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NAHMA Grassroots Alert Center

Ask Your Congressional Representatives to Cosponsor Important LIHTC Legislation H.R. 3661 and S. 1989 (December 15, 2011)

Yesterday, Congressmen Pat Tiberi (R-OH) and Richard Neal (D-MA) introduced H.R. 3661, a bill that would permanently extend the flat 9 percent credit rate and create a flat 4 percent credit rate for allocated LIHTCs.  The bill currently has 7 cosponsors including: Vern Buchanan (R-FL); Emmanuel Cleaver (D-MO); Joseph Crowley (D-NY), Jim Gerlach (R-PA); Bill Pascrell (D-NJ); Charles Rangel (D-NY); and Lee Terry (R-NE). 

Additionally, Senators Maria Cantwell (D-WA) and Olympia Snowe (R-ME) introduced S. 1989 which is the Senate version of the same legislation.  The Senate version currently has 9 cosponsors including: Jeff Bingaman (D-NM); Scott Brown (R-MA); Benjamin Cardin (D-MD); Susan Collins (R-ME); Mike Crapo (R-ID); John Kerry (D-MA); Robert Menendez (D-NJ); Bill Nelson (D-FL); and Bernard Sanders (I-VT).

NAHMA supports these bills.  To that end, we would ask you to contact your Congressional representatives ASAP and encourage them to cosponsor H.R. 3661 and S. 1989 in their respective Chambers.  Please ask your Congressmen to contact Brad Bailey in Congressman Tiberi’s office at 202-225-5355 and Senators should contact Eric Gulick in Senator Cantwell’s office at 202-224-3441 if interested in cosponsoring the bills.

For information on contacting your Congressional representatives, please visit: http://www.nahma.org/content/grassroots.html

The 9 percent flat rate credit for new construction and substantial rehabilitation LIHTCs, which was authorized by the Housing and Economic Recovery Act of 2008, is set to expire next year.  The 9 percent flat rate credit has successfully removed the uncertainty and financial complexity of the LIHTC floating credit rate, simplified state administration, and facilitated development of affordable housing after HERA’s enactment.  If the flat rate credit is not extended, affordable housing developments will need to be underwritten at the floating credit rate, which would mean a sudden and substantial reduction in the amount of equity that a development could receive for its LIHTC allocation.  In the current budget environment where gap financing from HOME, CDBG, and other local sources are at risk, such a cut in equity would make the development of affordable housing more difficult.

Furthermore, applying a fixed credit rate for the property acquisition LIHTC at no less than 4 percent would similarly remove the uncertainty and financial complexity of the floating rate system, simplify state administration, and facilitate preservation of affordable housing at little or no cost to the federal government.

Therefore, we believe the 9 percent flat credit rate for new construction and rehabilitation LIHTCs should be extended indefinitely and a similar flat credit rate should be created for property acquisition LIHTCs.

For additional talking points on the bills, please visit: http://www.nahma.org/Leg%20area/National%20Consensus%20Letter%20LIHTC%20ACTION%208-26-11_FINAL.pdf

Please let me know if you have any questions about these bills or need assistance contacting your representatives.  Thank you.

Section 202 Congressional Call-in Today! (November 8, 2011)

Our industry colleagues at LeadingAge are holding a Congressional Call-in today to request additional funding for the Section 202 Elderly Housing Program.  You may visit their call-in page at http://www.leadingage.org/call_congress.aspx for more information (including LeadingAge’s message and samples for your social media outlets).

Congress is currently working on the final language for the FY 2012 Transportation-HUD Appropriations legislation.  In H.R. 2112, which the Senate approved last week, the Section 202 account received $370 million, which only covers existing 202 contracts and service coordinators.  There would be no money left over for the construction of new 202 units.

Please request your Representatives to support at least $600 million for the Section 202 account in order to continue new construction of Section 202 units for the growing senior population.

Please let me know if you have any questions regarding this initiative.  Thank you.

Call Your Senators TODAY and Request Adequate Funding for Multifamily Housing Programs for FY 2012
(October 31, 2011)

Tomorrow, the Senate will vote on a minibus appropriations bill, H.R. 2112, which provides funding for the Agriculture, Transportation-HUD, Commerce, Justice, and Science appropriations accounts for FY 2012.  Although multifamily rental program funding cuts in FY 2012 were significantly less than expected, the Senate proposed FY 2012 appropriations for multifamily new construction and rehabilitation programs are still below FY 2011 levels. 

