To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program.

H.R. 765, To amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property. H.R. 855, To amend the Internal Revenue Code of 1986 to permanently extend the new markets tax credit, and for other purposes. H.R. 1001, To amend the Internal Revenue Code of 1986 to terminate certain energy tax subsidies and lower the corporate income tax rate. H.R. 1142, To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. H.R. 3110, National Disaster Tax Relief Act of 2015 S. 394, A bill to amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property. S. 591, New Markets Tax Credit Extension Act of 2015 S.1795, National Disaster Tax Relief Act of 2015 S. 2962, Affordable Housing Credit Improvement Act of 2016 S. 3237, Affordable Housing Credit Improvement Act of 2016

Client expense: $135,188 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Public Law (P.L.) 114-223 (H.R. 5325): Continuing Appropriations and Military Construction, Veterans Affairs, and Related Agencies Appropriation Act, 2017, and Zika Response and Preparedness Act. Provisions related to Division C, Continuing Appropriations Act, (11) The Transportation, Housing and Urban Development, and Related Agencies Appropriations Act, 2016 (division L of Public Law 114-113). P.L. 114-201 (H.R. 3700): Housing Opportunities through Modernization Act, 2016; this law incorporates different housing reform bills introduced in the 114th Congress: The Preservation Enhancement and Savings Opportunity Act of 2015 (H.R. 2482), The Private Investment in Housing Act (H.R. 2997). It includes a drafted bill from the 113th Congress which has not been formally introduced, the Affordable Housing and Self-Sufficiency Improvement Act of 2012 (AHSSIA); all provisions. P.L. 114-94 (H.R. 22): Fixing Americas Surface Transportation (FAST) Act. Housing provisions included in House Amendment 827. P.L. 114-74 (H.R. 1314): the Bipartisan Budget Act of 2015. A two-year budget deal that suspended the federal borrowing cap until March 16, 2017; all provisions. P.L. 114-96 (H.R. 2250): Further Continuing Appropriations Act, 2015. This bill provided an additional temporary extension for FY 2016 funding at the same funding level as FY 2015 with an expiration date of December 16, 2015; all provisions P.L. 114-113 (H.R. 2029): Consolidated Appropriations Act, 2016. Omnibus bill providing appropriations for the remainder of FY 2016; provisions under Division L, Transportation, Housing and Urban Development, and Related Agencies Appropriations Act, 2016: Title II - Department of Housing and Urban Development, Division A, Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2016: Title III - Rural Development Programs, and Division Q, Protecting Americans from Tax Hikes Act, 2016: Part IV - Incentives for Real Estate Investment, Section 131 Extension of minimum low-income housing tax credit rate for non-Federally subsidized buildings. P.L. 114-53 (H.R. 719): Continuing appropriations Act, 2016. This bill is a temporary continuing resolution (CR) which funded the federal government for fiscal year (FY) 2016 at the same funding as FY 2015 until December 11, 2015; provisions related to (Sec. 117): Provides USDA with funding flexibility to pay ongoing debt service for multi-family direct loan program rental assistance contracts under sections 514 and 515 of the Housing Act of 1949. Permits the renewal during the duration of the CR of rental assistance contracts entered into or renewed in 2015 that exhausted funds within the 12-month contract period. H.R.5835: The Fair Distribution of Affordable Housing Funds Act of 2016. Under this bill, the minimum funding level given to every state by the National Housing Trust Fund (HTF) would be repealed and replaced with a formula based on population and need. H.R. 5170: the Social Impact Partnerships to Pay for Results Act; this bill would require the Treasury Department to publish a request for proposals from states or local governments for social impact partnership projects which produce one or more measurable, clearly defined outcomes that result in social benefit; all provisions. H.R. 5254: the Senior Accessible Housing Act. This bill would create a non-refundable personal tax credit for senior citizens who modify their residences so that they may remain living independently, and comfortably in the residences; all provisions. H.R. 5401: the Landlord Accountability Act of 2016; this bill would mandate that owners of any HCV unit that is available for rent may not take any action, or fail to take any action, with the intent to make the unit insufficiently decent, safe, sanitary, or inhabitable so that the dwelling does not qualify for assistance; all provisions. H.R. 5360: the Welfare Reform and Upward Mobility Act; this bill would prohibit Congress from funding housing programs and replace them with a single state block grant for all housing activities; this would affect all HUD programs as well as all rental assistance programs provided through the U.S. Department of Agricultures Rural Development; all provisions. H.R.5202: Preserving HUD's Multifamily Field Offices Act of 2016; this bill would preserve asset management staff in each of HUDs 54 multifamily field offices across the country and would require HUD to back-fill all asset management positions in every field office; all provisions. H.R. 5058: the Fair Chance at Housing Act of 2016; this bill would overhaul eviction and screening policies for housing assistance programs and revise standards of evidence for eviction when criminal activity is involved. Public Housing Authorities (PHAs) and property owners would be required to adopt an all-inclusive approach in their determination of mitigating factors for tenants with a criminal record, such as how long ago the offense occurred or if the individual is seeking rehabilitation services; all provisions. H.R. 4908: the Rural Housing Preservation Act of 2016; this bill would require that any owner of a property financed with a loan made or insured under Section 515, whether the loan is outstanding or fully paid, must lease an available unit to a family or individual with a Rural Housing Voucher (RHV). Additionally, the bill seeks to decouple the rental assistance from maturing mortgages; all provisions. H.R. 4888: The Ending Homelessness Act of 2016. This bill seeks to provide resources to end homelessness in America through $13.27 billion in emergency funding over the next five years. H.R. 4888 would also implement strategies for outreach and case management, as well as technical assistance to help states and local jurisdictions better align their healthcare and housing; all provisions. H.R. 4753: The Wounded Warrior Housing Reform Act of 2016. This bill would exclude Service-connected disability compensation, and pensions paid to a veteran age 65 or older from consideration as income for affordable housing programs; all provisions. H.R. 1142: To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit. This bill would make permanent a 9 percent minimum rate for new housing projects and 4 percent rate for acquiring existing housing for rehabilitation; all provisions S. 3398: HUD Inspection Process and Enforcement Reform Act of 2016. This bill would shorten the required response time for a property owner to respond to contract violations, and for HUD to prepare a Compliance, Disposition and Enforcement Plan. HUD would also be permitted to terminate or demote employees overseeing inspections should they be found to be neglectful of their duties in inspecting a property, and the inspection process managed by HUDs Real Estate Assessment Center (REAC) would be audited; all provisions. S. 3384: Middle-Income Housing Tax Credit Act of 2016. This bill would create a new tax credit called the Middle-Income Housing Tax Credit (MIHTC) to work in conjunction with the Low-Income Housing Tax Credit (LIHTC). Under the bill, the federal government would allocate tax credits to the states based on population, starting with $1 per capita with a $1.14 million small state minimum. State housing authorities would then allocate the tax credits to developers through a competitive process; all provisions. S. 3219: The Housing Accountability Act of 2016. This bill would require HUD to survey tenants twice a year about property conditions and management performance. It would also introduce new penalties for property owners who repeatedly fail the tenant surveys, and HUD would be required to gather a report regarding the adequacy of capital reserves for property receiving Section 8 assistance; all provisions. S. 3100: Stop Dangerous Sanctuary Cities Act; this bill aims to strengthen homeland security efforts in small, local communities. A provision in this bill would prevent Community Development Block Grant (CDBG) funds and other federal funds from being provided to communities that are so called sanctuary cities; all provisions relating to the CDBG. S. 3083: the Housing Opportunity Through Modernization Act (HOTMA); This bill incorporates different housing reform bills introduced in the 114th Congress: The Preservation Enhancement and Savings Opportunity Act of 2015 (H.R. 2482), The Private Investment in Housing Act (H.R. 2997). It includes a drafted bill from the 113th Congress which has not been formally introduced, the Affordable Housing and Self-Sufficiency Improvement Act of 2012 (AHSSIA). It is the Senate companion bill to H.R. 3700; all provisions. S.3047, the Welfare Reform and Upward Mobility Act; this bill would prohibit Congress from funding housing programs and replace them with a single state block grant for all housing activities; this would affect all HUD programs as well as all rental assistance programs provided through the U.S. Department of Agricultures Rural Development; all provisions. S.2783: the Rural Housing Preservation Act of 2016; this bill would require that any owner of a property financed with a loan made or insured under Section 515, whether the loan is outstanding or fully paid, must lease an available unit to a family or individual with a Rural Housing Voucher (RHV). Additionally, the bill seeks to decouple the rental assistance from maturing mortgages; all provisions S.2868: the Investing in Opportunity Act; this bill would private investment in economically distressed communities would be encouraged by a temporary capital gains deferral for reinvestment in Opportunity Zones - geographically targeted low-income areas that will be designated by state governors; all provisions related to affordable multifamily housing development White House Housing Development Toolkit; September, 2016. Interim Report: Evaluation of HUDs Rental Assistance Demonstration (RAD); September, 2016. Republican Study Committees (RSC) Empowerment Initiative recommendations for an anti-poverty agenda intended to modernize Americas social safety net programs Strengthening Our Safety Net to Empower People, April 25, 2016; all provisions concerning federally assisted housing programs. Rural Housing Report: USDA Rural Development Multifamily Housing Comprehensive Property Assessment March 1, 2016. House Tax Reform Task Force tax reform blueprint titled A Pro-Growth Tax Code for All Americans. This tax reform blueprint promotes broad agenda items being pursued as part of House Speaker Paul Ryans (R-WI) A Better Way agenda to reform the tax system of the United States; provisions relating to the Low-Income Housing Tax Credit (LIHTC). House Budget Committee resolution for fiscal year 2017 titled A Balanced Budget for a Stronger America March 23, 2016. All provisions relating to the Federal Housing Administration (FHA) and the use of fair-value accounting principles for federally financed multifamily mortgages. HUD Final Rule: Equal Access in Accordance with an Individuals Gender Identity in Community Planning and Development Programs [Docket No. FR 5863-F-02] September 21, 2016; all provisions. HUD Final Rule: Quid Pro Quo and Hostile Environment Harassment and Liability for Discriminatory Housing Practices Under the Fair Housing Act [Docket No. FR-5248-F-02] September 14, 2016; all provisions. HUD Office of General Counsel Guidance Application of Fair Housing Act Standards to the Enforcement of Local Nuisance and Crime-Free Housing Ordinances Against Victims of Domestic Violence, Other Crime Victims, and Others Who Require Police or Emergency Services September 13, 2016; all provisions. HUD Notice: Implementation guidance for the Housing Opportunity Through Modernization Act of 2016 (HOTMA). HOTMA altered several HUD regulations, including the frequency of income certifications for tenants living on a fixed income. This guidance seeks to advise HUD program participants and interested members of the public on this and other statutory provisions under HOTMA, all provisions. HUD Draft Chapters of Handbook 4350.1, Multifamily Asset Management and Project Servicing, all provisions HUD Notice: Fair Market Rents for the Housing Choice Voucher Program, Moderate Rehabilitation Single Room Occupancy Program and Other Programs Fiscal Year 2017 [Docket No. FR-5962-N-01] August 26, 2016; all provisions. HUD Notice H-2016-08: Family Self Sufficiency Program in Multifamily August 26, 2016; all provisions. NAHMA also alerted members to a webinar series which reviewed HUD Notice H-2016-08. HUD Notice PIH 2016-12 & Notice H 2016-07: Funding Availability for Tenant-Protection Vouchers for Certain At-Risk Households in Low-Vacancy Areas - Fiscal Year 2016 August 18, 2016; all provisions. HUDs Education Navigators - Mayors Challenge National Call August 17, 2016. Alerted NAHMA members of this call on August 8, 2016. Inspector Notice No. 2016-03: Uniform Physical Condition Standards (UPCS) Deficiencies and Industry Standard Repairs July 11, 2016; all provisions. HUD Final Rule: Establishing a More Effective Fair Market Rent System; Using Small Area Fair Market Rents in Housing Choice Voucher Program Instead of the Current 50th Percentile FMRs [Docket No. FR-5855-P-02] June 16, 2016; all provisions. HUD Notice PIH 2016-09 (HA): Housing Choice Voucher (HCV) Family Moves with Continued Assistance, Family Briefing, and Voucher Terms Suspension June 6, 2016; all provisions. Response to Office of the Comptroller of the Currency (OCC) white paper: "Supporting Responsible Innovation in the Federal Banking System." NAHMA signed on to comments in response to the OCC's request May 31, 2016. HOMEfires - Vol. 13 No. 2: Information on utility allowance (UA) requirement established in the 2013 HOME Final Rule (HOME Rule) May, 2016 HUD Notice: Notice of Demonstration to Test Proposed New Method of Assessing the Physical Conditions of Voucher-Assisted Housing [Docket No. FR-5928-N-01] May 4, 2016; all provisions. HUD Notice of Fiscal Year (FY) 2016 Annual Adjustment Factors (AAFs): Section 8 Housing Assistance Payments Program-Annual Adjustment Factors, Fiscal Year 2017; all provisions. HUD Notice CPD-16-07: Guidance for HTF Grantees on Fiscal Year 2016 Housing Trust Fund (HTF) Allocation Plans April 26, 2016; all provisions HUD Frequently Asked Questions on Transferring Budget Authority under Section 8(bb)(1) April 22, 2016; all provisions. HUD Notice: Section 8 Housing Assistance Payments Program-Fiscal Year (FY) 2016 Inflation Factors for Public Housing Agency (PHA) Renewal Funding [Docket No. FR-5939-N-01] April 15, 2016; all provisions. HUD Congressional Implementation Plan: Budget Neutral Demonstration Program for Energy and Water Conservation Improvements at Multifamily Residential Units (Title LXXI, Section 81001) March 4, 2016; all provisions HUD Report: Preservation Options for Section 236 Properties April 6, 2016 HUD Office of General Council (OGC) Guidance: "Application of Fair Housing Act Standards to the Use of Criminal Records by Providers of Housing and Real Estate-Related Transactions" April 4, 2016; all provisions. HUD Notice H 2016-05: Revision of Tenant Participation Requirements in accordance with 24 CFR Part 245 March 31, 2016; all provisions. HUD Report: Understanding Whom the LIHTC Program Serves: Tenants in LIHTC Units as of December 31, 2012 March 25, 2016. HUD Announcement of Fiscal Year 2015 Funding Awards: Announcement of Tenant Protection Voucher Funding Awards for Fiscal Year 2015 for the Housing Choice Voucher Program [Docket No. FR-5937-FA-01] March 29, 2016; all provisions HUD Notice: Announcement of Tenant Protection Voucher Funding Awards for Fiscal Year 2015 for the Housing Choice Voucher Program [Docket No. FR-5937-FA-01] March 29, 2016; all provisions HUD FY 2016 Median Family Income estimates and FY 2016 Income Limits March 28, 2016. HUD Notice PIH 2016-04: Implementation of the Federal Fiscal Year (FFY) 2016 Funding Provisions for the Housing Choice Voucher Program March 10, 2016; all provisions HUD Notice PIH 2016-02 (HA): Enhanced Voucher Requirements for Over-housed Families March 4, 2016; all provisions HUD Notice: Family Self Sufficiency Program in Multifamily March 15, 2016; all provisions HUD Final Rule: "Streamlining Administrative Regulations for the Public Housing, Housing Choice Voucher, Multifamily Housing, and Community Planning and Development Programs" [Docket No. FR 5743-F-03] March 1, 2016; all provisions and previously proposed rule HUD Section 8 Renewal Policy Guide, Chapter 9: Rent Comparability Studies revision draft February 23, 2016; all provisions Government Accountability Office (GAO) Report HOUSING FOR SPECIAL NEEDS: Funding for HUD's Supportive Housing Programs May, 2016 HUD Memorandum New UPCS Inspector Protocol Conferencing Bed Bug Infestation February 1, 2016; all provisions HUD Notice of Funding Availability (NOFA): Supportive Services Demonstration for Elderly Households in HUD-Assisted Multifamily Housing demonstration project January 20, 2016; all provisions relating to eligible owners of HUD-assisted senior housing developments to access funding that will cover the cost of a full-time enhanced service coordinator and a part-time wellness nurse Federal Housing Finance Agency Notice for Final Rule: Enterprise Duty To Serve Underserved Markets, December 18, 2015 - 12 CFR Part 1282 [RIN 2590-AA27]; all provisions HUD Notice of Final Fiscal Year (FY) 2016 Fair Market Rents (FMRs) [Docket No. FR-5885-N-02]: "Final Fair Market Rents for the Housing Choice Voucher Program and Moderate Rehabilitation Single Room Occupancy Program and Other Programs Fiscal Year 2016" December 11, 2015; all provisions HUD Final Rule [Docket No. FR-5248-P-01] RIN 2529-AA94: "Quid Pro Quo and Hostile Environment Harassment and Liability for Discriminatory Housing Practices Under the Fair Housing Act" October 21, 2015; all provisions HUD Notice H 2015-10 & 19: "Guidance for Public Housing Agencies (PHAs) and Owners of Federally-Assisted Housing on Excluding the Use of Arrest Records in Housing Decisions" November 2, 2015; all provisions HUD Notice [Docket No. FR-5883-N-01]: "Notice of Certain Operating Cost Adjustment Factors for 2016" October 13, 2015; all provisions impacting project based assistance contracts for eligible multifamily housing projects. HUD Final Rule: Affirmatively Furthering Fair Housing [Docket No. FR-5173-F-04] RIN 2501-AD33; all provisions HUD Transmittal issued 8/7/15: Section 8 Renewal Policy Guidebook; all sections HUD Initiative "Transforming Multifamily for the 21st Century"; all provisions. HUD Draft FHA Multifamily Accelerated Processing (MAP) Guide; all provisions relating to federally assisted multifamily housing in chapters 1.5, 3, 3.6.C, 3.7.V, 3.8, 5, 5.2, 5.3, 5.10.L.5, 7.1, 7.8, 14.7, 18.3. HUD Memorandum: "Age Restrictions in FHA Insured Housing"; all provisions. HUD 60-Day Notice of Proposed Information Collection: Energy Benchmarking, 81 FR 68446 all provisions. HUD Notice PIH 2012-32 (HA), REV-2, Rental Assistance Demonstration - Final Implementation, Revision 2 June 15, 2015; all provisions. HUD Final Rule, "Violence Against Women Reauthorization Act of 2013: Implementation in HUD Housing Programs" Final ruling and opinion in the Supreme Court case Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc. Housing Notice 2016-09 "Streamlining Rule", all provisions. NAHMA participated in advocacy campaigns to advance affordable housing issues as a national issue during the 2016 election. NAHMA signed on to an industry letter sent to the Administrator for the US Department of Agricultures Rural Housing Service regarding the Section 538 Guaranteed Rural Rental Housing Program. The letter requested four policy changes to improve the Section 538 program: i) eliminate the NOFA and NOSA process to allow smoother, year-long underwriting and origination; ii) reduce the annual guarantee fee commensurate with similar loan products; iii) use the Section 538 program for refinances; and iv) allow the continuous guarantees to be underwritten with Ginnie Maes 70 percent loan-to-cost ratio Policies relating to affordable housing development in housing finance reform efforts in Congress. All policies relating to the expansion of the Low-Income Housing Tax Credit (LIHTC) All policies relating to HUD inspection protocol UPCS-V All policies relating to Housing Assistance Payments (HAP) Contracts All policies relating to Project Rental Assistance Contracts (PRACs) and strategies to preserve properties in this portfolio. All policies relating to funding and administration of the Housing Trust Fund. All policies and funding grants relating to the managing of lead-based paint at multifamily properties. All policies relating to the release and implementation of the Affirmatively Furthering Fair Housing rule from HUD. All policies relating to Performance-Based Contract Administration. All policies relating to the resumption of Management and Occupancy Reviews (MORs). Policies relating to student occupancy requirements in properties assisted through HUD or the Low-Income Housing Tax Credit. Policies relating to Rural Development Housing Preservation Grants. Rural Housing Service(RHS) Unnumbered Letter March 1, 2017, Pilot Program to Promote Non-Profit Participation in Transactions to Retain the Section 515 Portfolio. Rural Housing Service Final Rule: Civil Monetary Penalties (7 CFR Part 3560) [RIN 0575-AC93] August 23, 2016; all provisions. Rural Development Unnumbered Letter: The Cost of Tenant Services in Multi-Family Housing Properties August 8, 2016; all provisions. Rural Development Procedure Notice: Fiscal Year 2017 Management Fees July 29, 2016; all provisions. Rural Housing Service Notice: Rural Development Voucher Program June 29, 2016; all provisions. Rural Development Unnumbered Letter dated May 24, 2016: Management of Unused Rental Assistance; all provisions Rural Development Unnumbered Letter dated May 10, 2016: Hosting the U.S. Department of Agriculture Summer Food Service Programs at Rural Development Multi-Family Housing Properties; all provisions Rural Housing Service Announcement of Meetings: U.S. Department of Agriculture Multi-Family Housing Program 2016 Industry Forums-Open Teleconference and/or Web Conference Meetings Federal Register /Vol. 81, No. 90; May 10, 2016; all provisions Department of Agriculture, Rural Housing Service Notice: Notice of Solicitation of Applications for the Section 533 Housing Preservation Grants for Fiscal Year 2016; all provisions Rural Development unnumbered Letter dated March 18, 2016: Rental Assistance Obligation Tool; all provisions. Rural Development Administrative Notice dated February 5, 2016: Fiscal Year 2016 Site Manager and Maintenance Person of the Year Recognition Program; all provisions Rural Housing Service Notice: Notice of Solicitation of Applications for the Section 533 Housing Preservation Grants for Fiscal Year 2016 December 29, 2015; all provisions. Policies relating to USDA-RHS' Section 521 Rental Assistance; non-payment of rental assistance contracts in FY 2015 and initial months of FY 2016. Policies relating to the preservation of properties financed with mortgages from the Section 515 program; advocated for non-burdensome actions that will allow properties to either be acquired by new ownership or to refinance so that they may continue to receive Section 521 Rental Assistance Policies relating to management fee adjustments in Rural Development from 2010 to 2016; provisions relating of implementation of Operating Cost Adjustment Factors (OCAF) method. Offered recommendations in response to USDA-RHS' informal request for ideas to implement a performance-based management fee for apartments that receive Rural Rental Assistance. Advocated for policies to address ongoing occupancy issues, including prolonged vacancies, in properties that participate in USDA-RHS's Multifamily Housing programs. Advocated for policies to address improper payments in USDA-RHS's Section 521 Rural Rental Assistance program. All policies related to USDA Rural Development's Improper Payments Information Act (IPIA) audit for the Rental Assistance Program, Multi-Family Integrated System and its findings reviews, and rural housing preservation.

