The latest information on funding availability for HUD-subsidized Section 202 housing. This section also provides updates and information on regulatory guidance and legislative advocacy around housing finance, refinancing and preservation.
On Dec. 2, Larry Minnix will be sending a letter to kick off our next round of advocacy. We'll be conducting 2 major call-in campaigns: one around financing senior housing and the other around both extending the Medicare therapy caps exception and passing a measure that would allow observation days to count as part of the 3-day requirement for Medicare Part A coverage. Stay tuned!
Prior to the start of the U.S. Senate summer recess, Sen. Maria Cantwell (D-WA) introduced S.1442, important housing tax credit legislation. The legislation establishes a permanent, fixed 9% and 4% percentage for tax credits.
Both the U.S. House of Representatives and the U.S. Senate Appropriations Committees completed action on their bills to fund U.S. Department of Housing and Urban Development (HUD) programs before the July 4 recess this week. The Senate has provided $400 million, and the House has provided $374.6 million for the Section 202 program. Many thanks to our members who participated in our Last of the 202s advocacy campaign. Next week, starting July 22, we will need all of you to call Congress and tell your senators to support S.1243.
The U.S. Housing and Urban Development (HUD) Office of Multifamily Housing has launched a centralized processing model for the majority of Section 236 preservation activity through the Office of Affordable Housing Preservation (OAHP). Owners and purchasers who are contemplating one or more Section 236 preservation transactions may request a concept meeting with HUD to discuss the particular details of a potential transaction and to ask questions about preparing an application.
The full U.S. Senate has been invited to advise the Senate Finance Committee by July 26 about which tax credits and deductions currently in the tax code should be retained as Congress undertakes a major rewrite of the tax code. LeadingAge is urging all members to contact their senators now in support of the Low Income Housing Tax Credit, which is one of those credits that could be eliminated without support.