NAHMA strongly encourages you to call your Senators TODAY, request to speak with their staffer that handles appropriations issues, and urge them to support an appropriations bill that provides:

  • Full 12-month funding for:
    • Section 202 and 811 PRACS;
    • Tenant-based Section 8;
    • Project-based Section 8; and
    • Rural rental assistance contracts;
  • Increased funding for:
    • HOME;
    • CDBG;
    • Section 515;
    • The Rural Multifamily Housing Revitalization Program; and
    • Capital advances for new construction of Section 202 and 811 units;
  • Continued funding for the Section 538 program;
  • An extension of the M2M mortgage restructuring program through September 30, 2015; and
  • Continued funding for limited English proficiency (LEP) technical assistance; and
  • Does not eliminate the required October 1 publication date of HUD FMRs from statute.

We would also encourage you to ask your Senators to OPPOSE Coburn Amendment 800 to H.R. 2112, which would cut funding for USDA-Rural Development programs by 40 percent across the board.

While H.R. 2112 currently provides full-funding for Section 202 and 811 PRACS, tenant-based Section 8, project-based Section 8, and rural rental assistance contracts, new construction and rehabilitation programs—Section 515, the Rural Multifamily Housing Revitalization Program, HOME, CDBG, and Section 202 and 811 capital advances— would receive significant cuts below FY 2011 levels under the legislation. 

H.R. 2112 also contains an extension of HUD’s Mark-to-Market (M2M) mortgage restructuring authority.  In addition, H.R. 2112 currently contains language that would eliminate a statutory requirement that HUD must publish its fiscal year fair market rents (FMR) by or on October 1, which NAHMA and industry colleagues oppose.

For detailed talking points on these issues to discuss with or send to your Senators or their staff, please visit: http://www.nahma.org/Leg%20area/NAHMA%20FY%202012%20THUD%20Approps%20Talking%20Points.pdf

Please visit NAHMA’s Grassroots website for information on contacting your Senators: http://www.senate.gov/general/contact_information/senators_cfm.cfm

Please let me know if you have any questions or require assistance contacting your Senators’ offices.  Thank you.

 

Ask Senators to OPPOSE Coburn Amendment No. 792 to HR 2112 TODAY (October 20, 2011)
Dear NAHMA member,

As the Senate proceeds this week with the consideration of H.R. 2112—the Agriculture, T-HUD, and Commerce Appropriations minibus—NAHMA has learned that Sen. Tom Coburn (R-OK) is requesting a vote on an amendment that would negatively affect affordable housing providers and low-income tenants.

Senator Coburn's Amendment 792 to H.R. 2112 would deny payments to persons or entities receiving HUD payments for properties assisted or insured by HUD if the property:

  1. Is designated as “troubled” in HUD’s Online Property Integrated Information System [which HUD calls the Online Property Integrated Information Suite] for “life threatening conditions” or “poor” physical condition; and
  2. Has been on the OPIIS "troubled" properties list for “life threatening conditions” or “poor” physical condition at least one other time during the past five years.

NAHMA would request you to call your Senators TODAY (10/20), request to speak with the staff member that handles appropriations, and ask them to oppose Coburn’s Amendment No. 792 to H.R. 2112. Talking points on this issue are available below.

For information on contacting your Senators, please visit: http://www.senate.gov/general/contact_information/senators_cfm.cfm

Coburn Amendment 792 Talking Points

NAHMA is concerned that this amendment has the potential for far-reaching unintended consequences as a result of its overly-broad and vague language.

First, HUD already has a number of options to address properties determined to be in “poor” physical condition, which include, but are not limited to suspension or termination of housing assistance payments. It is important to note that in the Office of Housing’s Multifamily programs, all exigent health and safety hazards MUST be corrected within 72 hours of detection.

Likewise, regulations are already in place which require HUD staff to refer properties with REAC physical inspection scores below 30 to the Departmental Enforcement Center.  The amendment directs HUD to terminate rental payments based on a listing in a little known internal HUD system, which is not transparent to property owners, seems to offer no opportunity for due process, and does nothing to create additional housing opportunities for low-income families.

