Congress’ anticipated Continuing Resolution will fund federal housing and homeless programs at FY 2016 levels until December 9. At the state level, housing advocates are sharing the alarming data released in the annual Residential Rental Cost Survey indicating a severe shortage in the supply of affordable rental homes, generating workforce challenges and undermining economic recovery for New Hampshire families. Click here to read the October Update.
A successful state legislative session closed with the signing of SB 533, appropriating $2 million to the Affordable Housing Fund for those with substance use disorders. Housing advocates were also pleased to see signs of progress at the federal level with the introduction of the Housing Opportunities Through Modernization Act in the US Senate as well as a LIHTC expansion proposal. For details on these and other topics, as well as reports and events of interest to NH housing advocates, click here.
Advocacy for inclusion of recovery housing in the state’s response to the substance use disorder crisis remains a priority of Housing Action NH’s work at the state level. At the federal level, members of NH’s congressional delegation have been leading the way on necessary reforms to rural housing programs to protect affordable units and tenants.
Click here for an update on these and other housing and homelessness topics.
The National Disaster Tax Relief Act of 2014, S.2233, was recently introduced in the Senate. In addition to providing tax relief for the communities impacted by Hurricane Sandy, this bill would also provide relief to all of the communities impacted by federally declared disasters in 2012 and 2013, as well as Hurricane Irene from 2011. New Hampshire is one of 22 states included in the bill, and would qualify for a one-time additional LIHTC allocation for Carroll and Grafton Counties of $1.45 million. Senator Shaheen has co-sponsored the legislation.
House Ways & Means Committee Chair Dave Camp (R-MI) released a discussion draft of a tax reform package that retains just three business tax expenditures – one of which is the Low Income Housing Tax Credit — while eliminating all others in Federal Code. While the broad tax reform proposal is considered a non-starter this session, the fact that the Housing Credit survived in this proposal is cause for optimism, and may serve to inform the broader policy discussion about the importance of these credits and public-private partnerships to the development of affordable housing.