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Report: Pandemic, Racial Injustice, Climate Change Magnify Housing Crisis

November 24, 2020    

Despite low interest rates and continued growth in some sectors, the health and economic consequences of COVID-19 coupled with racial tensions and climate change across the nation have exacerbated the rental supply and affordability crises, according to the recent 2020 State of the Nation’...

IRS Extends Deadline to Apply for EIPs

October 29, 2020    

The Consumer Financial Protection Bureau (CFPB) has announced that the IRS has extended to Nov. 21 the deadline to apply for a CARES Act Economic Impact Payment (EIP) for people who don’t normally file income taxes. The deadline had been Oct. 15 for eligible people to apply for their...

CDC Issues Eviction Ban FAQs

October 29, 2020    

On Oct. 9, the CDC issued FAQs for the eviction moratorium in place from Sept. 4 through Dec. 30. The FAQs were issued jointly by the CDC, HUD, the Department of Health and Human Services (HHS), and the Department of Justice (DOJ) to clarify outstanding questions related to the declaration used...

Disaster Relief Bill Includes Increased LIHTC Allocation

September 30, 2020    

Senate Finance Committee ranking member Ron Wyden (D-Ore.), along with Senators Jeff Merkley (D-Ore.), Dianne Feinstein (D-Calif.), Patty Murray (D-Wash.), and Kamala Harris (D-Calif.), recently introduced a bill in the Senate to offer tax relief to individuals, businesses, and states affected...

CBPP Launches Campaign to Help People Get Stimulus Checks

September 30, 2020    

The Center on Budget and Policy Priorities (CBPP) recently launched a Final 30 Days Push campaign to help eligible people apply for their Economic Impact Payments (EIPs), better known as “stimulus checks,” before the Oct. 15 deadline. According to the IRS, there are roughly nine...

NCSHA: Renters Will Owe Up to $34B in Back Rent by January

September 30, 2020    

U.S. renters will owe up to $34 billion in past-due rent by January, increasing eviction filings and imposing punishing financial hardship on millions in just a few months, according to a recent report by the National Council of State Housing Agencies (NCSHA). The report estimates roughly 10...

Senate Democrats' Economic Justice Act Includes LIHTC Provisions

July 30, 2020    

Senate Democrats recently announced a proposal to invest $350 billion in communities of color, including specific policies that would increase investments in affordable housing and promote racial equity in homeownership.

The Economic Justice Act proposes to provide communities of color...

Housing Cost Burden for Low-Income Renters Spiked in Last Two Decades

July 30, 2020    

The U.S. Government Accountability Office (GAO) recently reported changes in renter households and affordability from 2001 to 2017. The report, “As More Households Rent, the Poorest Face Affordability and Housing Quality Challenges,” is the first in a GAO series that aims to provide...

FHFA Housing Goals to Remain Same in 2021

July 30, 2020    

Because of the economic uncertainty related to the ongoing pandemic, the Federal Housing Finance Agency (FHFA) recently proposed that its 2021 housing goals remain at the levels that they were for 2018–2020. The proposal establishes housing goals for single-family and multifamily housing...

Follow Insurance Notice Requirements to Boost Chance of COVID-Related Payout

June 11, 2020    

Businesses seeking to recover coronavirus-related losses under their business interruption and property insurance policies have had difficulty in doing so because of questions as to whether their policies cover such losses. How those coverage questions will be resolved remains an open question,...

Senate Finance Committee Details LIHTC Legislative Priorities

June 11, 2020    

Senator Ron Wyden of Oregon, the ranking member of the Senate Finance Committee, recently released a list of affordable housing priorities he will push for in the next round of COVID-19 relief legislation. His priorities are directed toward supporting LIHTC sites. Wyden’s focus on...

HUD: LIHTC Program Continues to Help Vulnerable Households

April 15, 2020    

In late March, HUD released the latest annual report that analyzes LIHTC household data collected as a result of the Housing and Economic Recovery Act (HERA) passed in 2008. Among other things, HERA requires each housing finance agency (HFA) that administers the LIHTC to submit certain...