IRS Publishes Rule on Average Income Test

BROADCAST EMAIL – Regulatory Update The Internal Revenue Service (IRS) published a proposed rule in the October 29th Federal Register entitled, “Section 42, Low-Income Housing Credit Average Income Test Regulations.” Once finalized, the rule would provide guidance on implementation of the Average Income Tax (AIT), as established by the Consolidated Appropriations Act of 2018, which…

Rural Development Announces New Regional Directors for Multifamily Housing’s Field Operations Division

BROADCAST EMAIL – Regulatory Update On Friday, Rural Development’s (RD) Office Multifamily Housing (MFH) announced that, effective October 11, 2020, Becki Meyer, Byron Waters, Karissa Stiers, and Laurie Warzinski will become the first Regional Directors of MFH’s Field Operations Division. As  you know, the new Field Operations Division was created as part of the recent…

President Signs into Law CR for FY 2021; Forbearance Issues with RD; Additional COVID-19 Relief Legislation

CARH’s BROADCAST EMAIL – Legislative & Regulatory Update 1) President Signs into Law Continuing Resolution for FY 2021 Just after midnight today, President Trump signed into law H.R. 8337 – Continuing Appropriations Act, 2021 and Other Extensions Act (Public Law number has yet to be assigned). This legislation is a short-term Continuing Resolution (CR) for…

Counsel’s Corner Special – Final Rule or Final Word? HUD Finalizes New Disparate Impact Regulation; Statutorily Mandated Designation of Difficult Development Areas and Qualified Census Tracts for 2021

BROADCAST EMAIL – Regulatory Update 1)  Counsel’s Corner Special – Final Rule or Final Word? HUD Finalizes New Disparate Impact Regulation On September 24, HUD published a Final Rule entitled, “HUD’s Implementation of the Fair Housing Act’s Disparate Impact Standard” in the Federal Register. Below, Harry J. Kelly, Esq., Partner at Nixon Peabody, LLP (CARH’s…

August/September 2020 Edition of CARH News

CARH’S BROADCAST E-MAIL – CARH News The August/September 2020 digital edition of CARH News, the Council for Affordable and Rural Housing’s (CARH) bimonthly digital newsletter, is now available online on CARH’s website, www.carh.org, or for viewing by clicking here. In this issue, you will find: PPP Loans and Hidden Tax Consequences CARH’s Executive Director on…

Stakeholder Letter to Congress in Response to Eviction Moratorium and Lack of Rental Assistance

CARH Broadcast Email—Legislative Update   As you know from CARH’s broadcast email yesterday, the Trump Administration, through the Centers for Disease Control, issued an Agency Order that imposes a moratorium on evictions, nation-wide, through at least December 31, 2020. The order is effective tomorrow, September 4th. This moratorium, together with Congress’ failure to act on…