Proposals impacting the low-income housing credit, including H.R. 1142 and S. 1193; to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. S.1946, Tax Relief Extension Act. H.R. 2029, Consolidated Appropriations Act. H.R. 3110/S. 1795, National Disaster Tax Relief Act. Proposals related to converting excess bonds into housing credits. S. 2962, Affordable Housing Credit Improvement Act. House Republican Tax Reform Task Force Blueprint. S. 3237, Affordable Housing Credit Improvement Act of 2016. S. 3384, the Middle-Income Housing Tax Credit Act.

Client expense: Not reported · Firm income: $40,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR 1142 and S. 1193 amending IRC of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing

Client expense: Not reported · Firm income: $30,000

Government targets: HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), SENATE, Treasury, Dept of

H.R. 765, To amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property. H.R. 855, To amend the Internal Revenue Code of 1986 to permanently extend the new markets tax credit, and for other purposes H.R. 1001, To amend the Internal Revenue Code of 1986 to terminate certain energy tax subsidies and lower the corporate income tax rate H.R. 1142, To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program H.R. 3110, National Disaster Tax Relief Act of 2015 S. 394, A bill to amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property S. 591, New Markets Tax Credit Extension Act of 2015 S.1795, National Disaster Tax Relief Act of 2015 S. 2962, Affordable Housing Credit Improvement Act of 2016

Client expense: $137,712 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Proposals impacting the low-income housing credit, including H.R. 1142 and S. 1193; to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. S.1946, Tax Relief Extension Act. H.R. 2029, Consolidated Appropriations Act. H.R. 3110/S. 1795, National Disaster Tax Relief Act. Proposals related to converting excess bonds into housing credits. S. 2962, Affordable Housing Credit Improvement Act. House Republican Tax Reform Task Force Blueprint. S. 3237, Affordable Housing Credit Improvement Act of 2016. S. 3384, the Middle-Income Housing Tax Credit Act.