We would also respectfully point out that many of the examples Senator Coburn offered in his floor statement to support Amendment 792 are either inapplicable or are already being addressed by HUD. For instance, the Senator cited abuses in public housing programs as arguments in favor of the amendment.  OPIIS, however, is an internal HUD system for use by HUD staff to monitor multifamily properties regulated by the Office of Housing.  It does not collect information about the physical condition of public housing.  

Likewise, the Senator mentions HUD paying rental assistance on behalf of deceased individuals. Assisted property owners and public housing agencies are required to use the Enterprise Income Verification (EIV) System as third party verification of resident’s income.  EIV provides access to various interagency databases.  Through EIV, owners, management agents and PHAs run “deceased tenant” reports, which checks information about recent deaths from the Social Security Administration against the names and social security numbers of the property’s residents.  Use of EIV has been an effective tool to ensure that the proper subsidy is directed to qualified households and to ensure that subsidies are not paid on behalf of deceased tenants.

Please let me know if you have any questions regarding Amendment 792 or any other questions about H.R. 2112.  Thank you very much for your consideration.

Call Your Senators and Request Adequate Funding for Multifamily Housing Programs for FY 2012 (October 17, 2011)

Today, the Senate will begin considering a joint appropriations bill that provides funding for the Agriculture and Transportation-HUD appropriations accounts for FY 2012.  Although funding cuts in FY 2012 were significantly less than expected, the Senate proposed FY 2012 appropriations for multifamily new construction and rehabilitation programs are still below FY 2011 levels. 

While the Senate bill provides full-funding for Section 202 and 811 PRACS, tenant-based Section 8, project-based Section 8, and rural rental assistance contracts, new construction and rehabilitation programs—Section 515, the Rural Multifamily Housing Revitalization Program, HOME, CDBG, and Section 202 and 811 capital advances— received significant cuts below FY 2011 levels. 

HUD’s Mark-to-Market (M2M) mortgage restructuring authority is also in need of an extension because it expires on September 30, 2011.  In addition, the Senate bill currently contains language that would eliminate a statutory requirement that HUD must publish its fiscal year fair market rents (FMR) by or on October 1, which NAHMA and industry colleagues oppose.

NAHMA strongly encourages you to call your Senators TODAY, request to speak with their staffer that handles appropriations issues, and urge them to pass a FY 2012 Agriculture and Transportation-HUD Appropriations bill that contains:

  • Full 12-month funding for:
    • Section 202 and 811 PRACS;
    • Tenant-based Section 8;
    • Project-based Section 8; and
    • Rural rental assistance contracts;
  • Increased funding for:
    • HOME;
    • CDBG;
    • Section 515;
    • The Rural Multifamily Housing Revitalization Program; and
    • Capital advances for new construction of Section 202 and 811 units;
  • Continued funding for the Section 538 program;
  • An extension of the M2M mortgage restructuring program through September 30, 2015; and
  • Continued funding for limited English proficiency (LEP) technical assistance; and
  • Does not eliminate the required October 1 publication date of HUD FMRs from statute.

For detailed talking points on these issues to discuss with or send to your Senators or their staff, please visit: http://www.nahma.org/Leg%20area/NAHMA%20FY%202012%20THUD%20Approps%20Talking%20Points.pdf
Please visit NAHMA’s Grassroots website for information on contacting your Senators: http://www.nahma.org/content/grassroots.html

Please let me know if you have any questions or require assistance contacting your Senators’ offices.  Thank you.

Call Your Representatives and Request Adequate Funding for FY 2012 HUD Appropriations (September 23, 2011)

The House and Senate Appropriations Committees have released their proposals for funding HUD programs for FY 2012.  Although funding cuts in FY 2012 were significantly less than expected, the proposed FY 2012 appropriations are still below FY 2011 levels. 

While the bills provide full-funding for Section 202 and 811 PRACS, tenant-based Section 8, and project-based Section 8 12-month rental assistance contracts, new construction and rehabilitation programs—HOME, CDBG, and Section 202 and 811 capital advances— received significant cuts below FY 2011 levels.  HUD’s Mark-to-Market (M2M) mortgage restructuring authority is in need of an extension because it expires on September 30, 2011.  In addition, the Senate FY 2012 T-HUD bill contains language that would eliminate a statutory requirement that HUD publish fiscal year fair market rents (FMR) by or on October 1.

