News

Friday, March 27, 2020

President Donald Trump today signed the Coronavirus Aid, Relief and Economic Security (CARES) Act (Senate Amendment to H.R. 748), a $2 trillion bill that includes financial aid to individuals, businesses, nonprofits and state and local governments.

Friday, March 27, 2020

The House of Representatives today passed the Coronavirus Aid, Relief and Economic Security (CARES) Act (Senate Amendment to H.R. 748), by a voice vote, sending the bill to President Donald Trump, who has said he would immediately sign the legislation. The $2 trillion bill includes financial aid to individuals, businesses, nonprofits and state and local governments.

Thursday, March 26, 2020

The House of Representatives will take up discussion of the Coronavirus Aid, Relief and Economic Security (CARES) Act (Senate Amendment to H.R. 748), after the Senate passed the COVID-19 relief legislation by a 96-0 vote last night. The House is expected to vote by Friday and President Donald Trump has said he would sign the legislation.

Wednesday, March 25, 2020

U.S. Department of Agriculture Rural Development today took several actions related to the COVID-19 pandemic, including changes for multifamily housing.

Wednesday, March 25, 2020

Novogradac’s Michael J. Novogradac, CPA, and Peter Lawrence detail in a blog post provisions of the nearly $2 trillion COVID-19 legislation that the U.S. Senate is considering. The post explains provisions in the so-called Phase 3 COVID-19 legislation concerning individuals and businesses, and provides an overview of supplemental appropriations in the legislation.

Tuesday, March 24, 2020

The U.S. Department of Housing and Urban Development (HUD) income limits for fiscal year 2020 won’t be affected by the COVID-19 pandemic, according to Novogradac partner Thomas Stagg, CPA, who says HUD hasn’t indicated that income limits will be delayed beyond the target released date of April 1.

Tuesday, March 24, 2020

In a letter to the leaders of Congress, the National Association of Bond Lawyers (NABL) asked for adjustments concerning bond regulations, including the elimination of volume cap restrictions for single-family and multifamily housing properties for 2020, 2021 and 2022.

Monday, March 23, 2020

Operators of qualified residential rental projects financed by tax-exempt facility bonds under Internal Revenue Code Section 142(d) are reminded that Form 8703 (Annual Certification of a Residential Rental Project) is due annually by March 31 for the prior calendar year.

Monday, March 23, 2020

Rep. Maxine Waters, D-Calif., today introduced legislation that would suspend tenant contributions toward rent for renters in assisted housing during the COVID-19 pandemic, ban evictions and foreclosures and provide monthly direct payments of up to $2,000 per eligible adult.

Monday, March 23, 2020

The Federal Reserve (Fed) and Federal Housing Finance Agency (FHFA) announced policies today to address economic issues from the COVID-19 pandemic.