The Federal Housing Finance Agency (FHFA) has published the Annual Housing Report to Congress, which covers activities for 2019 relating to Fannie Mae and Freddie Mac’s (the Enterprises) housing goals performance, as well as the results of its evaluations and ratings of the Enterprises’ 2019 Duty to Serve performance. FHFA has determined that the Enterprises…
BROADCAST EMAIL – Regulatory Update The Internal Revenue Service (IRS) published a proposed rule in the October 29th Federal Register entitled, “Section 42, Low-Income Housing Credit Average Income Test Regulations.” Once finalized, the rule would provide guidance on implementation of the Average Income Tax (AIT), as established by the Consolidated Appropriations Act of 2018, which…
The IRS released Rev. Proc. 2020-42 that announces $3,105,001 of unused housing credit carryovers allocated to qualified states under § 42(h)(3)(D) of the Internal Revenue Code for calendar year 2020.
BROADCAST EMAIL – Regulatory Update On Friday, Rural Development’s (RD) Office Multifamily Housing (MFH) announced that, effective October 11, 2020, Becki Meyer, Byron Waters, Karissa Stiers, and Laurie Warzinski will become the first Regional Directors of MFH’s Field Operations Division. As you know, the new Field Operations Division was created as part of the recent…
CARH’s BROADCAST EMAIL – Legislative & Regulatory Update 1) President Signs into Law Continuing Resolution for FY 2021 Just after midnight today, President Trump signed into law H.R. 8337 – Continuing Appropriations Act, 2021 and Other Extensions Act (Public Law number has yet to be assigned). This legislation is a short-term Continuing Resolution (CR) for…
BROADCAST EMAIL – Regulatory Update 1) Counsel’s Corner Special – Final Rule or Final Word? HUD Finalizes New Disparate Impact Regulation On September 24, HUD published a Final Rule entitled, “HUD’s Implementation of the Fair Housing Act’s Disparate Impact Standard” in the Federal Register. Below, Harry J. Kelly, Esq., Partner at Nixon Peabody, LLP (CARH’s…
CARH’S BROADCAST E-MAIL – CARH News The August/September 2020 digital edition of CARH News, the Council for Affordable and Rural Housing’s (CARH) bimonthly digital newsletter, is now available online on CARH’s website, www.carh.org, or for viewing by clicking here. In this issue, you will find: PPP Loans and Hidden Tax Consequences CARH’s Executive Director on…
CARH Broadcast Email—Legislative Update As you know from CARH’s broadcast email yesterday, the Trump Administration, through the Centers for Disease Control, issued an Agency Order that imposes a moratorium on evictions, nation-wide, through at least December 31, 2020. The order is effective tomorrow, September 4th. This moratorium, together with Congress’ failure to act on…
BROADCAST EMAIL – Regulatory Update The Trump Administration, through the Centers for Disease Control and Prevention (CDC) last night issued a sweeping Agency Order (Order) preventing all residential landlords in the United States from evicting any resident for the duration of the COVID-19, at least until December 31, 2020. American Samoa is exempted because there have been…
CARH Broadcast Email—Legislative Update 1) Update on Congress and the Administration’s Action on COVID-19 Legislation On July 9, 2020, CARH sent a detailed broadcast email regarding the status of a variety of legislative items impacting the rural housing industry as the country attempts to deal with and recover from the coronavirus pandemic as well the…