NAHMA strongly encourages you to call your Congressional Representatives TODAY, request to speak with their staffer that handles appropriations issues, and urge them to pass an FY 2012 Transportation-HUD Appropriations bill OR continuing resolution that contains:

  • Full funding for: Section 202 and 811 PRACS, tenant-based Section 8, and project-based Section 8 12-month rental assistance contracts;
  • Continued capital advances for new construction of Section 202 and 811 units;
  • At least $1.5 billion for HOME;
  • An extension of the M2M mortgage restructuring program through September 30, 2015; and
  • Continued funding for LEP technical assistance; and
  • Does not eliminate the required October 1 publication date of HUD FMRs from statute.

For detailed talking points on these issues to discuss with or send to your Representatives or their staff, please visit: http://www.nahma.org/Leg%20area/NAHMA%20FY%202012%20THUD%20Approps%20Talking%20Points.pdf

Please visit NAHMA’s Grassroots website for information on contacting your Representatives: http://www.nahma.org/content/grassroots.html

Please let me know if you have any questions or require assistance contacting your Representatives’ offices.  Thank you.

Contact Your Senators and Have Them Sign on to the Kohl-Schumer 202 and 811 Support Letter (June 1, 2011)

Please contact your Senators this week and urge them to sign on to Senator Herb Kohl (D-WI) and Senator Chuck Schumer’s (D-NY) letter to Senate Appropriations Transportation-HUD Subcommittee leadership requesting at least $757 million for the Section 202 Supportive Housing for the Elderly program and $196 million for the Section 811 special needs housing program, the levels proposed by President Obama’s FY 2012 budget request. The deadline for additional Senators to sign onto the Kohl/Schumer letter is Tuesday, June 7. 

To sign onto the Kohl/Schumer letter, ask your Senator to contact Karolina Arias in Senator Kohl’s office (202-224-0086).

A copy of the letter is attached to this email.

Tell your Senators that supporting this letter is the first step to help ensure that Senate Appropriations Transportation-HUD Subcommittee Chairwoman Patty Murray (D-WA) and Ranking Member Susan Collins (R-ME) will recommend appropriations levels that will provide adequate funding for the Section 202 and 811 programs and ensure new construction of units for elderly and special needs Americans in FY 2012.

For information on contacting your Senator, please click here: http://www.senate.gov/general/contact_information/senators_cfm.cfm

Follow Up: Sharing Details on your Successful HOME Projects with NAHMA and Congress (May 18, 2011)

As a follow up to NAHMA’s request for our members to share details on the successful HOME projects with NAHMA and Congress (please see below), we would invite you to visit our Grassroots Advocacy Action Center webpage for the HOME program, located here: http://www.nahma.org/content/grassroots_HOME_Program.html.

We have already provided a number of useful resources on the website, including the original Washington Post articles on the HOME program, HUD’s blog—the HUDdle—follow up, among others.  Please check the website often.  We plan to update it with talking points and NAHMA member success stories from the HOME program as they become available.

Again, please remember to send in you examples of your successful projects developed using HOME funds, with location, photographs and other details to me (lauren.eardensohn@nahma.org) and contact your Congressional Representatives by COB Tuesday May 30.

If you would like to contact your Senators, please visit: http://www.senate.gov/general/contact_information/senators_cfm.cfm

If you would like to contact your Member of the House of Representatives, please visit: http://www.house.gov/writerep/

Thank you.

Sharing Details on your Successful HOME Projects with NAHMA and Congress (May 18, 2011)

A series of front-page articles run this week in The Washington Post reporting on alleged mismanagement of HUD’s HOME funds has raised alarms throughout the affordable housing industry, HUD and Congress. The articles described HOME projects that were never completed and/or never begun. The reporter described in detail how developers and nonprofits allegedly received HOME funds but did not provide the promised housing, and attributed the problems to lax oversight on the part of housing agencies in awarding the funds and monitoring the projects. The reporter also noted several times that HUD does not have authority to compel repayment of HOME funds.

Although the alleged failed deals which were the subjects of the articles represent a small percentage of the HOME portfolio, they have already trigged bipartisan calls for congressional investigations. The timing of the articles comes at a time when HOME was already facing the possibility of severe cuts for the FY 2012 appropriations cycle.

NAHMA believes it is important to remind Congress that HOME is a successful program that has helped provide quality apartment communities for thousands of families across the country. To succeed in this effort, we need your help.

