LIHTC

  • Make sure that the LIHTC is preserved as a broad based tax program.
  • Move the credit rate back to a fixed 9% to ensure continued housing development.
  • The Schumer Bill excluded Virginia, Maryland, and Delaware from disaster relief tax credits due to their status of "public" assistance declaration instead of "individual." We would like to have this bill amended so that Virginia can receive a one time LIHTC increase for natural disasters such as Irene.

GSE Housing Finance Reform

  • Support Bill by Congressmen Delaney of Maryland, Carney of Delaware, and Himes of Connecticut that is currently in discussion draft. This bill contains similar ideas to Senator Corker-Warner Bill, and proposes establishing a Ginnie Mae type structure.
  • We oppose chairman Hensarling's PATH bill and feel that it would eliminate the 30-year fixed-rate mortgage and restrict mortgage credit in many areas.

Budget

  • Increase the FY15 THUD 302(b) subcommittee allocation to ensure sufficient funding is available for the HUD rental assistance programs. Without an increase to the 302(b) level, HUD would have to work with the same amount of funding as in FY14 even though the cost of administering housing programs increases with inflation annually.
  • Enact a FY15 THUD appropriations bill that:

--Fully funds current Tenant-Based Vouchers and restores funding for vouchers lost due to sequestration.

--Funds 100% of Public Housing operating costs, prevents further capital erosion, and addresses the backlog of existing capital needs;

--Provides Project-Based Rental Assistance contracts for a full-year for all current property owners. HUD has only been able to offer owners of HUD contracted properties partial year contracts and is risking the participation of private market owners in this program.

Homelessness

  • We thank you for maintaining the same level of funding as years prior and not cutting funding. In order to continue the good work that has happened in VA, we need increased funding for Continuum of Care and ask that you support increases in this year's budget negotiations.
  • We also need members to co-sponsor HR 2790

RD Programs

  • Ensure adequate funding for RD homeownership programs
  • Bring Virginia's RD loan activity in line with our neighboring states.

Flood Insurance

  • Support HR 3370 to lower flood insurance rates.

Zack Miller, Communications and Policy Associate