Client expense: Not reported · Firm income: $40,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Public Law (P.L.) 114-223 (H.R. 5325): Continuing Appropriations and Military Construction, Veterans Affairs, and Related Agencies Appropriation Act, 2017, and Zika Response and Preparedness Act. Provisions related to Division C, Continuing Appropriations Act, (11) The Transportation, Housing and Urban Development, and Related Agencies Appropriations Act, 2016 (division L of Public Law 114-113). P.L. 114-201 (H.R. 3700): Housing Opportunities through Modernization Act, 2016; this law incorporates different housing reform bills introduced in the 114th Congress: The Preservation Enhancement and Savings Opportunity Act of 2015 (H.R. 2482), The Private Investment in Housing Act (H.R. 2997). It includes a drafted bill from the 113th Congress which has not been formally introduced, the Affordable Housing and Self-Sufficiency Improvement Act of 2012 (AHSSIA); all provisions. P.L. 114-94 (H.R. 22): Fixing Americas Surface Transportation (FAST) Act. Housing provisions included in House Amendment 827. P.L. 114-74 (H.R. 1314): the Bipartisan Budget Act of 2015. A two-year budget deal that suspended the federal borrowing cap until March 16, 2017; all provisions. P.L. 114-96 (H.R. 2250): Further Continuing Appropriations Act, 2015. This bill provided an additional temporary extension for FY 2016 funding at the same funding level as FY 2015 with an expiration date of December 16, 2015; all provisions P.L. 114-113 (H.R. 2029): Consolidated Appropriations Act, 2016. Omnibus bill providing appropriations for the remainder of FY 2016; provisions under Division L, Transportation, Housing and Urban Development, and Related Agencies Appropriations Act, 2016: Title II - Department of Housing and Urban Development, Division A, Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2016: Title III - Rural Development Programs, and Division Q, Protecting Americans from Tax Hikes Act, 2016: Part IV - Incentives for Real Estate Investment, Section 131 Extension of minimum low-income housing tax credit rate for non-Federally subsidized buildings. P.L. 114-53 (H.R. 719): Continuing appropriations Act, 2016. This bill is a temporary continuing resolution (CR) which funded the federal government for fiscal year (FY) 2016 at the same funding as FY 2015 until December 11, 2015; provisions related to (Sec. 117): Provides USDA with funding flexibility to pay ongoing debt service for multi-family direct loan program rental assistance contracts under sections 514 and 515 of the Housing Act of 1949. Permits the renewal during the duration of the CR of rental assistance contracts entered into or renewed in 2015 that exhausted funds within the 12-month contract period. H.R.5835: The Fair Distribution of Affordable Housing Funds Act of 2016. Under this bill, the minimum funding level given to every state by the National Housing Trust Fund (HTF) would be repealed and replaced with a formula based on population and need. H.R. 5170: the Social Impact Partnerships to Pay for Results Act; this bill would require the Treasury Department to publish a request for proposals from states or local governments for social impact partnership projects which produce one or more measurable, clearly defined outcomes that result in social benefit; all provisions. H.R. 5254: the Senior Accessible Housing Act. This bill would create a non-refundable personal tax credit for senior citizens who modify their residences so that they may remain living independently, and comfortably in the residences; all provisions. H.R. 5401: the Landlord Accountability Act of 2016; this bill would mandate that owners of any HCV unit that is available for rent may not take any action, or fail to take any action, with the intent to make the unit insufficiently decent, safe, sanitary, or inhabitable so that the dwelling does not qualify for assistance; all provisions. H.R. 5360: the Welfare Reform and Upward Mobility Act; this bill would prohibit Congress from funding housing programs and replace them with a single state block grant for all housing activities; this would affect all HUD programs as well as all rental assistance programs provided through the U.S. Department of Agricultures Rural Development; all provisions. H.R.5202: Preserving HUD's Multifamily Field Offices Act of 2016; this bill would preserve asset management staff in each of HUDs 54 multifamily field offices across the country and would require HUD to back-fill all asset management positions in every field office; all provisions. H.R. 5058: the Fair Chance at Housing Act of 2016; this bill would overhaul eviction and screening policies for housing assistance programs and revise standards of evidence for eviction when criminal activity is involved. Public Housing Authorities (PHAs) and property owners would be required to adopt an all-inclusive approach in their determination of mitigating factors for tenants with a criminal record, such as how long ago the offense occurred or if the individual is seeking rehabilitation services; all provisions. H.R. 4908: the Rural Housing Preservation Act of 2016; this bill would require that any owner of a property financed with a loan made or insured under Section 515, whether the loan is outstanding or fully paid, must lease an available unit to a family or individual with a Rural Housing Voucher (RHV). Additionally, the bill seeks to decouple the rental assistance from maturing mortgages; all provisions. H.R. 4888: The Ending Homelessness Act of 2016. This bill seeks to provide resources to end homelessness in America through $13.27 billion in emergency funding over the next five years. H.R. 4888 would also implement strategies for outreach and case management, as well as technical assistance to help states and local jurisdictions better align their healthcare and housing; all provisions. H.R. 4753: The Wounded Warrior Housing Reform Act of 2016. This bill would exclude Service-connected disability compensation, and pensions paid to a veteran age 65 or older from consideration as income for affordable housing programs; all provisions. H.R. 1142: To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit. This bill would make permanent a 9 percent minimum rate for new housing projects and 4 percent rate for acquiring existing housing for rehabilitation; all provisions S. 3398: HUD Inspection Process and Enforcement Reform Act of 2016. This bill would shorten the required response time for a property owner to respond to contract violations, and for HUD to prepare a Compliance, Disposition and Enforcement Plan. HUD would also be permitted to terminate or demote employees overseeing inspections should they be found to be neglectful of their duties in inspecting a property, and the inspection process managed by HUDs Real Estate Assessment Center (REAC) would be audited; all provisions. S. 3384: Middle-Income Housing Tax Credit Act of 2016. This bill would create a new tax credit called the Middle-Income Housing Tax Credit (MIHTC) to work in conjunction with the Low-Income Housing Tax Credit (LIHTC). Under the bill, the federal government would allocate tax credits to the states based on population, starting with $1 per capita with a $1.14 million small state minimum. State housing authorities would then allocate the tax credits to developers through a competitive process; all provisions. S. 3219: The Housing Accountability Act of 2016. This bill would require HUD to survey tenants twice a year about property conditions and management performance. It would also introduce new penalties for property owners who repeatedly fail the tenant surveys, and HUD would be required to gather a report regarding the adequacy of capital reserves for property receiving Section 8 assistance; all provisions. S. 3100: Stop Dangerous Sanctuary Cities Act; this bill aims to strengthen homeland security efforts in small, local communities. A provision in this bill would prevent Community Development Block Grant (CDBG) funds and other federal funds from being provided to communities that are so called sanctuary cities; all provisions relating to the CDBG. S. 3083: the Housing Opportunity Through Modernization Act (HOTMA); This bill incorporates different housing reform bills introduced in the 114th Congress: The Preservation Enhancement and Savings Opportunity Act of 2015 (H.R. 2482), The Private Investment in Housing Act (H.R. 2997). It includes a drafted bill from the 113th Congress which has not been formally introduced, the Affordable Housing and Self-Sufficiency Improvement Act of 2012 (AHSSIA). It is the Senate companion bill to H.R. 3700; all provisions. S.3047, the Welfare Reform and Upward Mobility Act; this bill would prohibit Congress from funding housing programs and replace them with a single state block grant for all housing activities; this would affect all HUD programs as well as all rental assistance programs provided through the U.S. Department of Agricultures Rural Development; all provisions. S.2783: the Rural Housing Preservation Act of 2016; this bill would require that any owner of a property financed with a loan made or insured under Section 515, whether the loan is outstanding or fully paid, must lease an available unit to a family or individual with a Rural Housing Voucher (RHV). Additionally, the bill seeks to decouple the rental assistance from maturing mortgages; all provisions S.2868: the Investing in Opportunity Act; this bill would private investment in economically distressed communities would be encouraged by a temporary capital gains deferral for reinvestment in Opportunity Zones - geographically targeted low-income areas that will be designated by state governors; all provisions related to affordable multifamily housing development White House Housing Development Toolkit; September, 2016. Interim Report: Evaluation of HUDs Rental Assistance Demonstration (RAD); September, 2016. Republican Study Committees (RSC) Empowerment Initiative recommendations for an anti-poverty agenda intended to modernize Americas social safety net programs Strengthening Our Safety Net to Empower People, April 25, 2016; all provisions concerning federally assisted housing programs. Rural Housing Report: USDA Rural Development Multifamily Housing Comprehensive Property Assessment March 1, 2016. House Tax Reform Task Force tax reform blueprint titled A Pro-Growth Tax Code for All Americans. This tax reform blueprint promotes broad agenda items being pursued as part of House Speaker Paul Ryans (R-WI) A Better Way agenda to reform the tax system of the United States; provisions relating to the Low-Income Housing Tax Credit (LIHTC). House Budget Committee resolution for fiscal year 2017 titled A Balanced Budget for a Stronger America March 23, 2016. All provisions relating to the Federal Housing Administration (FHA) and the use of fair-value accounting principles for federally financed multifamily mortgages. HUD Final Rule: Equal Access in Accordance with an Individuals Gender Identity in Community Planning and Development Programs [Docket No. FR 5863-F-02] September 21, 2016; all provisions. HUD Final Rule: Quid Pro Quo and Hostile Environment Harassment and Liability for Discriminatory Housing Practices Under the Fair Housing Act [Docket No. FR-5248-F-02] September 14, 2016; all provisions. HUD Office of General Counsel Guidance Application of Fair Housing Act Standards to the Enforcement of Local Nuisance and Crime-Free Housing Ordinances Against Victims of Domestic Violence, Other Crime Victims, and Others Who Require Police or Emergency Services September 13, 2016; all provisions. HUD Notice: Fair Market Rents for the Housing Choice Voucher Program, Moderate Rehabilitation Single Room Occupancy Program and Other Programs Fiscal Year 2017 [Docket No. FR-5962-N-01] August 26, 2016; all provisions. HUD Notice H-2016-08: Family Self Sufficiency Program in Multifamily August 26, 2016; all provisions. NAHMA also alerted members to a webinar series which reviewed HUD Notice H-2016-08. HUD Notice PIH 2016-12 & Notice H 2016-07: Funding Availability for Tenant-Protection Vouchers for Certain At-Risk Households in Low-Vacancy Areas - Fiscal Year 2016 August 18, 2016; all provisions. HUDs Education Navigators - Mayors Challenge National Call August 17, 2016. Alerted NAHMA members of this call on August 8, 2016. Inspector Notice No. 2016-03: Uniform Physical Condition Standards (UPCS) Deficiencies and Industry Standard Repairs July 11, 2016; all provisions. HUD Proposed Rule: Establishing a More Effective Fair Market Rent System; Using Small Area Fair Market Rents in Housing Choice Voucher Program Instead of the Current 50th Percentile FMRs [Docket No. FR-5855-P-02] June 16, 2016; all provisions. HUD Notice PIH 2016-09 (HA): Housing Choice Voucher (HCV) Family Moves with Continued Assistance, Family Briefing, and Voucher Terms Suspension June 6, 2016; all provisions. Response to Office of the Comptroller of the Currency (OCC) white paper: "Supporting Responsible Innovation in the Federal Banking System." NAHMA signed on to comments in response to the OCC's request May 31, 2016. HOMEfires - Vol. 13 No. 2: Information on utility allowance (UA) requirement established in the 2013 HOME Final Rule (HOME Rule) May, 2016 HUD Notice: Notice of Demonstration to Test Proposed New Method of Assessing the Physical Conditions of Voucher-Assisted Housing [Docket No. FR-5928-N-01] May 4, 2016; all provisions. HUD Notice of Fiscal Year (FY) 2016 Annual Adjustment Factors (AAFs): Section 8 Housing Assistance Payments Program-Annual Adjustment Factors, Fiscal Year 2016 May 3, 2016; all provisions. HUD Notice CPD-16-07: Guidance for HTF Grantees on Fiscal Year 2016 Housing Trust Fund (HTF) Allocation Plans April 26, 2016; all provisions HUD Frequently Asked Questions on Transferring Budget Authority under Section 8(bb)(1) April 22, 2016; all provisions. HUD Notice: Section 8 Housing Assistance Payments Program-Fiscal Year (FY) 2016 Inflation Factors for Public Housing Agency (PHA) Renewal Funding [Docket No. FR-5939-N-01] April 15, 2016; all provisions. HUD Congressional Implementation Plan: Budget Neutral Demonstration Program for Energy and Water Conservation Improvements at Multifamily Residential Units (Title LXXI, Section 81001) March 4, 2016; all provisions HUD Report: Preservation Options for Section 236 Properties April 6, 2016 HUD Office of General Council (OGC) Guidance: "Application of Fair Housing Act Standards to the Use of Criminal Records by Providers of Housing and Real Estate-Related Transactions" April 4, 2016; all provisions. HUD Notice H 2016-05: Revision of Tenant Participation Requirements in accordance with 24 CFR Part 245 March 31, 2016; all provisions. HUD Report: Understanding Whom the LIHTC Program Serves: Tenants in LIHTC Units as of December 31, 2012 March 25, 2016. HUD Announcement of Fiscal Year 2015 Funding Awards: Announcement of Tenant Protection Voucher Funding Awards for Fiscal Year 2015 for the Housing Choice Voucher Program [Docket No. FR-5937-FA-01] March 29, 2016; all provisions HUD Notice: Announcement of Tenant Protection Voucher Funding Awards for Fiscal Year 2015 for the Housing Choice Voucher Program [Docket No. FR-5937-FA-01] March 29, 2016; all provisions HUD FY 2016 Median Family Income estimates and FY 2016 Income Limits March 28, 2016. HUD Notice PIH 2016-04: Implementation of the Federal Fiscal Year (FFY) 2016 Funding Provisions for the Housing Choice Voucher Program March 10, 2016; all provisions HUD Notice PIH 2016-02 (HA): Enhanced Voucher Requirements for Over-housed Families March 4, 2016; all provisions HUD Notice: Family Self Sufficiency Program in Multifamily March 15, 2016; all provisions HUD Final Rule: "Streamlining Administrative Regulations for the Public Housing, Housing Choice Voucher, Multifamily Housing, and Community Planning and Development Programs" [Docket No. FR 5743-F-03] March 1, 2016; all provisions and previously proposed rule HUD Section 8 Renewal Policy Guide, Chapter 9: Rent Comparability Studies revision draft February 23, 2016; all provisions Government Accountability Office (GAO) Report HOUSING FOR SPECIAL NEEDS: Funding for HUD's Supportive Housing Programs May, 2016 HUD Memorandum New UPCS Inspector Protocol Conferencing Bed Bug Infestation February 1, 2016; all provisions HUD Notice of Funding Availability (NOFA): Supportive Services Demonstration for Elderly Households in HUD-Assisted Multifamily Housing demonstration project January 20, 2016; all provisions relating to eligible owners of HUD-assisted senior housing developments to access funding that will cover the cost of a full-time enhanced service coordinator and a part-time wellness nurse Federal Housing Finance Agency Notice for Proposed Rulemaking: Enterprise Duty To Serve Underserved Markets, December 18, 2015 - 12 CFR Part 1282 [RIN 2590-AA27]; all provisions HUD Notice of Final Fiscal Year (FY) 2016 Fair Market Rents (FMRs) [Docket No. FR-5885-N-02]: "Final Fair Market Rents for the Housing Choice Voucher Program and Moderate Rehabilitation Single Room Occupancy Program and Other Programs Fiscal Year 2016" December 11, 2015; all provisions HUD Proposed Rule [Docket No. FR-5248-P-01] RIN 2529-AA94: "Quid Pro Quo and Hostile Environment Harassment and Liability for Discriminatory Housing Practices Under the Fair Housing Act" October 21, 2015; all provisions HUD Notice H 2015-10 & 19: "Guidance for Public Housing Agencies (PHAs) and Owners of Federally-Assisted Housing on Excluding the Use of Arrest Records in Housing Decisions" November 2, 2015; all provisions HUD Notice [Docket No. FR-5883-N-01]: "Notice of Certain Operating Cost Adjustment Factors for 2016" October 13, 2015; all provisions impacting project based assistance contracts for eligible multifamily housing projects. HUD Advanced Notice of Proposed Rulemaking [Docket No. FR-5855-A-01]: Establishing a More Effective Fair Market Rent (FMR) System; Using Small Area Fair Market Rents (SAFMRs) in Housing Choice Voucher Program Instead of the Current 50th Percentile FMRs; all provisions HUD Final Rule: Affirmatively Furthering Fair Housing [Docket No. FR-5173-F-04] RIN 2501-AD33; all provisions HUD Transmittal issued 8/7/15: Section 8 Renewal Policy Guidebook; all sections HUD Initiative "Transforming Multifamily for the 21st Century"; all provisions. HUD Draft FHA Multifamily Accelerated Processing (MAP) Guide; all provisions relating to federally assisted multifamily housing in chapters 1.5, 3, 3.6.C, 3.7.V, 3.8, 5, 5.2, 5.3, 5.10.L.5, 7.1, 7.8, 14.7, 18.3. HUD Memorandum: "Age Restrictions in FHA Insured Housing"; all provisions. HUD Notice PIH 2012-32 (HA), REV-2, Rental Assistance Demonstration - Final Implementation, Revision 2 June 15, 2015; all provisions. HUD Notice, "Violence Against Women Reauthorization Act of 2013: Implementation in HUD Housing Programs" [Docket No. FR-5720-P-02] March 25, 2015; all provisions of this HUD regulation, with emphasis on language concerning emergency housing transfers for victims of domestic violence claiming protection under VAWA. Final ruling and opinion in the Supreme Court case Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc. NAHMA participated in advocacy campaigns to advance affordable housing issues as a national issue during the 2016 election. NAHMA signed on to an industry letter sent to the Administrator for the US Department of Agricultures Rural Housing Service regarding the Section 538 Guaranteed Rural Rental Housing Program. The letter requested four policy changes to improve the Section 538 program: i) eliminate the NOFA and NOSA process to allow smoother, year-long underwriting and origination; ii) reduce the annual guarantee fee commensurate with similar loan products; iii) use the Section 538 program for refinances; and iv) allow the continuous guarantees to be underwritten with Ginnie Maes 70 percent loan-to-cost ratio Policies relating to affordable housing development in housing finance reform efforts in Congress. All policies relating to the expansion of the Low-Income Housing Tax Credit (LIHTC) All policies relating to HUD inspection protocol UPCS-V All policies relating to Housing Assistance Payments (HAP) Contracts All policies relating to Project Rental Assistance Contracts (PRACs) and strategies to preserve properties in this portfolio. All policies relating to funding and administration of the Housing Trust Fund. All policies and funding grants relating to the managing of lead-based paint at multifamily properties. All policies relating to the release and implementation of the Affirmatively Furthering Fair Housing rule from HUD. All policies relating to Performance-Based Contract Administration. All policies relating to the resumption of Management and Occupancy Reviews (MORs). Policies relating to student occupancy requirements in properties assisted through HUD or the Low-Income Housing Tax Credit. Policies relating to Rural Development Housing Preservation Grants. Rural Housing Service Final Rule: Civil Monetary Penalties (7 CFR Part 3560) [RIN 0575-AC93] August 23, 2016; all provisions. Rural Development Unnumbered Letter: The Cost of Tenant Services in Multi-Family Housing Properties August 8, 2016; all provisions. Rural Development Procedure Notice: Fiscal Year 2017 Management Fees July 29, 2016; all provisions. Rural Housing Service Notice: Rural Development Voucher Program June 29, 2016; all provisions. Rural Development Unnumbered Letter dated May 24, 2016: Management of Unused Rental Assistance; all provisions Rural Development Unnumbered Letter dated May 10, 2016: Hosting the U.S. Department of Agriculture Summer Food Service Programs at Rural Development Multi-Family Housing Properties; all provisions Rural Housing Service Announcement of Meetings: U.S. Department of Agriculture Multi-Family Housing Program 2016 Industry Forums-Open Teleconference and/or Web Conference Meetings Federal Register /Vol. 81, No. 90; May 10, 2016; all provisions Department of Agriculture, Rural Housing Service Notice: Notice of Solicitation of Applications for the Section 533 Housing Preservation Grants for Fiscal Year 2016; all provisions Rural Development unnumbered Letter dated March 18, 2016: Rental Assistance Obligation Tool; all provisions. Rural Development Administrative Notice dated February 5, 2016: Fiscal Year 2016 Site Manager and Maintenance Person of the Year Recognition Program; all provisions Rural Housing Service Notice: Notice of Solicitation of Applications for the Section 533 Housing Preservation Grants for Fiscal Year 2016 December 29, 2015; all provisions. Policies relating to USDA-RHS' Section 521 Rental Assistance; non-payment of rental assistance contracts in FY 2015 and initial months of FY 2016. Policies relating to the preservation of properties financed with mortgages from the Section 515 program; advocated for non-burdensome actions that will allow properties to either be acquired by new ownership or to refinance so that they may continue to receive Section 521 Rental Assistance Policies relating to management fee adjustments in Rural Development from 2010 to 2016; provisions relating of implementation of Operating Cost Adjustment Factors (OCAF) method. Offered recommendations in response to USDA-RHS' informal request for ideas to implement a performance-based management fee for apartments that receive Rural Rental Assistance. Advocated for policies to address ongoing occupancy issues, including prolonged vacancies, in properties that participate in USDA-RHS's Multifamily Housing programs. Advocated for policies to address improper payments in USDA-RHS's Section 521 Rural Rental Assistance program. All policies related to USDA Rural Development's Improper Payments Information Act (IPIA) audit for the Rental Assistance Program, Multi-Family Integrated System and its findings reviews, and rural housing preservation.

HR 1142 and S. 1193 amending IRC of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing

Client expense: Not reported · Firm income: $30,000

Government targets: HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), SENATE, Treasury, Dept of

H.R. 855, To amend the Internal Revenue Code of 1986 to permanently extend the new markets tax credit, and for other purposes H.R. 1001, To amend the Internal Revenue Code of 1986 to terminate certain energy tax subsidies and lower the corporate income tax rate H.R. 1142, To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program S. 394, A bill to amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property S. 591, New Markets Tax Credit Extension Act of 2015

Client expense: $59,236 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 855, To amend the Internal Revenue Code of 1986 to permanently extend the new markets tax credit, and for other purposes H.R. 1001, To amend the Internal Revenue Code of 1986 to terminate certain energy tax subsidies and lower the corporate income tax rate H.R. 1142, To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program S. 394, A bill to amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property S. 591, New Markets Tax Credit Extension Act of 2015

Client expense: $59,236 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Proposals impacting the low-income housing credit, including H.R. 1142 and S. 1193; to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. S.1946, Tax Relief Extension Act. H.R. 2029, Consolidated Appropriations Act. H.R. 3110/S. 1795, National Disaster Tax Relief Act. Proposals related to converting excess bonds into housing credits. S. 2962, Affordable Housing Credit Improvement Act. House Republican Tax Reform Task Force Blueprint.

