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Florida Non-Profit Housing Regional Mutual Self-Help Housing Conference June 19, 2013
Highlights from House Agriculture Appropriations Bill The House bill allocation is $1. 3 billion less than FY 13: Programs Compared to FY 13 Rural Business - $3. 1 million Rural Water/Sewer - $80 million Section 502 Direct - $30 million Self-Help Housing - $12 million Rural Rental Assistance + 105 million
Highlights from House Agriculture Appropriations Bill Program Levels: Programs FY 14 House Bill Section 502 Direct $820 million Section 515 Rental Housing $28. 4 million Section 514/516 Farm Labor Housing Loans/Grants $23. 9 million/$8. 2 million Multi-Family Preservation $27 million ($9. 75 million in vouchers) RCDI $5. 967 million
Highlights from House Agriculture Appropriations Bill General Provision: Sec. 735. The Secretary shall expand the pilot program currently in effect for packaging Section 502 single family direct loans and not later than 90 days after enactment of this Act enter into Memorandums of Understanding with not less than 5 qualified intermediary organizations to work in coordination with the Secretary to increase the effectiveness of the section 502 single family direct loan program in States and communities currently not served under the existing pilot program.
Highlights from Senate Agriculture Subcommittee Appropriations Bill Details of the bill are not public yet, but it is likely that Rural Housing Programs are a freeze from FY 13 enacted levels. Programs FY 14 Senate Bill Section 502 Direct $900 million Section 521 Rental Assistance More than $1 billion Water/Sewer Loan/Grants $1. 7 billion
Highlights from House THUD Subcommittee Appropriations Bill Programs ($ in millions) FY 14 House Bill CDBG Formula $1, 637 HOME Investment Partnerships $700 Section 108 $500/$0 BA Section 202 Housing for Elderly $374. 6 Choice Neighborhoods -$120 (rescinded) Neighborhood Reinvestment $127. 1 Foreclosure Mitigation $58 Housing Counseling $35
Highlights from House THUD Subcommittee Appropriations Bill The House bill rescinds funding from: • Housing Certificate Fund • Choice Neighborhoods • Empowerment Zones/Enterprise Communities • Rent Supplement • Section 108 CDBG Loan Guarantees
Congress and Tax Reform • House Working Groups • JCT Report • Senate Member meetings
Congress and Tax Reform • Lowering Corporate Tax Rate to 28% or 25% • JCT Letter to Rep. Levin (Nov. 2011)
Congress and Tax Reform • Low-Income Housing Tax Credit: – Equivalent to nearly $8 billion in annual budget authority; – 7 th largest corporate tax expenditure; – Has financed more than 270, 000 units of affordable rental housing in rural communities; – According to NRHC’s 2013 Impact Survey, LIHTC represents 48 percent of all financing for rural rental housing and 54 percent of rental preservation.