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On December 1, the Internal Revenue Service (IRS) issued Revenue Ruling 2021-20 and Revenue Procedure 2021-43 providing guidance on the application of the permanent minimum 4 percent Housing Credit rate established for bond-financed buildings in the Consolidated Appropriations...
Last month, HUD announced $20 million in inaugural grants from its Eviction Protection Grant Program, the first of its kind for the Department. These grants will be awarded to legal service providers to assist in providing legal assistance to low-income tenants at risk of or subject to...
On December 2, the U.S House of Representatives passed H.R. 6119, the “Further Extending Government Act,” on a mostly partisan vote of 221-212. The legislation, a “continuing resolution” (“CR”) of funding levels from fiscal year 2021 (FY21), is the second CR of FY22 to extend funding designed to...
Current Issues
On August 24, the House voted on a party line vote of 220 - 212 to approve an historic $3.5 trillion budget resolution. It included $339 billion targeted to housing investments, which represents $7 billion more than the Senate authorized committee level. The budget resolution is only a framework and does not include details about how the authorization will be appropriated. On October 18, the Senate Appropriations Committee released the remaining nine fiscal year 2022...
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