Specifically, we would like to ask that members:

* Send NAHMA examples of your successful projects developed using HOME funds, with location, photographs and other details

* Invite your Congressmen to visit your successful HOME projects when they are in their district

We believe timing is important – to counter the negative perceptions on the HOME program as soon as possible – so we would ask that you send your information to NAHMA staff member Lauren Eardensohn, at Lauren.Eardensohn@nahma.org, as soon as possible, or by May 30, and to follow up with your Congressmen in that time frame as well.

Contact Your Representatives And Request Full Funding For Multifamily Housing Programs (March 4, 2011)

This week, Congress passed a two-week extension to the FY 2011 continuing resolution (CR).  The CR contains funding to allow all government agencies and programs to continue operating at FY 2010 appropriations levels through March 18, 2011, which will give Congress more time to pass a full year continuing resolution for the remainder of FY 2011. 

During the next two weeks, the House and Senate will try to work out a compromise on H.R. 1, the Full Year FY 2011 CR.  NAHMA is becoming concerned over Congress’s inability to complete a long-term CR.  Short term CRs and continued funding at FY 2010 levels may delay housing assistance payments (HAP) for housing choice voucher, project-based Section 8, Section 202 and 811, and rural rental assistance contracts.  They may also provide only partial funding for HAPs.  NAHMA continues actively urging Congress to pass a long term CR that provides full funding for all rental assistance programs.

NAHMA urges our members to contact their Representatives in both the House and the Senate and let them know you strongly oppose cuts to multifamily housing programs in FY 2011.  Please let them know that it is essential to finalize the FY 2011 appropriations for HUD and USDA-Rural Housing Services and to provide:

  • Full funding for all rental assistance programs, including
  • All 12-month project-based Section 8 contracts;
  • All Housing Choice Voucher contract renewals;
  • PRAC contracts for Section 202 elderly housing and Section 811 housing for the disabled programs;
  • Section 521 Rural Rental Assistance contracts; and
  • Continued funding for new construction under the Section 202 and Section 811 programs.

Please contact me (lauren.eardensohn@nahma.org) if you need additional talking points.
If you would like to contact your Senators, please visit: http://www.senate.gov/general/contact_information/senators_cfm.cfm
If you would like to contact your Member of the House of Representatives, please visit: http://www.house.gov/writerep/
Meanwhile, NAHMA will continue to work with Congress to ensure adequate funding is appropriated to fully fund all 12-month contracts for tenant-based Section 8, project-based Section 8, Section 202 and 811 PRACs, and rural rental assistance in H.R. 1.
Thank you for your consideration.

Contact Your Representatives And Request Full Funding For Multifamily Housing Programs (February 14, 2011)

Last Friday night, the House Appropriations Committee introduced H.R. 1, the FY 2011 Full Year Continuing Resolution Act.  Although the act provides full funding for project-based Section 8 and rural rental assistance contracts, it does not provide full funding to all multifamily housing programs including: tenant-based Section 8 vouchers and Section 202 and 811 new construction accounts.  The bill also significantly cuts spending for rural housing programs: Section 515, Section 538, and the Multifamily Housing Preservation Demonstration Program.  The bill also significantly cuts spending for the CDBG and HOPE VI programs. The House plans to vote on H.R. 1 this Thursday.

We urge our members to contact their Representatives in both the House and the Senate and let them know you strongly oppose cuts to multifamily housing programs in FY 2011.  Please let them know you support:

*Full funding for all rental assistance programs, including:

  • All 12-month project-based Section 8 contracts;
  • All Housing Choice Voucher contract renewals;
  • PRAC contracts for Section 202 elderly housing and Section 811 housing for the disabled programs;
  • Section 521 Rural Rental Assistance contracts;

*Continued funding for new construction under the Section 202 and Section 811 programs;
*$500,000 for LEP translations funding; and
*Funding of all other USDA and HUD multifamily housing programs at FY 2010 levels

If you would like to contact your Senators, please visit: http://www.senate.gov/general/contact_information/senators_cfm.cfm

If you would like to contact your Member of the House of Representatives, please visit: http://www.house.gov/writerep/

S. 3793: The Job Creation and Tax Cuts Act of 2010 (11/16/10)

During the next few weeks, the Senate is expected to consider the tax extenders legislation S. 3793, the Job Creation and Tax Cuts Act of 2010.  It is important that you contact your Senators and let them know how important the affordable housing provisions in the tax extenders bill are to improving to your properties and to increasing affordable housing opportunities in their States.