Client expense: Not reported · Firm income: $30,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Public Law (P.L.) 114-94 (H.R. 22): Fixing Americas Surface Transportation (FAST) Act. Housing provisions included in House Amendment 827. P.L. 114-74 (H.R. 1314): the Bipartisan Budget Act of 2015. A two-year budget deal that suspended the federal borrowing cap until March 16, 2017; all provisions. P.L. 114-96 (H.R. 2250): Further Continuing Appropriations Act, 2015. This bill provided an additional temporary extension for FY 2016 funding at the same funding level as FY 2015 with an expiration date of December 16, 2015; all provisions P.L. 114-113 (H.R. 2029): Consolidated Appropriations Act, 2016. Omnibus bill providing appropriations for the remainder of FY 2016; provisions under Division L, Transportation, Housing and Urban Development, and Related Agencies Appropriations Act, 2016: Title II - Department of Housing and Urban Development, Division A, Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2016: Title III - Rural Development Programs, and Division Q, Protecting Americans from Tax Hikes Act, 2016: Part IV - Incentives for Real Estate Investment, Section 131 Extension of minimum low-income housing tax credit rate for non-Federally subsidized buildings. P.L. 114-53 (H.R. 719): Continuing appropriations Act, 2016. This bill is a temporary continuing resolution (CR) which funded the federal government for fiscal year (FY) 2016 at the same funding as FY 2015 until December 11, 2015; provisions related to (Sec. 117): Provides USDA with funding flexibility to pay ongoing debt service for multi-family direct loan program rental assistance contracts under sections 514 and 515 of the Housing Act of 1949. Permits the renewal during the duration of the CR of rental assistance contracts entered into or renewed in 2015 that exhausted funds within the 12-month contract period. H.R. 5170: the Social Impact Partnerships to Pay for Results Act; this bill would require the Treasury Department to publish a request for proposals from states or local governments for social impact partnership projects which produce one or more measurable, clearly defined outcomes that result in social benefit; all provisions. H.R. 5254: the Senior Accessible Housing Act. This bill would create a non-refundable personal tax credit for senior citizens who modify their residences so that they may remain living independently, and comfortably in the residences; all provisions. H.R. 5401: the Landlord Accountability Act of 2016; this bill would mandate that owners of any HCV unit that is available for rent may not take any action, or fail to take any action, with the intent to make the unit insufficiently decent, safe, sanitary, or inhabitable so that the dwelling does not qualify for assistance; all provisions. H.R. 5360: the Welfare Reform and Upward Mobility Act; this bill would prohibit Congress from funding housing programs and replace them with a single state block grant for all housing activities; this would affect all HUD programs as well as all rental assistance programs provided through the U.S. Department of Agricultures Rural Development; all provisions. H.R.5202: Preserving HUD's Multifamily Field Offices Act of 2016; this bill would preserve asset management staff in each of HUDs 54 multifamily field offices across the country and would require HUD to back-fill all asset management positions in every field office; all provisions. H.R. 5058: the Fair Chance at Housing Act of 2016; this bill would overhaul eviction and screening policies for housing assistance programs and revise standards of evidence for eviction when criminal activity is involved. Public Housing Authorities (PHAs) and property owners would be required to adopt an all-inclusive approach in their determination of mitigating factors for tenants with a criminal record, such as how long ago the offense occurred or if the individual is seeking rehabilitation services; all provisions. H.R. 4908: the Rural Housing Preservation Act of 2016; this bill would require that any owner of a property financed with a loan made or insured under Section 515, whether the loan is outstanding or fully paid, must lease an available unit to a family or individual with a Rural Housing Voucher (RHV). Additionally, the bill seeks to decouple the rental assistance from maturing mortgages; all provisions. H.R. 4888: The Ending Homelessness Act of 2016. This bill seeks to provide resources to end homelessness in America through $13.27 billion in emergency funding over the next five years. H.R. 4888 would also implement strategies for outreach and case management, as well as technical assistance to help states and local jurisdictions better align their healthcare and housing; all provisions. H.R. 4753: The Wounded Warrior Housing Reform Act of 2016. This bill would exclude Service-connected disability compensation, and pensions paid to a veteran age 65 or older from consideration as income for affordable housing programs; all provisions. H.R. 3700: Housing Opportunity through Modernization Act of 2015. This bill incorporates different housing reform bills introduced in the 114th Congress: The Preservation Enhancement and Savings Opportunity Act of 2015 (H.R. 2482), The Private Investment in Housing Act (H.R. 2997). It includes a drafted bill from the 113th Congress which has not been formally introduced, the Affordable Housing and Self-Sufficiency Improvement Act of 2012 (AHSSIA); all provisions. H.R. 1142: To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit. This bill would make permanent a 9 percent minimum rate for new housing projects and 4 percent rate for acquiring existing housing for rehabilitation; all provisions S. 3100: Stop Dangerous Sanctuary Cities Act; this bill aims to strengthen homeland security efforts in small, local communities. A provision in this bill would prevent Community Development Block Grant (CDBG) funds and other federal funds from being provided to communities that are so called sanctuary cities; all provisions relating to the CDBG. S. 3083: the Housing Opportunity Through Modernization Act (HOTMA); This bill incorporates different housing reform bills introduced in the 114th Congress: The Preservation Enhancement and Savings Opportunity Act of 2015 (H.R. 2482), The Private Investment in Housing Act (H.R. 2997). It includes a drafted bill from the 113th Congress which has not been formally introduced, the Affordable Housing and Self-Sufficiency Improvement Act of 2012 (AHSSIA). It is the Senate companion bill to H.R. 3700; all provisions. S.3047, the Welfare Reform and Upward Mobility Act; this bill would prohibit Congress from funding housing programs and replace them with a single state block grant for all housing activities; this would affect all HUD programs as well as all rental assistance programs provided through the U.S. Department of Agricultures Rural Development; all provisions. S.2783: the Rural Housing Preservation Act of 2016; this bill would require that any owner of a property financed with a loan made or insured under Section 515, whether the loan is outstanding or fully paid, must lease an available unit to a family or individual with a Rural Housing Voucher (RHV). Additionally, the bill seeks to decouple the rental assistance from maturing mortgages; all provisions S.2868: the Investing in Opportunity Act; this bill would private investment in economically distressed communities would be encouraged by a temporary capital gains deferral for reinvestment in Opportunity Zones - geographically targeted low-income areas that will be designated by state governors; all provisions related to affordable multifamily housing development Republican Study Committees (RSC) Empowerment Initiative recommendations for an anti-poverty agenda intended to modernize Americas social safety net programs Strengthening Our Safety Net to Empower People, April 25, 2016; all provisions concerning federally assisted housing programs. House Tax Reform Task Force tax reform blueprint titled A Pro-Growth Tax Code for All Americans. This tax reform blueprint promotes broad agenda items being pursued as part of House Speaker Paul Ryans (R-WI) A Better Way agenda to reform the tax system of the United States; provisions relating to the Low-Income Housing Tax Credit (LIHTC). House Budget Committee resolution for fiscal year 2017 titled A Balanced Budget for a Stronger America March 23, 2016. All provisions relating to the Federal Housing Administration (FHA) and the use of fair-value accounting principles for federally financed multifamily mortgages. HUD Proposed Rule: Establishing a More Effective Fair Market Rent System; Using Small Area Fair Market Rents in Housing Choice Voucher Program Instead of the Current 50th Percentile FMRs [Docket No. FR-5855-P-02] June 16, 2016; all provisions. HUD Notice PIH 2016-09 (HA): Housing Choice Voucher (HCV) Family Moves with Continued Assistance, Family Briefing, and Voucher Terms Suspension June 6, 2016; all provisions. Response to Office of the Comptroller of the Currency (OCC) white paper: "Supporting Responsible Innovation in the Federal Banking System." NAHMA signed on to comments in response to the OCC's request. HOMEfires - Vol. 13 No. 2: Information on utility allowance (UA) requirement established in the 2013 HOME Final Rule (HOME Rule) May, 2016 HUD Notice: Notice of Demonstration to Test Proposed New Method of Assessing the Physical Conditions of Voucher-Assisted Housing [Docket No. FR-5928-N-01] May 4, 2016; all provisions. HUD Notice of Fiscal Year (FY) 2016 Annual Adjustment Factors (AAFs): Section 8 Housing Assistance Payments Program-Annual Adjustment Factors, Fiscal Year 2016 May 3, 2016; all provisions. HUD Notice CPD-16-07: Guidance for HTF Grantees on Fiscal Year 2016 Housing Trust Fund (HTF) Allocation Plans April 26, 2016; all provisions HUD Frequently Asked Questions on Transferring Budget Authority under Section 8(bb)(1) April 22, 2016; all provisions. HUD Notice: Section 8 Housing Assistance Payments Program-Fiscal Year (FY) 2016 Inflation Factors for Public Housing Agency (PHA) Renewal Funding [Docket No. FR-5939-N-01] April 15, 2016; all provisions. HUD Congressional Implementation Plan: Budget Neutral Demonstration Program for Energy and Water Conservation Improvements at Multifamily Residential Units (Title LXXI, Section 81001) March 4, 2016; all provisions HUD Report: Preservation Options for Section 236 Properties April 6, 2016 HUD Office of General Council (OGC) Guidance: "Application of Fair Housing Act Standards to the Use of Criminal Records by Providers of Housing and Real Estate-Related Transactions" April 4, 2016; all provisions. HUD Notice H 2016-05: Revision of Tenant Participation Requirements in accordance with 24 CFR Part 245 March 31, 2016; all provisions. HUD Office of General Counsel (OGC) guidance: Application of Fair Housing Act Standards to the Use of Criminal Records by Providers of Housing and Real Estate-Related Transactions April 4, 2016; all provisions. HUD Report: Understanding Whom the LIHTC Program Serves: Tenants in LIHTC Units as of December 31, 2012 March 25, 2016. HUD Announcement of Fiscal Year 2015 Funding Awards: Announcement of Tenant Protection Voucher Funding Awards for Fiscal Year 2015 for the Housing Choice Voucher Program [Docket No. FR-5937-FA-01] March 29, 2016; all provisions HUD Notice: Announcement of Tenant Protection Voucher Funding Awards for Fiscal Year 2015 for the Housing Choice Voucher Program [Docket No. FR-5937-FA-01] March 29, 2016; all provisions HUD FY 2016 Median Family Income estimates and FY 2016 Income Limits March 28, 2016. HUD Notice PIH 2016-04: Implementation of the Federal Fiscal Year (FFY) 2016 Funding Provisions for the Housing Choice Voucher Program March 10, 2016; all provisions HUD Notice PIH 2016-02 (HA): Enhanced Voucher Requirements for Over-housed Families March 4, 2016; all provisions HUD Notice: Family Self Sufficiency Program in Multifamily March 15, 2016; all provisions HUD Proposed Rule Section 542(c) Housing Finance Agencies Risk-Sharing Program: Revisions to Regulations [Docket No FR-5881-P-01] March 8, 2016; all provisions relating to affordable, multifamily housing property mortgages. HUD Final Rule: "Streamlining Administrative Regulations for the Public Housing, Housing Choice Voucher, Multifamily Housing, and Community Planning and Development Programs" [Docket No. FR 5743-F-03] March 1, 2016; all provisions and previously proposed rule HUD Section 8 Renewal Policy Guide, Chapter 9: Rent Comparability Studies revision draft February 23, 2016; all provisions Government Accountability Office (GAO) Report HOUSING FOR SPECIAL NEEDS: Funding for HUD's Supportive Housing Programs May, 2016 Department of Justice, Office for Victims of Crime report: Federal Strategic Action Plan on Services for Victims of Human Trafficking in the United States 2013-2017; provisions relating to housing assistance for human trafficking victims; advised members of NAHMA to participate in a conference call between HUD and the Department of Health and Human Services on the intersection of human trafficking and the need for housing and social services for survivors - February 24, 2016. HUD Memorandum New UPCS Inspector Protocol Conferencing Bed Bug Infestation February 1, 2016; all provisions HUD Memorandum Renewal of Expiring Project Assistance Contracts (PACs) Under the Section 202 Program of Supportive Housing for the Elderly and for Persons with Disabilities for Fiscal Year (FY 2016) January 5, 2016; all provisions HUD Notice H 2016-01: Passbook Savings Rate Effective February 1, 2016 January 19, 2016; all provisions relating to the passbook savings rate, which is used to determine annual income from net family assets. HUD Notice of Funding Availability (NOFA): Supportive Services Demonstration for Elderly Households in HUD-Assisted Multifamily Housing demonstration project January 20, 2016; all provisions relating to eligible owners of HUD-assisted senior housing developments to access funding that will cover the cost of a full-time enhanced service coordinator and a part-time wellness nurse Security and Exchange Commission Notice [Release No. 34-76148; File No. SR-FINRA-2015-036]: "Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of a Proposed Rule Change To Amend FINRA Rule 4210 (Margin Requirements) To Establish Margin Requirements for the TBA Market" October 14, 2015; all provisions relating to the coverage of multifamily agency forward-settling transactions in the multifamily financing market. Federal Housing Finance Agency Notice for Proposed Rulemaking: Enterprise Duty To Serve Underserved Markets, December 18, 2015 - 12 CFR Part 1282 [RIN 2590-AA27]; all provisions HUD Notice of Final Fiscal Year (FY) 2016 Fair Market Rents (FMRs) [Docket No. FR-5885-N-02]: "Final Fair Market Rents for the Housing Choice Voucher Program and Moderate Rehabilitation Single Room Occupancy Program and Other Programs Fiscal Year 2016" December 11, 2015; all provisions HUD Proposed Rule [Docket No. FR-5248-P-01] RIN 2529-AA94: "Quid Pro Quo and Hostile Environment Harassment and Liability for Discriminatory Housing Practices Under the Fair Housing Act" October 21, 2015; all provisions HUD Notice H 2015-10 & 19: "Guidance for Public Housing Agencies (PHAs) and Owners of Federally-Assisted Housing on Excluding the Use of Arrest Records in Housing Decisions" November 2, 2015; all provisions HUD Guide: Rental Assistance Demonstration (RAD), Quick Reference Guide to Multifamily Housing Requirements, October 2015; all provisions HUD Notice [Docket No. FR-5883-N-01]: "Notice of Certain Operating Cost Adjustment Factors for 2016" October 13, 2015; all provisions impacting project based assistance contracts for eligible multifamily housing projects. President Obama Executive Order 13690: The Federal Flood Risk Management Standard for federal agencies; all provisions which impact multifamily housing properties financed through the Federal Housing Administration (FHA) HUD Advanced Notice of Proposed Rulemaking [Docket No. FR-5855-A-01]: Establishing a More Effective Fair Market Rent (FMR) System; Using Small Area Fair Market Rents (SAFMRs) in Housing Choice Voucher Program Instead of the Current 50th Percentile FMRs; all provisions HUD Final Notice [Docket No. FR-5728-N-02]: Federal Housing Administration (FHA): Small Building Risk Sharing Initiative; all provisions HUD Final Rule: Affirmatively Furthering Fair Housing [Docket No. FR-5173-F-04] RIN 2501-AD33; all provisions HUD Transmittal issued 8/7/15: Section 8 Renewal Policy Guidebook; all sections HUD Initiative "Transforming Multifamily for the 21st Century"; all provisions. HUD Draft FHA Multifamily Accelerated Processing (MAP) Guide; all provisions relating to federally assisted multifamily housing in chapters 1.5, 3, 3.6.C, 3.7.V, 3.8, 5, 5.2, 5.3, 5.10.L.5, 7.1, 7.8, 14.7, 18.3. HUD Memorandum: "Age Restrictions in FHA Insured Housing"; all provisions. HUD Notice PIH 2012-32 (HA), REV-2, Rental Assistance Demonstration - Final Implementation, Revision 2 June 15, 2015; all provisions. HUD Notice, "Violence Against Women Reauthorization Act of 2013: Implementation in HUD Housing Programs" [Docket No. FR-5720-P-02] March 25, 2015; all provisions of this HUD regulation, with emphasis on language concerning emergency housing transfers for victims of domestic violence claiming protection under VAWA. Final ruling and opinion in the Supreme Court case Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc. Policies relating to affordable housing development in housing finance reform efforts in Congress. All policies relating to the expansion of the Low-Income Housing Tax Credit (LIHTC) All policies relating to HUD inspection protocol UPCS-V All policies relating to Housing Assistance Payments (HAP) Contracts All policies relating to Project Rental Assistance Contracts (PRACs) and strategies to preserve properties in this portfolio. All policies relating to funding and administration of the Housing Trust Fund. All policies and funding grants relating to the managing of lead-based paint at multifamily properties. All policies relating to the release and implementation of the Affirmatively Furthering Fair Housing rule from HUD. All policies relating to Performance-Based Contract Administration. All policies relating to the resumption of Management and Occupancy Reviews (MORs). Policies relating to student occupancy requirements in properties assisted through HUD or the Low-Income Housing Tax Credit. Policies relating to Fair Value Accounting in federal estimates of housing programs. Rural Housing Service Notice: Rural Development Voucher Program June 29, 2016; all provisions. Rural Development Unnumbered Letter dated May 24, 2016: Management of Unused Rental Assistance; all provisions Rural Development Unnumbered Letter dated May 10, 2016: Hosting the U.S. Department of Agriculture Summer Food Service Programs at Rural Development Multi-Family Housing Properties; all provisions Rural Housing Service Announcement of Meetings: U.S. Department of Agriculture Multi-Family Housing Program 2016 Industry Forums-Open Teleconference and/or Web Conference Meetings Federal Register /Vol. 81, No. 90; May 10, 2016; all provisions Department of Agriculture, Rural Housing Service Notice: Notice of Solicitation of Applications for the Section 533 Housing Preservation Grants for Fiscal Year 2016; all provisions Rural Development unnumbered Letter dated March 18, 2016: Rental Assistance Obligation Tool; all provisions. Rural Development Administrative Notice dated February 5, 2016: Fiscal Year 2016 Site Manager and Maintenance Person of the Year Recognition Program; all provisions Rural Housing Service Notice: Notice of Solicitation of Applications for the Section 533 Housing Preservation Grants for Fiscal Year 2016 December 29, 2015; all provisions. Policies relating to USDA-RHS' Section 521 Rental Assistance; non-payment of rental assistance contracts in FY 2015 and initial months of FY 2016. Policies relating to the preservation of properties financed with mortgages from the Section 515 program; advocated for non-burdensome actions that will allow properties to either be acquired by new ownership or to refinance so that they may continue to receive Section 521 Rental Assistance Policies relating to management fee adjustments in Rural Development from 2010 to 2016; provisions relating of implementation of Operating Cost Adjustment Factors (OCAF) method. Offered recommendations in response to USDA-RHS' informal request for ideas to implement a performance-based management fee for apartments that receive Rural Rental Assistance. Advocated for policies to address ongoing occupancy issues, including prolonged vacancies, in properties that participate in USDA-RHS's Multifamily Housing programs. Advocated for policies to address improper payments in USDA-RHS's Section 521 Rural Rental Assistance program. All policies related to USDA Rural Development's Improper Payments Information Act (IPIA) audit for the Rental Assistance Program, Multi-Family Integrated System and its findings reviews, and rural housing preservation.

