Around the State
NCGA Continues Budget Deliberations – No Budget Expected Until October
The NC General Assembly continues to negotiate the broad contours of the FY 2021-2023 state budget, delaying possibly enactment until at least October. The back and forth on the budget continues, this time with GA leadership saying that they would like to ensure that the Governor is on board with the budget before they move to approve one.
As for timing, assuming current negotiations progress successfully towards approval, a budget would likely be enacted in mid-October. With this process in essentially this same spot for most of the summer, it is also likely that the GC is unable to pass a budget or that it is not approved by the Governor, as was the case in 2019. If the GA and Governor are unable to enact a budget, spending levels will remain at their most recently enacted amounts. If that is the case, then it is likely that legislators will attempt to pass “mini-budget” bills authorizing individual spending amounts for a handful of programs at a time.
For this reason, it is still vital to press GA members about the importance and critical need for housing resources. Those programs or issues that remain top of mind for legislators will be more likely to be included in the development of “mini-budget” bills.
The Coalition will continue to monitor the budget process and update its networks on any developments and/or needed advocacy.
For more details on the contents of current proposed spending levels, for here: NC General Assembly Budget Update – North Carolina Housing Coalition
Draft 2022 Qualified Allocation Plan (QAP) Released – Submit Comments Now
The North Carolina Housing Finance Agency (NCHFA) on Friday released the 2022 Draft Qualified Allocation Plan (QAP) which outlines how the state will allocate its share of federal Low-Income Housing Tax Credits (LIHTC). The QAP is revised annually. For more details on some of the proposed changes to the allocation process for 2022, please listen to the most recent Housing Call.
NCHFA is accepting comments on the 2022 draft until October 15th. Comments can be sent via email to email@example.com. A public hearing will be held in the fall. Details are forthcoming.
Infrastructure & Recovery Package Moving Forward – “Build Back Better Act”
House and Senate leaders are negotiating with moderate Democrats over the size of the “Build Back Better Act,” a $3.5 trillion comprehensive infrastructure and economic recovery package. Currently the bill includes $327 billion in affordable housing,
$90 billion for rental assistance, $80 billion to preserve public housing, and $37 billion for the National Housing Trust. However, negotiations continue, again focused around total spending amounts with some Senators calling for reducing the total spending amount.
The House will then turn its attention to the $550 billion bipartisan infrastructure package the week of September 27, and plan to take up the reconciliation bill before the end of the month.
Biden Administration Launches “Moonshot” to End Homelessness
This week the White House announced a major national housing initiative aimed at ending homelessness across the country. The “House America” initiative pushes cities, states, and tribal entities to take serious action to end homelessness in exchange for federal support and resources. The administration is asking for a public pledge from local leaders to act on homelessness issues. The federal government would then commit to provide funds to build permanent supportive housing and other affordable housing targeting those at-risk of experiencing homelessness. Thus far, the initiative is prepared to announce its first cohort of local and state leaders who will be taking the pledge.
OCC Issues Proposal to Rescind its 2020 Community Reinvestment Act Rule
On September 8, the Office of the Comptroller of the Currency (OCC) issued an official notice of proposed rulemaking (NPR) to rescind its June 2020 Community Reinvestment Act (CRA) rulemaking that was put in place towards the end of the Trump administration. The rules were issued independently in an unprecedented break from the other governing agencies, the Federal Deposit Insurance Corporation and the Board of Governors of the Federal Reserve System, and out of step with the traditional practices for rulemaking. The rules also were considered to be antithetical to the purpose of CRA regulations.
Reports, Resources, and Events
National Public Radio – The Federal Government Sells Flood-Prone Homes To Often Unsuspecting Buyers
The New York Times – Why $46 Billion in Rental Assistance Couldn’t Prevent Evictions
HUD – Evidence Matters
Novogradac (Mark Shelburne) – LIHTC Qualified Allocation Plans, Explained (A Series)
NYU Furman Center – Cracking Code Enforcement: How Cities Approach Housing Standards
Enterprise Community Partners – Webinar
“Landlords as Stewards of Housing Stability”
Tuesday 9/28 @ 1:30 pm