NAHMA urges you to contact your Senators today and request they contact Senate Finance Committee Chairman Max Baucus (D-MT) and Ranking Member Charles Grassley (R-IA) in support of the following provisions in S. 3793:

  • The extension of the 9 percent LIHTC cash exchange program to 2010 housing credits;
  • An extension of the GO Zone LIHTC placed in services date through December 31, 2012; and
  • $1 billion for the Housing Trust Fund, with $65 million in project-based vouchers to be used in conjunction with grants from the Housing Trust Fund.

Please also request your Senators to voice opposition on the inclusion of the carried interest provision as an offset for the tax extensions in the legislation to the Chairman and Ranking Member.  Please see below for a summary of all these provisions.
When you call, please request the staff member that handles housing or tax issues and ensure you get their name.  Please request them to follow up with you on the Representative’s position.

For information on contacting your Senator, please visit: http://www.senate.gov/general/contact_information/senators_cfm.cfm

Summary of the Affordable Housing Provisions

The extension of the housing credit cash-exchange program (Section 1602 from the American Recovery and Reinvestment Act (ARRA)) to 2010 housing credits for an additional year would help stabilize the LIHTC program.  This, in turn, will move affordable housing projects forward by providing equity investment, preserve more existing affordable multifamily rental housing, and expand the stock of affordable multifamily rental housing available to Americans.  

Extending the GO Zone LIHTC placed in service date through December 31, 2012 will give developers and owners additional time to create new and rehabilitate existing affordable housing in gulf opportunity zone that have been affected by disasters like Hurricane Katrina.

Funding the Housing Trust Fund will provide additional money for the creation of new affordable housing for low-income, working
Americans.

The carried interest proposal in S. 3793 would raises taxes for real estate partnerships, like those used to develop multifamily housing.  “Carried interest” refers to the general partner’s share of residual profit when a property is sold.  Under this provision of the act, carried interest would no longer be taxed as capital gains—a 15 percent tax rate—but as regular income—a 35 percent tax rate.  The tax increase would impede the financing of future multifamily developments and undermine the underwriting of established deals, resulting in job loss, decreased economic benefits from future housing development, and reduced property tax revenues for state and local governments.

Please visit the NAHMA grassroots webpage for additional information on these provisions: http://www.nahma.org/content/grassroots.html

H.R. 4868: The Housing Preservation and Tenant Protection Act (7/26/10)

The House Financial Services Committee plans to mark-up H.R. 4868, the Housing Preservation and Tenant Protection Act, this Tuesday, July 27, at 10 AM EST.

At this point in time, the House Financial Services Committee has not removed the provisions NAHMA opposes from the legislation. 

We urge NAHMA and AHMA members to contact your Congressional Representatives that sit on the House Financial Services Committee (please see the list below for names and contact information), and tell them you oppose H.R. 4868 as long as it contains the following provisions:

  • Section 107, the federal right of first refusal which would allow HUD or its assignee multiple opportunities to purchase an assisted property before it could be sold to a third party;
  • Section 108, providing a vague blanket exemption of state and local preservation laws from federal pre-emption;
  • Section 302, which allows HUD to withhold assistance and tenants to withhold their rent contributions when violations of housing standards or program requirements arise;
  • Section 303, which allows residents to enforce housing agreements with HUD through lawsuits; and
  • Section 304, which allows residents to access owners’ private and sensitive information, including 2530/APPS filings, on building documents.

Please urge your Representative to ask Committee Chairman Barney Frank to remove these harmful sections from the bill.  Please call today, July 26.  The legislation is being considered by the Committee tomorrow morning.

When you call, please request the staff member that handles housing issues and ensure you get their name.  Please request them to follow up with you on the Representative’s position.
For talking points on H.R. 4868, please see: http://www.nahma.org/Leg%20area/HR%204868%20one%20pager.pdf

For a copy of a grassroots letter to your representative detailing your opposition to the legislation with the offensive provisions, please click here: http://www.nahma.org/Leg%20area/HR%204868%20NAHMA%20Member%20Grassroots%20Letter.doc

If you have any questions on contacting your Representative, please email or call Lauren (lauren.eardensohn@nahma.org or 703-683-8630 x 16) for more information.