H.R. 765, To amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property H.R. 855, To amend the Internal Revenue Code of 1986 to permanently extend the new markets tax credit, and for other purposes H.R. 1001, To amend the Internal Revenue Code of 1986 to terminate certain energy tax subsidies and lower the corporate income tax rate H.R. 1142, To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program H.R. 3110, National Disaster Tax Relief Act of 2015 S. 394, A bill to amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property S. 591, New Markets Tax Credit Extension Act of 2015 S. 1193, A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program S. 1795, National Disaster Tax Relief Act

Client expense: $22,123 · Firm income: Not reported

HR 1142 and S. 1193 amending IRC of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing

Client expense: Not reported · Firm income: $30,000

Government targets: HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), SENATE, Treasury, Dept of

Proposals impacting the low-income housing credit, including H.R. 1142 and S. 1193; to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. S.1946, Tax Relief Extension Act. H.R. 2029, Consolidated Appropriations Act. H.R. 3110/S. 1795, National Disaster Tax Relief Act. Proposals related to converting excess bonds into housing credits.

Client expense: Not reported · Firm income: $30,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Internal Revenue Service Final and Temporary Regulations: Utility Allowance Submetering March 3, 2016 - 26 CFR Part 1 [TD 9755] RIN 1545-BI91; all provisions relating to policies that amend the utility allowance regulations for the Low-Income Housing Tax Credit (LIHTC). Internal Revenue Service Final and Temporary Regulations: Amendments to the Low-Income Housing Credit Compliance-Monitoring Regulations February 25, 2016 - 26 CFR Part 1 [TD 9753] RIN 1545-BL84; all provisions relating to the minimum number of units for which an agency must conduct physical inspections and low-income certifications. Office of Senator Maria Cantwell Addressing the Challenges of Affordable Housing and Homelessness: the Housing Tax Credit - a report detailing LIHTC usage and access for low-income families in the state of Washington and nationally. P.L. 114-113 (H.R. 2029): Consolidated Appropriations Act, 2016. Omnibus bill providing appropriations for the remainder of FY 2016; provisions under Division L, Transportation, Housing and Urban Development, and Related Agencies Appropriations Act, 2016: Title II - Department of Housing and Urban Development, Division A, Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2016: Title III - Rural Development Programs, and Division Q, Protecting Americans from Tax Hikes Act, 2016: Part IV - Incentives for Real Estate Investment, Section 131 Extension of minimum low-income housing tax credit rate for non-Federally subsidized buildings. Internal Revenue Service Memo [UIL 42.07.04]: Low-income Housing Credit (LIHC) - Noncompliance Resulting from Conflicting Program Requirements; all provisions Revenue Ruling 2015-15 Appropriate Percentages Under Section 42(b)(1) for July 2015; all provisions S. 1139: Improving the Low-Income Housing Tax Credit Rate Act. A bill to amend the Internal Revenue Code of 1986 to make permanent the minimum low-income housing tax credit rate for unsubsidized buildings and to provide a minimum 4 percent credit rate for existing buildings; all provisions. H.R.1142: To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program; all provisions. S.2260: Expiring Provisions Improvement, Reform, and Efficiency (EXPIRE) Act of 2014. TITLE I, Subtitle B, Sec. 112-Extension and modification of temporary minimum low-income housing tax credit rate for non-federally subsidized buildings; all provisions. H.R. 5771: Tax Increase Prevention Act of 2014. Division A Title 1 Sec. 112. Extension of temporary minimum low-income housing tax credit rate for non-federally subsidized buildings; all provisions. HUD Memorandum, "Occupancy Protections for HUD-Assisted Households in Properties with Low-Income Housing Tax Credits" January 12, 2015; all provisions Department of Treasury Notice 2015-27, "Public Comment Invited on Recommendations for 2015-2016 Priority Guidance Plan" Submitted recommendations for tax reform in the United States to the Senate Finance Committee; provisions related to the low-income housing tax credit.

Public Law (P.L.) 114-94 (H.R. 22): Fixing Americas Surface Transportation (FAST) Act. Housing provisions included in House Amendment 827. P.L. 114-74 (H.R. 1314): the Bipartisan Budget Act of 2015. A two-year budget deal that suspended the federal borrowing cap until March 16, 2017; all provisions. P.L. 114-96 (H.R. 2250): Further Continuing Appropriations Act, 2015. This bill provided an additional temporary extension for FY 2016 funding at the same funding level as FY 2015 with an expiration date of December 16, 2015; all provisions P.L. 114-113 (H.R. 2029): Consolidated Appropriations Act, 2016. Omnibus bill providing appropriations for the remainder of FY 2016; provisions under Division L, Transportation, Housing and Urban Development, and Related Agencies Appropriations Act, 2016: Title II - Department of Housing and Urban Development, Division A, Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2016: Title III - Rural Development Programs, and Division Q, Protecting Americans from Tax Hikes Act, 2016: Part IV - Incentives for Real Estate Investment, Section 131 Extension of minimum low-income housing tax credit rate for non-Federally subsidized buildings. P.L. 114-53 (H.R. 719): Continuing appropriations Act, 2016. This bill is a temporary continuing resolution (CR) which funded the federal government for fiscal year (FY) 2016 at the same funding as FY 2015 until December 11, 2015; provisions related to (Sec. 117): Provides USDA with funding flexibility to pay ongoing debt service for multi-family direct loan program rental assistance contracts under sections 514 and 515 of the Housing Act of 1949. Permits the renewal during the duration of the CR of rental assistance contracts entered into or renewed in 2015 that exhausted funds within the 12-month contract period. P.L. 113-235 (H.R. 83): the Consolidated and Further Continuing Appropriations Act, 2014; all provisions relating to funding for federal affordable housing programs in FY 2015. H.R. 4888: The Ending Homelessness Act of 2016. This bill seeks to provide resources to end homelessness in America through $13.27 billion in emergency funding over the next five years. H.R. 4888 would also implement strategies for outreach and case management, as well as technical assistance to help states and local jurisdictions better align their healthcare and housing; all provisions. H.R. 4753: The Wounded Warrior Housing Reform Act of 2016. This bill would exclude Service-connected disability compensation, and pensions paid to a veteran age 65 or older from consideration as income for affordable housing programs; all provisions. H.R. 3700: Housing Opportunity through Modernization Act of 2015. This bill incorporates different housing reform bills introduced in the 114th Congress: The Preservation Enhancement and Savings Opportunity Act of 2015 (H.R. 2482), The Private Investment in Housing Act (H.R. 2997). It includes a drafted bill from the 113th Congress which has not been formally introduced, the Affordable Housing and Self-Sufficiency Improvement Act of 2012 (AHSSIA); all provisions H.R. 3697: The Section 3 Modernization and Improvement Act of 2015. This bill aims to increase enforcement and Congressional oversight of Section 3 properties; all provisions H.R. 2482: Preservation Enhancement and Savings Opportunity Act of 2015. This bill amends and eliminates certain owner limitations under the Low-Income Housing Preservation and Resident Homeownership Act of 1990 (LIHPRHA). H.R. 2997: Private Investment in Housing Act, 2015. This bill would allow HUD to establish a demonstration program under which, in FY 2016 through FY 2019, HUD may execute budget-neutral, performance-based agreements (for up to 12 years each) that result in a reduction in energy or water costs; all provisions H.R. 1047: Housing Assistance Efficiency Act of 2015. This bill would amend the McKinney-Vento Homeless Assistance Act to allow a private nonprofit organization to administer permanent housing rental assistance provided through the Continuum of Care Program; all provisions H.R. 233: The Tenant Income Verification Relief Act of 2015. This bill would allow income reviews for fixed-income families to be completed every three years rather than the current annual inspection used to determine assisted housing program eligibility; all provisions S. 2012: Energy Policy Modernization Act of 2015. This bill would create a demonstration program under which the Secretary of HUD may enter into agreements with multifamily property owners that result in a reduction in energy or water costs; all provisions S. 1412: Housing for Homeless Students Act of 2015. A bill to qualify homeless youth and veterans who are full-time students for purposes of the low income housing tax credit; all provisions S.1139: Improving the Low Income Housing Tax Credit Rate Act of 2015. This bill would make permanent a 9 percent minimum rate for new housing projects and a 4 percent rate for acquiring existing housing for rehabilitation; all provisions S.1909: Local Zoning Decisions Protection Act, 2015. A bill which would prevent any federal funding for implementing HUDs final rule Affirmatively Furthering Fair Housing; all provisions H.R. 1142: To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit. This bill would make permanent a 9 percent minimum rate for new housing projects and 4 percent rate for acquiring existing housing for rehabilitation; all provisions H.R. 1995: the Local Zoning and Property Rights Protection Act of 2015. This bill would prohibit HUD from implementing its proposed rule entitled Affirmatively Furthering Fair Housing; all provisions HUD Notice: Announcement of Tenant Protection Voucher Funding Awards for Fiscal Year 2015 for the Housing Choice Voucher Program [Docket No. FR-5937-FA-01] March 29, 2016; all provisions HUD FY 2016 Median Family Income estimates and FY 2016 Income Limits March 28, 2016. HUD Notice PIH 2016-04: Implementation of the Federal Fiscal Year (FFY) 2016 Funding Provisions for the Housing Choice Voucher Program March 10, 2016; all provisions HUD Notice PIH 2016-02 (HA): Enhanced Voucher Requirements for Over-housed Families March 4, 2016; all provisions HUD Notice: Family Self Sufficiency Program in Multifamily March 15, 2016; all provisions HUD Proposed Rule Section 542(c) Housing Finance Agencies Risk-Sharing Program: Revisions to Regulations [Docket No FR-5881-P-01] March 8, 2016; all provisions relating to affordable, multifamily housing property mortgages. HUD Final Rule: "Streamlining Administrative Regulations for the Public Housing, Housing Choice Voucher, Multifamily Housing, and Community Planning and Development Programs" [Docket No. FR 5743-F-03] March 1, 2016; all provisions and previously proposed rule HUD Section 8 Renewal Policy Guide, Chapter 9: Rent Comparability Studies revision draft February 23, 2016; all provisions Department of Justice, Office for Victims of Crime report: Federal Strategic Action Plan on Services for Victims of Human Trafficking in the United States 2013-2017; provisions relating to housing assistance for human trafficking victims; advised members of NAHMA to participate in a conference call between HUD and the Department of Health and Human Services on the intersection of human trafficking and the need for housing and social services for survivors - February 24, 2016. HUD Memorandum New UPCS Inspector Protocol Conferencing Bed Bug Infestation February 1, 2016; all provisions HUD Memorandum Renewal of Expiring Project Assistance Contracts (PACs) Under the Section 202 Program of Supportive Housing for the Elderly and for Persons with Disabilities for Fiscal Year (FY 2016) January 5, 2016; all provisions HUD Notice H 2016-01: Passbook Savings Rate Effective February 1, 2016 January 19, 2016; all provisions relating to the passbook savings rate, which is used to determine annual income from net family assets. HUD Notice of Funding Availability (NOFA): Supportive Services Demonstration for Elderly Households in HUD-Assisted Multifamily Housing demonstration project January 20, 2016; all provisions relating to eligible owners of HUD-assisted senior housing developments to access funding that will cover the cost of a full-time enhanced service coordinator and a part-time wellness nurse HUD Notice PIH 2016-01: Family Unification Program and Family Self Sufficiency Demonstration January 15, 2016; all provisions relating to Public Housing Agencies (PHAs) opportunity to participate in a demonstration testing the effectiveness of combining housing choice vouchers for eligible youth with assistance under the Family Self Sufficiency program. HUD National Disaster Resilience Competition (NDRC); all provisions relating to housing and infrastructure projects in states and communities that were impacted by major disasters between 2011 and 2013. Security and Exchange Commission Notice [Release No. 34-76148; File No. SR-FINRA-2015-036]: "Self-Regulatory Organizations; Financial Industry Regulatory Authority, Inc.; Notice of Filing of a Proposed Rule Change To Amend FINRA Rule 4210 (Margin Requirements) To Establish Margin Requirements for the TBA Market" October 14, 2015; all provisions relating to the coverage of multifamily agency forward-settling transactions in the multifamily financing market. Federal Housing Finance Agency Notice for Proposed Rulemaking: Enterprise Duty To Serve Underserved Markets, December 18, 2015 - 12 CFR Part 1282 [RIN 2590-AA27]; all provisions HUD Notice of Final Fiscal Year (FY) 2016 Fair Market Rents (FMRs) [Docket No. FR-5885-N-02]: "Final Fair Market Rents for the Housing Choice Voucher Program and Moderate Rehabilitation Single Room Occupancy Program and Other Programs Fiscal Year 2016" December 11, 2015; all provisions HUD Proposed Rule [Docket No. FR-5248-P-01] RIN 2529-AA94: "Quid Pro Quo and Hostile Environment Harassment and Liability for Discriminatory Housing Practices Under the Fair Housing Act" October 21, 2015; all provisions HUD Notice H 2015-10: "Guidance for Public Housing Agencies (PHAs) and Owners of Federally-Assisted Housing on Excluding the Use of Arrest Records in Housing Decisions" November 2, 2015; all provisions HUD Notice PIH 2015-19: "Guidance for Public Housing Agencies (PHAs) and Owners of Federally-Assisted Housing on Excluding the Use of Arrest Records in Housing Decisions" November 2, 2015; all provisions HUD Guide: Rental Assistance Demonstration (RAD), Quick Reference Guide to Multifamily Housing Requirements, October 2015; all provisions HUD Notice [Docket No. FR-5883-N-01]: "Notice of Certain Operating Cost Adjustment Factors for 2016" October 13, 2015; all provisions impacting project based assistance contracts for eligible multifamily housing projects. President Obama Executive Order 13690: The Federal Flood Risk Management Standard for federal agencies; all provisions which impact multifamily housing properties financed through the Federal Housing Administration (FHA) HUD Advanced Notice of Proposed Rulemaking [Docket No. FR-5855-A-01]: Establishing a More Effective Fair Market Rent (FMR) System; Using Small Area Fair Market Rents (SAFMRs) in Housing Choice Voucher Program Instead of the Current 50th Percentile FMRs; all provisions HUD Final Notice [Docket No. FR-5728-N-02]: Federal Housing Administration (FHA): Small Building Risk Sharing Initiative; all provisions HUD Final Rule: Affirmatively Furthering Fair Housing [Docket No. FR-5173-F-04] RIN 2501-AD33; all provisions HUD Transmittal issued 8/7/15: Section 8 Renewal Policy Guidebook; all sections HUD Initiative "Transforming Multifamily for the 21st Century"; all provisions. HUD Draft FHA Multifamily Accelerated Processing (MAP) Guide; all provisions relating to federally assisted multifamily housing in chapters 1.5, 3, 3.6.C, 3.7.V, 3.8, 5, 5.2, 5.3, 5.10.L.5, 7.1, 7.8, 14.7, 18.3. HUD Memorandum: "Age Restrictions in FHA Insured Housing"; all provisions. HUD Notice PIH 2012-32 (HA), REV-2, Rental Assistance Demonstration - Final Implementation, Revision 2 June 15, 2015; all provisions. HUD Proposed Rule, "Supportive Housing and Services for the Elderly and Persons With Disabilities: Implementing Statutory Reforms-Reopening of Public Comment" [Docket No. FR-5576-N-02], Dec 11, 2014; all provisions. HUD Memorandum, "Occupancy Protections for HUD-Assisted Households in Properties with Low-Income Housing Tax Credits" January 12, 2015; all provisions. HUD Notice, "Enforcement of Davis-Bacon Act wage requirements for projects participating in the second component of the Rental Assistance Demonstration program" December 23, 2015; all provisions. HUD Notice, "Violence Against Women Reauthorization Act of 2013: Implementation in HUD Housing Programs" [Docket No. FR-5720-P-02] March 25, 2015; all provisions of this HUD regulation, with emphasis on language concerning emergency housing transfers for victims of domestic violence claiming protection under VAWA. Final ruling and opinion in the Supreme Court case Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc. Policies relating to affordable housing development in housing finance reform efforts in Congress. All policies relating to the expansion of the Low-Income Housing Tax Credit (LIHTC) All policies relating to HUD inspection protocol UPCS-V All policies relating to Housing Assistance Payments (HAP) Contracts All policies relating to Project Rental Assistance Contracts (PRACs) and strategies to preserve properties in this portfolio. All policies relating to funding and administration of the Housing Trust Fund. All policies and funding grants relating to the managing of lead-based paint at multifamily properties. All policies relating to the release and implementation of the Affirmatively Furthering Fair Housing rule from HUD. All policies relating to Performance-Based Contract Administration. All policies relating to the resumption of Management and Occupancy Reviews (MORs). Policies relating to student occupancy requirements in properties assisted through HUD or the Low-Income Housing Tax Credit. Policies relating to Fair Value Accounting in federal estimates of housing programs. Department of Agriculture, Rural Housing Service Notice: Notice of Solicitation of Applications for the Section 533 Housing Preservation Grants for Fiscal Year 2016; all provisions Rural Development unnumbered Letter dated March 18, 2016: Rental Assistance Obligation Tool; all provisions. Rural Development Administrative Notice dated February 5, 2016: Fiscal Year 2016 Site Manager and Maintenance Person of the Year Recognition Program; all provisions Rural Housing Service Notice: Notice of Solicitation of Applications for the Section 533 Housing Preservation Grants for Fiscal Year 2016 December 29, 2015; all provisions. Policies relating to USDA-RHS' Section 521 Rental Assistance; non-payment of rental assistance contracts in FY 2015 and initial months of FY 2016. Policies relating to the preservation of properties financed with mortgages from the Section 515 program; advocated for non-burdensome actions that will allow properties to either be acquired by new ownership or to refinance so that they may continue to receive Section 521 Rental Assistance Policies relating to management fee adjustments in Rural Development from 2010 to 2016; provisions relating of implementation of Operating Cost Adjustment Factors (OCAF) method. Offered recommendations in response to USDA-RHS' informal request for ideas to implement a performance-based management fee for apartments that receive Rural Rental Assistance. Advocated for policies to address ongoing occupancy issues, including prolonged vacancies, in properties that participate in USDA-RHS's Multifamily Housing programs. Advocated for policies to address improper payments in USDA-RHS's Section 521 Rural Rental Assistance program. All policies related to USDA Rural Development's Improper Payments Information Act (IPIA) audit for the Rental Assistance Program, Multi-Family Integrated System and its findings reviews, and rural housing preservation.

