Month: October 2019

On October 4, NCSHA published their updated Best Practice forms for the Housing Credit Program. These were revamped with the help of several state agencies and compliance experts. The revamped forms include:

On August 19, HUD published a proposed rule amending the Fair Housing Act’s disparate impact standard in the Federal Register. HUD indicates this proposed rule is due to the 2015 Supreme Court decision in the TDHCA vs. Inclusive Community Project, Inc. case. The rule would provide a framework to establish legal liability for practices that […]

Back in 2009, HUD issued Housing Notice 09-16 Exclusion from Annual Income of Temporary Employment from the U.S. Census Bureau excluding the temporary income received by residents from the U.S. Census Bureau.

On July 8, HUD released a memo regarding several rules on owners’ responsibilities towards residents when conducting inspections. The memo addresses the rules surrounding resident notification prior to entering a unit, documentation made available for the resident’s review, clarification on handling complaints and updated House Rules for assisted properties.

The Safe Housing for Families Act of 2019 (H.R. 1690) was passed by the House Financial Servcies Committee and will likely move to a full vote soon. The bill provides $300 million over 3 years to fund the installation and maintenance of carbon monoxide detectors in HUD assisted housing that have combusion fueled applicances. This […]

On July 1, the IRS issued a memo discussing the proper treatment of common area noncompliance indicating the eligible basis should be reduced for the taxable year in which it occurred rather than the applicable fraction.

The Save Affordable Housing Act of 2019 was introduced on June 25, 2019. The legislation was introduced by Sens. Ron Wyden (D-OR), Todd Young (R-IN), Ben Cardin (D-MD) and Sherrod Brown (D-OH) and includes a provision to eliminate the qualified contract option for future credit allocations. It also would retroactively amend the formula for existing […]

On June 5, HUD released the 2019 income limits for the HOME, CDBG, HOPWA, HTF and NSP programs. They are effective June 28, 2019.

On June 4, Senators Maria Cantwell (D-WA), Johnny Isakson (R-GA), Ron Wyden (D-OR) and Todd Young (R-IN) reintroduced the Affordable Housing Credit Improvement Act of 2019 (AHCIA). See article in the June 24, 2019 issue of The Compliance Monitor for a complete explanation of this important bill.

NCP Memberships expired on  December 31, 2019 but there is still time to renew for 2020!

On October 16 & 17, affordable housing professionals from all over the country descended Naples, FL to attend the 16th Annual National Compliance Professional Conference!