-CA) recently introduced the “Fair Housing Improvement Act” to protect veterans and low-income families from housing discrimination.
HUD’s Office of Fair Housing and Equal Opportunity (FHEO) recently announced a $3 million settlement regarding a complaint about housing discrimination against families with children. A complaint was brought against a California property management co...
The White House budget proposal seeks an increase to the LIHTC program. The fiscal 2024 plan calls for a $28 billion expansion in LIHTCs over 10 years as well as lowering the 50 percent bond test to 25 percent.
HUD recently announced that it plans to restore the 2013 “discriminatory effects” rule to the Fair Housing Act (FHA). HUD has submitted to the Federal Register the final rule, which rescinds a 2020 rule governing “disparate impact” claims and restores the 2013 discriminatory effects rule.
The Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB) are requesting public comment on background screening issues affecting individuals who seek rental housing in the United States, including how the use of criminal and eviction records and algorithms affect tenant screening decisions and may be driving discriminatory outcomes.
The Department of Treasury and Internal Revenue Service recently released IRS Notice 2023-17, which details a new bonus tax credit for certain low-income multifamily projects, including Low-Income House Tax Credit (LIHTC) projects, that include eligible solar or wind energy technologies.
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