HR 1142 and S. 1193 amending IRC of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing

Client expense: Not reported · Firm income: $30,000

Government targets: HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), SENATE, Treasury, Dept of

Increasing Budget Authority in FY16 Budget for HUD 108 program and HOME program, Low Income Housing Tax Credit S.1193 and H.R.1142

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Create permanent legislation for the NMTC and LIHTC - or a long term extenders package . NMTC Program and Legislation: Senate bill S. 591 and House of Representatives bill H.R. 855, The New Markets Tax Credit Extension Act of 2015 LIHTC Program and Legislation: Senate bill S. 1193 and House of Representatives Bill H.R. 1142, A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

NMTC Program and Legislation: Senate bill S. 591 and House of Representatives bill H.R. 855, The New Markets Tax Credit Extension Act of 2015 LIHTC Program and Legislation: Senate bill S. 1193 and House of Representatives Bill H.R. 1142, A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program Department of Housing and Urban Development and Appropriations for the HUD Section 108 Loan Guarantee Program Small Business Administration 7(a) Loan Guarantee Program and Legislation: S.1001-The Small Business Lending Reauthorization Act of 2015 Municipal Bonds activity in NDC client communities and legislation including H.R.2229 - Municipal Bond Market Support Act of 2015

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Support continued tax-exempt status for charitable organizations and tax incentives for charitable giving. Support H.R. 1142/S. 1193, to strengthen the low-income housing tax credit. Supported provisions of H.R. 2029, tax extender legislation, that made permanent the 9% rate for the low-income housing tax credit and that made permanent the tax-free rollover of IRA funds to charitable organizations.

Client expense: $16,662 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 765, To amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property. H.R. 855, To amend the Internal Revenue Code of 1986 to permanently extend the new markets tax credit, and for other purposes. H.R. 1001, To amend the Internal Revenue Code of 1986 to terminate certain energy tax subsidies and lower the corporate income tax rate. H.R. 1142, To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. H.R. 3110, National Disaster Tax Relief Act of 2015 S. 394, A bill to amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property. S. 591, New Markets Tax Credit Extension Act of 2015 S. 1193, A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program S. 1795, National Disaster Tax Relief Act

Client expense: $258,541 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Tax Reform Promoted comprehensive approach to tax reform that avoids enacting reform for C corporations at the expense of flow-through entities or otherwise disadvantaging multifamily real estate relative to other asset classes. Support maintaining current law regarding: (1) the tax treatment of carried interest; (2) the full deductibility of business interest; (3) the Low-Income Housing Tax Credit (while also increasing program resources) and tax-exempt private activity housing bonds; (4) the permanent estate tax rules enacted in January 2013; (5) Section 1031 like-kind exchanges; (6) the 27.5-year depreciation period for multifamily buildings; (7) depreciation recapture; and (8) the deductibility of state and local real estate taxes. We oppose proposals increasing taxes on capital gains. Finally, we favor: (1) repealing or reforming FIRPTA rules to incent foreign investment in U.S. real estate; and (2) expanding incentives for energy efficiency in commercial buildings (i.e., Internal Revenue Code Section 179D). Discussion Draft of American Business Competitiveness Act of 2015 (Rep. Devin Nunes), legislation to amend the Internal Revenue Code of 1986 to tax business income on a cash flow basis and for other purposes, all provisions. OECD, Base Erosion and Profit Shifting Project, Limiting Base Erosion Involving Interest Deductions and Other Financial Payments, Action 4 - 2015 Final Report Tax Extenders We supported the permanent extension of Bonus Depreciation, Section 179 Small Business Expensing, the flat 9 Percent Low-Income Housing Tax Credit (with an expansion to provide for a flat 4 percent LITHC for acquisitions), the Energy Efficient Commercial Building Deduction (with an expansion to allow for retrofits of multifamily properties), the New Energy Efficient Home Credit, and the New Markets Tax Credit. P.L. 114-113, H.R. 2029, Consolidated Appropriations Act, 2016, Division Q: Protecting Americans from Tax Hikes Act of 2015. Section 124: Extension and modification of increased expensing limitations and treatment of certain real property as section 179 property, Section 131: Extension of minimum low-income housing tax credit rate for non Federally subsidized buildings, Section 141: Extension of new markets tax credit, Section 143: Extension and modification of bonus depreciation, Section 188: Extension of credit for energy-efficient new homes, Section 190: Extension of energy efficient commercial buildings deduction, Section 311: Restriction on tax-free spinoffs involving REITs, Section 322: Exception from FIRPTA for certain stock of REITs, Section 323: Exception for interests held by foreign retirement or pension funds, Section 341: Updated ASHRAE standards for energy efficient commercial buildings deduction. House Amendment to the Senate Amendment to H.R. 34, Tax Increase Prevention and Real Estate Investment Act of 2015, Section 112: Extension of temporary minimum low-income housing tax credit rate for non-Federally subsidized buildings, Section 115: Extension of New Markets Tax Credit, Section 125: Extension and Modification of Bonus Depreciation, Section 127: Extension and Modification of Increased Expensing Limitations and Treatment of Certain Real Property as Section 179 Property, Section 158: Extension of Credit for Energy-Efficient New Homes, Section 160: Extension of Energy Efficient Commercial Buildings Deductions, Section 201: Restrictions on Tax-Free Spinoffs Involving REITs, Section 213: Exception from FIRPTA for Certain Stock of Real Estate Investment Trusts, Section 214: Exception for Interests Held by Foreign Retirement or Pension Funds, Section 274: Partnership Audit Rules, Section 281: Updated ASHRAE Standards for Energy Efficient Commercial Buildings Deduction. S. 1946, Tax Relief Extension Act of 2015: Section 112: Extension and Modification of Temporary Minimum Low-Income Housing Tax Credit Rate for Non-Federally Subsidized Buildings, Section 115: Extension and Modification of New Markets Tax Credit, Section 125: Extension of Bonus Depreciation, Section 127: Extension and Modification of Increased Expensing Limitations and Treatment of Certain Real Property as Section 179 Property, Section 151: Extension and Modification of Credit for Nonbusiness Energy Property, Section 158: Extension of Credit for Energy-Efficient New Homes, Section 260: Extension and Modification of Energy Efficient Commercial Buildings Deduction. Foreign Investment in Real Property Tax Act (FIRPTA) We support FIRPTA repeal. If this is not feasible, we favor: (1) exempting from the application of FIRPTA gains of foreign pension funds from the disposition of U.S. real property interests; and (2) increasing the amount of U.S. REIT stock minority shareholders can hold without triggering tax. S. 915, Real Estate and Investment Jobs Act of 2015, to amend the Internal Revenue Code of 1986 to exempt certain stock of real estate investment trusts from the tax on foreign investments in United States real property interests, and for other purposes, all provisions. H.R. 2128, Real Estate Investment and Jobs Act of 2015, to amend the Internal Revenue Code of 1986 to exempt certain stock of real estate investment trusts from the tax on foreign investments in United States real property interests, and for other purposes, all provisions. Low-Income Housing Tax Credit (LIHTC) H.R. 1142, to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program, all provisions. S. 1193, a bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program, all provisions Draft legislation to amend the Internal Revenue Code of 1986 to allow the conversion of private activity bond volume cap into State housing credit ceiling for allocation under the low-income housing tax credit, all provisions. Obama Administration's Fiscal Year 2016 Budget Revenue Proposal to Reform and Expand the Low-Income Housing Tax Credit (LIHTC), allow conversion of private activity bond volume cap into LIHTCs and encourage mixed income occupancy by allowing LIHTC-supported projects to elect a criterion employing a restriction on average income. Carried Interest H.R. 2889, Carried Interest Fairness Act of 2015, to amend the Internal Revenue Code of 1986to provide for the proper tax treatment of personal service income earned in pass-thru entities, all provisions. S. 1686, Carried Interest Fairness Act of 2015, to amend the Internal Revenue Code of 1986 to provide for the proper tax treatment of personal service income earned in pass-thru entities, all provisions. S. Amdt. 2887 to H.R. 3762, to provide for reconciliation pursuant to section 2002 of the concurrent resolution on the budget for fiscal year 2016, Special Rules for Partners Providing Investment Management Services to Partnerships. Obama Administration's Fiscal Year 2016 Budget Revenue Proposal to Tax Carried Interests as Ordinary Income Partnership Audits P.L. 114-74, H.R. 1314, Bipartisan Budget Act of 2015, Section 1101, partnership audits and adjustments. H.R. 2821, Partnership Audit Simplification Act of 2015, to amend the Internal Revenue Code to reform partnership audit rules, all provisions. Housing Affordability Housing Affordability tax incentives (including workforce housing tax credit possibilities and preservation possibilities)

Proposals impacting the low-income housing credit, including H.R. 1142 and S. 1193; to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. S.1946, Tax Relief Extension Act. H.R. 2029, Consolidated Appropriations Act. H.R. 3110/S. 1795, National Disaster Tax Relief Act.

Client expense: Not reported · Firm income: $40,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R.1142, To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. Support. S.1193, A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. Support.

Client expense: Not reported · Firm income: $6,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

P.L. 114-113 (H.R. 2029): Consolidated Appropriations Act, 2016. Omnibus bill providing appropriations for the remainder of FY 2016; provisions under Division L, Transportation, Housing and Urban Development, and Related Agencies Appropriations Act, 2016: Title II - Department of Housing and Urban Development, Division A, Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2016: Title III - Rural Development Programs, and Division Q, Protecting Americans from Tax Hikes Act, 2016: Part IV - Incentives for Real Estate Investment, Section 131 Extension of minimum low-income housing tax credit rate for non-Federally subsidized buildings. Internal Revenue Service Memo [UIL 42.07.04]: Low-income Housing Credit (LIHC) - Noncompliance Resulting from Conflicting Program Requirements; all provisions Revenue Ruling 2015-15 Appropriate Percentages Under Section 42(b)(1) for July 2015. S. 1139: Improving the Low-Income Housing Tax Credit Rate Act. A bill to amend the Internal Revenue Code of 1986 to make permanent the minimum low-income housing tax credit rate for unsubsidized buildings and to provide a minimum 4 percent credit rate for existing buildings; all provisions. H.R.1142: To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program; all provisions. S.2260: Expiring Provisions Improvement, Reform, and Efficiency (EXPIRE) Act of 2014. TITLE I, Subtitle B, Sec. 112-Extension and modification of temporary minimum low-income housing tax credit rate for non-federally subsidized buildings; all provisions. H.R. 5771: Tax Increase Prevention Act of 2014. Division A Title 1 Sec. 112. Extension of temporary minimum low-income housing tax credit rate for non-federally subsidized buildings; all provisions. HUD Memorandum, "Occupancy Protections for HUD-Assisted Households in Properties with Low-Income Housing Tax Credits" January 12, 2015; all provisions Department of Treasury Notice 2015-27, "Public Comment Invited on Recommendations for 2015-2016 Priority Guidance Plan" Submitted recommendations for tax reform in the United States to the Senate Finance Committee; provisions related to the low-income housing tax credit.