For more information on the mark-up, please click here: http://financialservices.house.gov/Hearings/hearingDetails.aspx?NewsID=1340

For the live webcast, please click here on Tuesday, July 27, at 10 AM EST: http://financialserv.edgeboss.net/wmedia-live/financialserv/16489/300_financialserv-qwertyuiop_070131.asx

H.R. 4213: American Workers, State, and Business Relief Act (5/19/10)

Congress is currently reconciling the differences between the House version of H.R. 4213, the Tax Extenders Act, and the Senate version of H.R. 4213, the American Workers, State, and Business Relief Act.  Both of these bills contain tax provisions that would significantly affect the operation of the affordable housing industry.  The House of Representatives expects to begin considering this bill either tomorrow or Friday.

NAHMA is requesting that you contact your Congressional Representatives in both the House and the Senate ASAP and ask that, in the reconciled version of H.R. 4213, they:

  • Oppose the inclusion of the “carried interest” proposal as a tax offset;
  • Support the extension of the Gulf Opportunity (GO) Zone Low-income housing tax credits (LIHTCs); Support the inclusion of the following A.C.T.I.O.N proposals:
  • Increase the Housing Tax Credit carry-back for existing buildings and new construction for up to five years;
  • Extend the Housing Credit cash-exchange program (Section 1602) from the American Recovery and Reinvestment Act (ARRA) for one more year to 2010 housing credits;
  • Allow GO Zone and 4 percent tax credits to be eligible for the cash-exchange program; and
  • Allow the LIHTC potential investor base to be expanded to pass-through entities – LLCs and Subchapter S corporations – and closely held corporations; and
  • Support funding for the Housing Trust Fund.

If you cannot directly speak with your representative, please request the staff member that handles tax issues in the office. 

UPDATE:

Congress has decided to merge elements of the jobs bill with H.R. 4213, including providing funding for the Housing Trust Fund.  Please contact your Representatives and tell them you support including funding for the Housing Trust Fund in H.R. 4213.

The provision to clarify the GO Zone (as well as Midwest Disaster) credits qualifying for the Tax Credit Exchange Program (TCEP) has been dropped out of the American Workers, State, and Business Relief Act of 2010 (H.R. 4213).  Please contact your Representatives and tell them you support returning the GO Zone eligibility for the cash-exchange program to H.R. 4213.

Congressman Levin and Senator Baucus told the press that a form of the “carried interest” proposal that would phase in a tax hike over time would be included in H.R. 4213.  This tax increase would affect real-estate partnerships, like those used to develop multifamily housing.  “Carried interest” refers to the general partner’s share of residual profit when a property is sold.  Under this provision of the act, carried interest would no longer be taxed as capital gains—a 15 percent tax rate—but as regular income—a 35 percent tax rate.  The tax increase would impede the financing of future multifamily developments and undermine the underwriting of established deals, resulting in job loss, decreased economic benefits from future housing development, and reduced property tax revenues for state and local governments.   Please contact your Representatives and tell them you oppose the inclusion of the “carried interest” proposal in H.R. 4213 if it affects real-estate partnerships.
For information on contacting your Representatives, please visit:

NAHMA has provided a grassroots letter on H.R. 4213 for members to use when contacting their:

For more information on the carried interest proposal, please click here: http://www.nahma.org/Leg%20area/NAHMA%20Carried%20Interest%20One%20Pager.pdf
NAHMA also has a one-page brief on the A.C.T.I.O.N. proposals at: http://www.nahma.org/Leg%20area/ACTION%20LIHTC%20Proposals%20Talking%20Points.pdf

H.R. 4868: The Housing Preservation and Tenant Protection Act (4/30/10)

Last month, House Financial Services Committee Chairman Barney Frank introduced H.R. 4868, the Housing Preservation and Tenant Protection Act.  While we strongly support the goal of preserving the affordable housing stock, NAHMA cannot support H.R. 4868 as introduced.  H.R. 4868 includes five sections that we believe will drive away equity investment, infringe on owners’ property rights, inappropriately inject HUD into landlord-tenant law, and require HUD to release owners’ personal and proprietary information. 

NAHMA is requesting our members to contact their Congressional Representatives as soon as possible and ask the Representatives to speak with Chairman Frank and request the removal of Sections 107, 108, 302, 303, and 304 from H.R. 4868.