Public Law (P.L.) 114-94 (H.R. 22): Fixing Americas Surface Transportation (FAST) Act. Housing provisions included in House Amendment 827. P.L. 114-74 (H.R. 1314): the Bipartisan Budget Act of 2015. A two-year budget deal that suspended the federal borrowing cap until March 16, 2017; all provisions. P.L. 114-96 (H.R. 2250): Further Continuing Appropriations Act, 2015. This bill provided an additional temporary extension for fiscal year (FY) 2016 funding at the same funding level as FY 2015 with an expiration date of December 16, 2015; all provisions P.L. 114-113 (H.R. 2029): Consolidated Appropriations Act, 2016. Omnibus bill providing appropriations for the remainder of FY 2016; provisions under Division L, Transportation, Housing and Urban Development, and Related Agencies Appropriations Act, 2016: Title II - Department of Housing and Urban Development, Division A, Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act, 2016: Title III - Rural Development Programs, and Division Q, Protecting Americans from Tax Hikes Act, 2016: Part IV - Incentives for Real Estate Investment, Section 131 Extension of minimum low-income housing tax credit rate for non-Federally subsidized buildings. P.L. 114-53 (H.R. 719): Continuing appropriations Act, 2016. This bill is a temporary continuing resolution (CR) which funded the federal government for fiscal year (FY) 2016 at the same funding as FY 2015 until December 11, 2015; provisions related to (Sec. 117): Provides USDA with funding flexibility to pay ongoing debt service for multi-family direct loan program rental assistance contracts under sections 514 and 515 of the Housing Act of 1949. Permits the renewal during the duration of the CR of rental assistance contracts entered into or renewed in 2015 that exhausted funds within the 12-month contract period. P.L. 113-235 (H.R. 83): the Consolidated and Further Continuing Appropriations Act, 2014; all provisions relating to funding for federal affordable housing programs in FY 2015. H.R. 3700: Housing Opportunity through Modernization Act of 2015. This bill incorporates different housing reform bills introduced in the 114th Congress: The Preservation Enhancement and Savings Opportunity Act of 2015 (H.R. 2482), The Private Investment in Housing Act (H.R. 2997). It includes a drafted bill from the 113th Congress which has not been formally introduced, the Affordable Housing and Self-Sufficiency Improvement Act of 2012 (AHSSIA); all provisions H.R. 3697: The Section 3 Modernization and Improvement Act of 2015. This bill aims to increase enforcement and Congressional oversight of Section 3 properties; all provisions H.R. 2482: Preservation Enhancement and Savings Opportunity Act of 2015. This bill amends and eliminates certain owner limitations under the Low-Income Housing Preservation and Resident Homeownership Act of 1990 (LIHPRHA). H.R. 2997: Private Investment in Housing Act, 2015. This bill would allow HUD to establish a demonstration program under which, in FY 2016 through FY 2019, HUD may execute budget-neutral, performance-based agreements (for up to 12 years each) that result in a reduction in energy or water costs; all provisions H.R. 1047: Housing Assistance Efficiency Act of 2015. This bill would amend the McKinney-Vento Homeless Assistance Act to allow a private nonprofit organization to administer permanent housing rental assistance provided through the Continuum of Care Program; all provisions H.R. 233: The Tenant Income Verification Relief Act of 2015. This bill would allow income reviews for fixed-income families to be completed every three years rather than the current annual inspection used to determine assisted housing program eligibility; all provisions S. 2012: Energy Policy Modernization Act of 2015. This bill would create a demonstration program under which the Secretary of HUD may enter into agreements with multifamily property owners that result in a reduction in energy or water costs; all provisions S. 1412: Housing for Homeless Students Act of 2015. A bill to qualify homeless youth and veterans who are full-time students for purposes of the low income housing tax credit; all provisions S.1139: Improving the Low Income Housing Tax Credit Rate Act of 2015. This bill would make permanent a 9 percent minimum rate for new housing projects and a 4 percent rate for acquiring existing housing for rehabilitation; all provisions S.1909: Local Zoning Decisions Protection Act, 2015. A bill which would prevent any federal funding for implementing HUDs final rule Affirmatively Furthering Fair Housing; all provisions H.R. 1142: To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit. This bill would make permanent a 9 percent minimum rate for new housing projects and 4 percent rate for acquiring existing housing for rehabilitation; all provisions H.R. 1995: the Local Zoning and Property Rights Protection Act of 2015. This bill would prohibit HUD from implementing its proposed rule entitled Affirmatively Furthering Fair Housing; all provisions Security and Exchange Commission Notice [Release No. 34-76148; File No. SR-FINRA-2015-036]: "Self-Regulatory Organizations; Financial Industry RegulatoryAuthority, Inc.; Notice of Filing of a Proposed Rule Change To Amend FINRA Rule 4210 (Margin Requirements) To Establish Margin Requirements for the TBA Market" October 14, 2015; all provisions relating to the coverage of multifamily agency forward-settling transactions in the multifamily financing market. HUD Notice [Docket No. FR-5173-N-07]: "Affirmatively Furthering Fair Housing Assessment Tool: Announcement of Final Approved Document" December 31, 2015; all provisions which impact multifamily housing properties and the Assessment of Fair Housing (AFH) practices. HUD Notice of Final Fiscal Year (FY) 2016 Fair Market Rents (FMRs) [Docket No. FR-5885-N-02]: "Final Fair Market Rents for the Housing Choice Voucher Program and Moderate Rehabilitation Single Room Occupancy Program and Other Programs Fiscal Year 2016" December 11, 2015; all provisions HUD Proposed Rule [Docket No. FR-5248-P-01] RIN 2529-AA94: "Quid Pro Quo and Hostile Environment Harassment and Liability for Discriminatory Housing Practices Under the Fair Housing Act" October 21, 2015; all provisions HUD Notice H 2015-10: "Guidance for Public Housing Agencies (PHAs) and Owners of Federally-Assisted Housing on Excluding the Use of Arrest Records in Housing Decisions" November 2, 2015; all provisions HUD Notice PIH 2015-19: "Guidance for Public Housing Agencies (PHAs) and Owners of Federally-Assisted Housing on Excluding the Use of Arrest Records in Housing Decisions" November 2, 2015; all provisions HUD Guide: Rental Assistance Demonstration (RAD), Quick Reference Guide to Multifamily Housing Requirements, October 2015; all provisions HUD Notice [Docket No. FR-5883-N-01]: "Notice of Certain Operating Cost Adjustment Factors for 2016" October 13, 2015; all provisions impacting project based assistance contracts for eligible multifamily housing projects. President Obama Executive Order 13690: The Federal Flood Risk Management Standard for federal agencies; all provisions which impact multifamily housing properties financed through the Federal Housing Administration (FHA) HUD Advanced Notice of Proposed Rulemaking [Docket No. FR-5855-A-01]: Establishing a More Effective Fair Market Rent (FMR) System; Using Small Area Fair Market Rents (SAFMRs) in Housing Choice Voucher Program Instead of the Current 50th Percentile FMRs; all provisions HUD Final Notice [Docket No. FR-5728-N-02]: Federal Housing Administration (FHA): Small Building Risk Sharing Initiative; all provisions HUD Notice [Docket No. FR-5173-N-05]: Affirmatively Furthering Fair Housing Assessment Tool: Solicitation of Comment-30-Day Notice Under Paperwork Reduction Act of 1995; all provisions HUD Final Rule: Affirmatively Furthering Fair Housing [Docket No. FR-5173-F-04] RIN 2501-AD33; all provisions HUD Transmittal issued 8/7/15: Section 8 Renewal Policy Guidebook; all sections HUD Initiative "Transforming Multifamily for the 21st Century"; all provisions. HUD Draft FHA Multifamily Accelerated Processing (MAP) Guide; all provisions relating to federally assisted multifamily housing in chapters 1.5, 3, 3.6.C, 3.7.V, 3.8, 5, 5.2, 5.3, 5.10.L.5, 7.1, 7.8, 14.7, 18.3. HUD Notice H 2015-04, "Methodology for Completing a Multifamily Housing Utility Analysis" June 22, 2015; all provisions. HUD Memorandum: "Age Restrictions in FHA Insured Housing"; all provisions. HUD Memorandum: Clarification of Policy Surrounding Interest Rate Reductions April 20, 205; all provisions. HUD Notice PIH 2012-32 (HA), REV-2, Rental Assistance Demonstration - Final Implementation, Revision 2 June 15, 2015; all provisions. HUD Notice, "Affirmatively Furthering Fair Housing: Re-Opening Public Comment Period on Subject of Later First AFH Submission Date for Certain Entities" [Docket No. FR-5173-N-03] January 15, 2015; all provisions. HUD Notice, "Streamlining Administrative Regulations for Public Housing, Housing Choice Voucher, Multifamily Housing, and Community Planning and Development Programs" [Docket No. FR 5743-P-01] January 6, 2015; all provisions with emphasis on vacancy payments. HUD Proposed Rule, "Supportive Housing and Services for the Elderly and Persons With Disabilities: Implementing Statutory Reforms-Reopening of Public Comment" [Docket No. FR-5576-N-02], Dec 11, 2014; all provisions. HUD Notice, "Applicability of Davis-Bacon Labor Requirements to Projects Selected as Existing Housing Under the Section 8 Project-Based Voucher Program- Guidance" [Docket No. FR-5242-N-03] March 9, 2015; all provisions. HUD Memorandum, "Use of Marijuana in Multifamily Assisted Properties" December 29, 2014; all provisions. HUD Memorandum, "Occupancy Protections for HUD-Assisted Households in Properties with Low-Income Housing Tax Credits" January 12, 2015; all provisions. HUD Notice, "Streamlining Management and Occupancy Reviews for Section 8 Housing Assistance Programs and Amending Vacancy Payments for Section 8 and Section 162 Housing Assistance Programs" [Docket No. FR-5654-P-01] January 14, 2015; all provisions. HUD Notice, "Section 8 Housing Assistance Programs Proposed Management and Occupancy Review Schedule" [Docket No. FR-5654-N-02] January 14, 2015; all provisions. HUD Notice, "HUD Approval of Requests for Transfers of Multifamily Housing Project-Based Rental Assistance, HUD Held or Insured Debt, and Income-Based Use Restrictions" [Docket No. FR-5779-N-01] March 31, 2015; all provisions. HUD Notice, "Section 8 Housing Assistance Payments Program-Annual Adjustment Factors, Fiscal Year 2015" [Docket No. FR-5844-N-01] February 9, 2015; all provisions. HUD Notice, "Enforcement of Davis-Bacon Act wage requirements for projects participating in the second component of the Rental Assistance Demonstration program" December 23, 2015; all provisions. HUD Notice, "Violence Against Women Reauthorization Act of 2013: Implementation in HUD Housing Programs" [Docket No. FR-5720-P-02] March 25, 2015; all provisions of this HUD regulation, with emphasis on language concerning emergency housing transfers for victims of domestic violence claiming protection under VAWA. HUD Notice CPD-15-03, "Interim Policy on Maximum Per-unit Subsidy Limits for the HOME Program" March 17, 2015; all provisions. Final ruling and opinion in the Supreme Court case Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc. Policies relating to affordable housing development in housing finance reform efforts in Congress. All policies relating to Housing Assistance Payments (HAP) Contracts All policies relating to Project Rental Assistance Contracts (PRACs) All policies relating to funding and administration of the Housing Trust Fund. All policies relating to the release and implementation of the Affirmatively Furthering Fair Housing rule from HUD. All policies relating to Performance-Based Contract Administration. All policies relating to the resumption of Management and Occupancy Reviews (MORs). Policies relating to student occupancy requirements in properties assisted through HUD or the Low-Income Housing Tax Credit. Policies relating to Fair Value Accounting in federal estimates of housing programs. Department of Agriculture, Rural Housing Service Notice: Notice of Solicitation of Applications for the Section 533 Housing Preservation Grants for Fiscal Year 2016; all provisions Policies relating to USDA-RHS' Section 521 Rental Assistance; non-payment of rental assistance contracts by agency; submitted draft language to staff of the House Appropriations Subcommittee on Agriculture, Rural Development to reverse language in P.L. 113-235 (H.R. 83), the Consolidated and Further Continuing Appropriations Act, 2014, which bars Section 521 rental assistance contracts from being renewed within their 12-month contract period. Policies relating to management fee adjustments in Rural Development from 2010 to 2016; provisions relating of implementation of Operating Cost Adjustment Factors (OCAF) method. Rural Housing Service Final Rule Reserve Account. This rule amends regulation to change the requirements of the reserve account for direct Multifamily Housing (MFH) loans. [RIN 0575-AC99] June 17, 2015; all provisions. Rural Development Unnumbered Letter, "Management of Loan Payoffs for the Multi-Family Direct Loan Portfolio" January 16, 2015; all provisions. Rural Development Unnumbered Letter, "Guidance for Rural Development to Complete Area Market Rent Studies for the Rural Development Voucher Program" January 16, 2015; all provisions. Rural Development Unnumbered Letter, "Guidance on the Capital Needs Assessment (CNA) Process" March 13, 2015; all provisions. Offered recommendations in response to USDA-RHS' informal request for ideas to implement a performance-based management fee for apartments that receive Rural Rental Assistance. Advocated for policies to address ongoing occupancy issues, including prolonged vacancies, in properties that participate in USDA-RHS's Multifamily Housing programs. Advocated for policies to address improper payments in USDA-RHS's Section 521 Rural Rental Assistance program. All policies related to USDA Rural Development's Improper Payments Information Act (IPIA) audit for the Rental Assistance Program, Multi-Family Integrated System and its findings reviews, and rural housing preservation.

HR 1142 and S. 1193 amending IRC of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing

Client expense: Not reported · Firm income: $30,000

Government targets: HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), SENATE, Treasury, Dept of

HR 1142 and S. 1193 amending IRC of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing

Client expense: Not reported · Firm income: $30,000

Government targets: HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), SENATE, Treasury, Dept of

Tax Reform Promoted comprehensive approach to tax reform that avoids enacting reform for C corporations at the expense of flow-through entities or otherwise disadvantaging multifamily real estate relative to other asset classes. Support maintaining current law regarding: (1) the tax treatment of carried interest; (2) the full deductibility of business interest; (3) the Low-Income Housing Tax Credit (while also increasing program resources) and tax-exempt private activity housing bonds; (4) the permanent estate tax rules enacted in January 2013; (5) Section 1031 like-kind exchanges; (6) the 27.5-year depreciation period for multifamily buildings; (7) depreciation recapture; and (8) the deductibility of state and local real estate taxes. We oppose proposals increasing taxes on capital gains. Finally, we favor: (1) repealing or reforming FIRPTA rules to incent foreign investment in U.S. real estate; and (2) expanding incentives for energy efficiency in commercial buildings (i.e., Internal Revenue Code Section 179D). Obama Administration's Fiscal Year 2016 Budget Revenue Proposal to Modify Like-Kind Exchange Rules for Real Property and Collectibles H.R. 1, Tax Reform Act of 2014 (113th Congress). Section 1001: Simplification of individual income tax rates. Section 1002: Deduction for adjusted net capital gain. Section 1405: Repeal of deduction for taxes not paid or accrued in a trade or business. Section 1502: Determination of net earnings from self employment. Section 3104: Reform of accelerated cost recovery system. Section 3113: Repeal of deduction for energy efficient commercial buildings. Section 3133: Repeal of like-kind exchanges. Section 3139: Depreciation recapture on gain from disposition of certain depreciable realty. Section 3204: Low-income housing tax credit. Section 3217: Repeal of new energy efficient home credit. Section 3431: Termination of private activity bonds. Section 3621: Ordinary income treatment in the case of partnership interest held in connection with performance of services. Senate Committee on Finance Chairman's Staff Discussion Draft to Reform Certain Business Provisions (113th Congress). Section 2: Repeal of Certain Specialized Expensing Provisions (i.e., Section 179D). Section 11: Pooled Asset Cost Recovery System and Depreciation of Real Property. Section 12. Rules Related to Treatment of Gains from Depreciable Property. Section 15. Repeal of Like-Kind Exchanges. Discussion Draft of American Business Competitiveness Act of 2015 (Rep. Devin Nunes), legislation to amend the Internal Revenue Code of 1986 to tax business income on a cash flow basis and for other purposes, all provisions. Tax Extenders We supported the permanent extension of Bonus Depreciation, Section 179 Small Business Expensing, the flat 9 Percent Low-Income Housing Tax Credit (with an expansion to provide for a flat 4 percent LITHC for acquisitions), the Energy Efficient Commercial Building Deduction (with an expansion to allow for retrofits of multifamily properties), the New Energy Efficient Home Credit, and the New Markets Tax Credit. S. 1946, Tax Relief Extension Act of 2015: Section 112: Extension and Modification of Temporary Minimum Low-Income Housing Tax Credit Rate for Non-Federally Subsidized Buildings, Section 115: Extension and Modification of New Markets Tax Credit, Section 125: Extension of Bonus Depreciation, Section 127: Extension and Modification of Increased Expensing Limitations and Treatment of Certain Real Property as Section 179 Property, Section 151: Extension and Modification of Credit for Nonbusiness Energy Property, Section 158: Extension of Credit for Energy-Efficient New Homes, Section 260: Extension and Modification of Energy Efficient Commercial Buildings Deduction. H.R. 636, America's Small Business Tax Relief Act. Section 2: Expensing of Certain Depreciable Assets for Small Business H.R. 2510, to amend the Internal Revenue Code of 1986 to modify and make permanent bonus depreciation, all provisions. Foreign Investment in Real Property Tax Act (FIRPTA) We support FIRPTA repeal. If this is not feasible, we favor: (1) exempting from the application of FIRPTA gains of foreign pension funds from the disposition of U.S. real property interests; and (2) increasing the amount of U.S. REIT stock minority shareholders can hold without triggering tax. S. 915, Real Estate and Investment Jobs Act of 2015, to amend the Internal Revenue Code of 1986 to exempt certain stock of real estate investment trusts from the tax on foreign investments in United States real property interests, and for other purposes, all provisions. H.R. 2128, Real Estate Investment and Jobs Act of 2015, to amend the Internal Revenue Code of 1986 to exempt certain stock of real estate investment trusts from the tax on foreign investments in United States real property interests, and for other purposes, all provisions. Low-Income Housing Tax Credit (LIHTC) H.R. 1142, to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program, all provisions. S. 1193, a bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program, all provisions Government Accountability Office, Low-Income Housing Tax Credit: Joint IRS-HUD Administration Could Help Address Weakness in Oversight (GAO-15-330), proposal to designate HUD as joint administrator (with IRS) of LIHTC program. Obama Administration's Fiscal Year 2016 Budget Revenue Proposal to Reform and Expand the Low-Income Housing Tax Credit (LIHTC), allow conversion of private activity bond volume cap into LIHTCs and encourage mixed income occupancy by allowing LIHTC-supported projects to elect a criterion employing a restriction on average income. HOME Investment Partnerships (HOME) program funding as it relates to the Low Income Housing Tax Credit Program (Requested Congress to restore HOME funding to at least the level of $1.06 billion contained in the Administrations Fiscal Year 2016 budget request). We also favor proposals to expand LIHTC resources, such as those to enable the conversion of private activity bonds into Low-Income Housing Tax Credits and to provide a minimum 4 percent credit rate for Housing Bond-financed properties. Carried Interest H.R. 2889, Carried Interest Fairness Act of 2015, to amend the Internal Revenue Code of 1986to provide for the proper tax treatment of personal service income earned in pass-thru entities, all provisions. S. 1686, Carried Interest Fairness Act of 2015, to amend the Internal Revenue Code of 1986 to provide for the proper tax treatment of personal service income earned in pass-thru entities, all provisions. S. Amdt. 2177 to S. 1177, Subpart 2 -- Carried Interest Fairness, all provisions within subpart. Department of the Treasury, Internal Revenue Service, Notice of Proposed Rulemaking, Disguised Payments for Services (REG-115452-14) Obama Administration's Fiscal Year 2016 Budget Revenue Proposal to Tax Carried Interests as Ordinary Income Partnership Audits H.R. 2821, Partnership Audit Simplification Act of 2015, to amend the Internal Revenue Code to reform partnership audit rules, all provisions.