NAHMA has provided a letter template for our members to send to their Representatives at:  http://www.nahma.org/Leg%20area/HR%204868%20NAHMA%20Member%20Grassroots%20Letter.doc

Please edit the letter to include your Representative's name, your name, and your contact info before sending via mail, fax, or email.

If you would like to contact the office directly by phone or in person to discuss this issue, we have also provided talking points on H.R. 4868 at: http://www.nahma.org/Leg%20area/HR%204868%20one%20pager.pdf
To get information on contacting your Representatives, please visit: http://www.house.gov/writerep/
These documents are also available on the NAHMA Grassroots Webpage at: http://www.nahma.org/content/grassroots.html

Please let me know if you have any questions about sending these letters.  Thank you very much for your grassroots efforts to remove provisions that will not only work against successful preservation of affordable housing but also discourage private sector participation in HUD programs from H.R. 4868.

Section 202 and 811 FY 2011 Appropriations (4/13/10)

Please contact your Senators this week and urge them to sign on to Senator Herb Kohl (D-WI) and Senator Chuck Schumer’s (D-NY) letter to Senate Appropriations Transportation-HUD Subcommittee leadership requesting at least $825 million for the Section 202 Supportive Housing for the Elderly program and $300 million for the Section 811 special needs housing program.
The deadline for additional Senators to sign onto the Kohl/Schumer letter is Tuesday, April 20.  To sign onto the Kohl/Schumer letter, ask your Senator to contact Cara Goldstein in Senator Kohl’s office (202-224-0086) or Megan Richardson in Senator Schumer’s office (202-224-9533).

A copy of the letter is attached to this email.

Tell your Senators that supporting this letter is the first step to help ensure that Senate Appropriations Transportation-HUD Subcommittee Chairwoman Patty Murray (D-WA) and Ranking Member Christopher Bond (R-MO) will recommend appropriations levels that will provide adequate funding for the Section 202 and 811 programs and ensure new construction of units for elderly and special needs Americans in FY 2011.

For information on contacting your Senator, please click here: http://www.senate.gov/general/contact_information/senators_cfm.cfm

Section 202 and 811 FY 2011 Appropriations (4/7/10)

In the FY 2011 budget request, the Obama Administration called for a suspension of Section 202 and 811 capital advance funding for new development of supportive housing units until programmatic reforms were made.  We believe that eliminating funding for new 202 and 811 construction for the next five years will hurt the growing low-income elderly and special needs populations whose housing requirements far outweigh current unit availability.  Therefore, we are requesting NAHMA members to send letters to their Congressional Representatives supporting FY 2011 appropriations funding levels for the Section 202 and Section 811 programs in line with the FY 2010 appropriations—$825 million and $300 million respectively—and at least adjust the funding for inflation in the FY 2011 appropriations.

NAHMA has provided a letter template for our members to send to their Representatives at: http://www.nahma.org/Leg%20area/FY11%20Section%20202%20letter%20NAHMA%20member.doc

Please edit the letter to include your Representative's name, your name, and your contact info before sending via mail, fax, or email.
To get information on contacting your Representatives, please visit:

Please let me know if you have any questions about sending these letters.  Thank you very much for your grassroots efforts to maintain funding for new construction in the Section 202 and 811 programs.

Section 202 FY 2011 Appropriations (3/22/10)

Please contact your Congressional Representative this week and urge them to sign on to Congresswomen Shelly Moore Capito (R-WV) and Judy Biggert’s (R-IL) letter to House Appropriations Transportation-HUD Subcommittee leadership requesting at least $825 million for the Section 202 Supportive Housing for the Elderly Program.
The deadline for additional Representatives to sign onto the Capito/Biggert letter is today, March 22 at 1:00PM.  To sign onto the Capito/Biggert letter, ask your Representative to contact Nicole Austin (Nicole.austin@mail.house.gov) in Congresswoman Biggert’s office.

A copy of the letter is available below.

Tell your Representatives that supporting this letter is the first step to help ensure that House Appropriations Transportation-HUD Subcommittee Chairman John Olver (D-MA) and Ranking Member Tom Latham (R-IA) will recommend appropriations levels that will provide adequate funding for the Section 202 program and ensure new construction of units for elderly Americans in FY 2011.

For information on contacting your House Representative, please click here: http://www.house.gov/house/MemberWWW.shtml

 

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