H.R. 765, To amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property. H.R. 855, To amend the Internal Revenue Code of 1986 to permanently extend the new markets tax credit, and for other purposes. H.R. 1001, To amend the Internal Revenue Code of 1986 to terminate certain energy tax subsidies and lower the corporate income tax rate. H.R. 1142, To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. H.R. 3110, National Disaster Tax Relief Act of 2015 S. 394, A bill to amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property. S. 591, New Markets Tax Credit Extension Act of 2015 S. 1193, A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program S. 1795, National Disaster Tax Relief Act

Client expense: $123,876 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Proposals impacting the low-income housing credit, including H.R. 1142 and S. 1193; to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. S.1946, Tax Relief Extension Act.

Client expense: Not reported · Firm income: $30,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Support continued tax-exempt status for charitable organizations and tax incentives for charitable giving. Support H.R. 1142/S. 1193, to strengthen the low-income housing tax credit.

Client expense: $42,371 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R.1142, To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. Support. S.1193, A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. Support.

Client expense: Not reported · Firm income: $6,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Internal Revenue Service Memo [UIL 42.07.04]: Low-income Housing Credit (LIHC) - Noncompliance Resulting from Conflicting Program Requirements; all provisions Revenue Ruling 2015-15 Appropriate Percentages Under Section 42(b)(1) for July 2015. S. 1139: Improving the Low-Income Housing Tax Credit Rate Act. A bill to amend the Internal Revenue Code of 1986 to make permanent the minimum low-income housing tax credit rate for unsubsidized buildings and to provide a minimum 4 percent credit rate for existing buildings; all provisions. H.R.1142: To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program; all provisions. S.2260: Expiring Provisions Improvement, Reform, and Efficiency (EXPIRE) Act of 2014. TITLE I, Subtitle B, Sec. 112-Extension and modification of temporary minimum low-income housing tax credit rate for non-federally subsidized buildings; all provisions. H.R. 5771: Tax Increase Prevention Act of 2014. Division A Title 1 Sec. 112. Extension of temporary minimum low-income housing tax credit rate for non-federally subsidized buildings; all provisions. HUD Memorandum, "Occupancy Protections for HUD-Assisted Households in Properties with Low-Income Housing Tax Credits" January 12, 2015; all provisions Department of Treasury Notice 2015-27, "Public Comment Invited on Recommendations for 2015-2016 Priority Guidance Plan" Submitted recommendations for tax reform in the United States to the Senate Finance Committee; provisions related to the low-income housing tax credit.

Client expense: $115,000 · Firm income: Not reported

Public Law (PL) No: 114-53 (H.R. 719): Continuing appropriations Act, 2016. This bill is a temporary continuing resolution (CR) which will fund the federal government for fiscal year (FY) 2016 at the same funding as FY 2015 until December 11, 2015; provisions related to (Sec. 117): Provides USDA with funding flexibility to pay ongoing debt service for multi-family direct loan program rental assistance contracts under sections 514 and 515 of the Housing Act of 1949. Permits the renewal during the duration of the CR of rental assistance contracts entered into or renewed in 2015 that exhausted funds within the 12-month contract period. P.L. 113-235 (H.R. 83): the Consolidated and Further Continuing Appropriations Act, 2014; all provisions relating to funding for federal affordable housing programs in FY 2015. H.R. 2997: Private Investment in Housing Act, 2015. This bill would allow HUD to establish a demonstration program under which, in FY 2016 through FY 2019, HUD may execute budget-neutral, performance-based agreements (for up to 12 years each) that result in a reduction in energy or water costs; all provisions H.R. 1047: Housing Assistance Efficiency Act of 2015. This bill would amend the McKinney-Vento Homeless Assistance Act to allow a private nonprofit organization to administer permanent housing rental assistance provided through the Continuum of Care Program; all provisions H.R. 233: The Tenant Income Verification Relief Act of 2015. This bill would allow income reviews for fixed-income families to be completed every three years rather than the current annual inspection used to determine assisted housing program eligibility; all provisions S. 2012: Energy Policy Modernization Act of 2015. This bill would create a demonstration program under which the Secretary of HUD may enter into agreements with multifamily property owners that result in a reduction in energy or water costs; all provisions S. 1412: Housing for Homeless Students Act of 2015. A bill to qualify homeless youth and veterans who are full-time students for purposes of the low income housing tax credit; all provisions S.1139: Improving the Low Income Housing Tax Credit Rate Act of 2015. This bill would make permanent a 9 percent minimum rate for new housing projects and a 4 percent rate for acquiring existing housing for rehabilitation; all provisions S.1909: Local Zoning Decisions Protection Act, 2015. A bill which would prevent any federal funding for implementing HUDs final rule Affirmatively Furthering Fair Housing; all provisions H.R. 1142: To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit. This bill would make permanent a 9 percent minimum rate for new housing projects and 4 percent rate for acquiring existing housing for rehabilitation; all provisions H.R. 1995: the Local Zoning and Property Rights Protection Act of 2015. This bill would prohibit HUD from implementing its proposed rule entitled Affirmatively Furthering Fair Housing; all provisions President Obama Executive Order 13690: The Federal Flood Risk Management Standard for federal agencies; all provisions which impact multifamily housing properties financed through the Federal Housing Administration (FHA) HUD Advanced Notice of Proposed Rulemaking [Docket No. FR-5855-A-01]: Establishing a More Effective Fair Market Rent (FMR) System; Using Small Area Fair Market Rents (SAFMRs) in Housing Choice Voucher Program Instead of the Current 50th Percentile FMRs; all provisions HUD Final Notice [Docket No. FR-5728-N-02]: Federal Housing Administration (FHA): Small Building Risk Sharing Initiative; all provisions HUD Notice [Docket No. FR-5173-N-05]: Affirmatively Furthering Fair Housing Assessment Tool: Solicitation of Comment-30-Day Notice Under Paperwork Reduction Act of 1995; all provisions HUD Final Rule: Affirmatively Furthering Fair Housing [Docket No. FR-5173-F-04] RIN 2501-AD33; all provisions HUD Transmittal issued 8/7/15: Section 8 Renewal Policy Guidebook; all sections HUD Initiative "Transforming Multifamily for the 21st Century"; all provisions. HUD Draft FHA Multifamily Accelerated Processing (MAP) Guide; all provisions relating to federally assisted multifamily housing in chapters 1.5, 3, 3.6.C, 3.7.V, 3.8, 5, 5.2, 5.3, 5.10.L.5, 7.1, 7.8, 14.7, 18.3. HUD Notice H 2015-04, "Methodology for Completing a Multifamily Housing Utility Analysis" June 22, 2015; all provisions. HUD Memorandum: "Age Restrictions in FHA Insured Housing"; all provisions. HUD Memorandum: Clarification of Policy Surrounding Interest Rate Reductions April 20, 205; all provisions. HUD Notice PIH 2012-32 (HA), REV-2, Rental Assistance Demonstration - Final Implementation, Revision 2 June 15, 2015; all provisions. HUD Notice, "Affirmatively Furthering Fair Housing: Re-Opening Public Comment Period on Subject of Later First AFH Submission Date for Certain Entities" [Docket No. FR-5173-N-03] January 15, 2015; all provisions. HUD Notice, "Streamlining Administrative Regulations for Public Housing, Housing Choice Voucher, Multifamily Housing, and Community Planning and Development Programs" [Docket No. FR 5743-P-01] January 6, 2015; all provisions with emphasis on vacancy payments. HUD Proposed Rule, "Supportive Housing and Services for the Elderly and Persons With Disabilities: Implementing Statutory Reforms-Reopening of Public Comment" [Docket No. FR-5576-N-02], Dec 11, 2014; all provisions. HUD Notice, "Applicability of Davis-Bacon Labor Requirements to Projects Selected as Existing Housing Under the Section 8 Project-Based Voucher Program- Guidance" [Docket No. FR-5242-N-03] March 9, 2015; all provisions. HUD Memorandum, "Use of Marijuana in Multifamily Assisted Properties" December 29, 2014; all provisions. HUD Memorandum, "Occupancy Protections for HUD-Assisted Households in Properties with Low-Income Housing Tax Credits" January 12, 2015; all provisions. HUD Notice, "Streamlining Management and Occupancy Reviews for Section 8 Housing Assistance Programs and Amending Vacancy Payments for Section 8 and Section 162 Housing Assistance Programs" [Docket No. FR-5654-P-01] January 14, 2015; all provisions. HUD Notice, "Section 8 Housing Assistance Programs Proposed Management and Occupancy Review Schedule" [Docket No. FR-5654-N-02] January 14, 2015; all provisions. HUD Notice, "HUD Approval of Requests for Transfers of Multifamily Housing Project-Based Rental Assistance, HUD Held or Insured Debt, and Income-Based Use Restrictions" [Docket No. FR-5779-N-01] March 31, 2015; all provisions. HUD Notice, "Section 8 Housing Assistance Payments Program-Annual Adjustment Factors, Fiscal Year 2015" [Docket No. FR-5844-N-01] February 9, 2015; all provisions. HUD Notice, "Enforcement of Davis-Bacon Act wage requirements for projects participating in the second component of the Rental Assistance Demonstration program" December 23, 2015; all provisions. HUD Notice, "Violence Against Women Reauthorization Act of 2013: Implementation in HUD Housing Programs" [Docket No. FR-5720-P-02] March 25, 2015; all provisions of this HUD regulation, with emphasis on language concerning emergency housing transfers for victims of domestic violence claiming protection under VAWA. HUD Notice CPD-15-03, "Interim Policy on Maximum Per-unit Subsidy Limits for the HOME Program" March 17, 2015; all provisions. Final ruling and opinion in the Supreme Court case Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc. Policies relating to affordable housing development in housing finance reform efforts in Congress. All policies relating to Housing Assistance Payments (HAP) Contracts All policies relating to Project Rental Assistance Contracts (PRACs) All policies relating to funding and administration of the Housing Trust Fund. All policies relating to the release and implementation of the Affirmatively Furthering Fair Housing rule from HUD. All policies relating to Performance-Based Contract Administration. All policies relating to the resumption of Management and Occupancy Reviews (MORs). Policies relating to student occupancy requirements in properties assisted through HUD or the Low-Income Housing Tax Credit. Policies relating to Fair Value Accounting in federal estimates of housing programs. Policies relating to USDA-RHS' Section 521 Rental Assistance; non-payment of rental assistance contracts by agency; submitted draft language to staff of the House Appropriations Subcommittee on Agriculture, Rural Development to reverse language in P.L. 113-235 (H.R. 83), the Consolidated and Further Continuing Appropriations Act, 2014, which bars Section 521 rental assistance contracts from being renewed within their 12-month contract period. Policies relating to management fee adjustments in Rural Development from 2010 to 2016; provisions relating of implementation of Operating Cost Adjustment Factors (OCAF) method. Rural Housing Service Final Rule Reserve Account. This rule amends regulation to change the requirements of the reserve account for direct Multifamily Housing (MFH) loans. [RIN 0575-AC99] June 17, 2015; all provisions. Rural Development Unnumbered Letter, "Management of Loan Payoffs for the Multi-Family Direct Loan Portfolio" January 16, 2015; all provisions. Rural Development Unnumbered Letter, "Guidance for Rural Development to Complete Area Market Rent Studies for the Rural Development Voucher Program" January 16, 2015; all provisions. Rural Development Unnumbered Letter, "Guidance on the Capital Needs Assessment (CNA) Process" March 13, 2015; all provisions. Offered recommendations in response to USDA-RHS' informal request for ideas to implement a performance-based management fee for apartments that receive Rural Rental Assistance. Advocated for policies to address ongoing occupancy issues, including prolonged vacancies, in properties that participate in USDA-RHS's Multifamily Housing programs. Advocated for policies to address improper payments in USDA-RHS's Section 521 Rural Rental Assistance program. All policies related to USDA Rural Development's Improper Payments Information Act (IPIA) audit for the Rental Assistance Program, Multi-Family Integrated System and its findings reviews, and rural housing preservation.

Create permanent legislation for the NMTC and LIHTC - or a long term extenders package . NMTC Program and Legislation: Senate bill S. 591 and House of Representatives bill H.R. 855, The New Markets Tax Credit Extension Act of 2015 LIHTC Program and Legislation: Senate bill S. 1193 and House of Representatives Bill H.R. 1142, A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Increasing Budget Authority in FY16 Budget for HUD 108 program and HOME program, Low Income Housing Tax Credit S.1193 and H.R.1142

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

NMTC Program and Legislation: Senate bill S. 591 and House of Representatives bill H.R. 855, The New Markets Tax Credit Extension Act of 2015 LIHTC Program and Legislation: Senate bill S. 1193 and House of Representatives Bill H.R. 1142, A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program Department of Housing and Urban Development and Appropriations for the HUD Section 108 Loan Guarantee Program Small Business Administration 7(a) Loan Guarantee Program and Legislation: S.1001-The Small Business Lending Reauthorization Act of 2015 Municipal Bonds activity in NDC client communities and legislation including H.R.2229 - Municipal Bond Market Support Act of 2015

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Proposals impacting the low-income housing credit, including H.R. 1142 and S. 1193; to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program.

Client expense: Not reported · Firm income: $40,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Tax Reform Promoted comprehensive approach to tax reform that avoids enacting reform for C corporations at the expense of flow-through entities or otherwise disadvantaging multifamily real estate relative to other asset classes. Support maintaining current law regarding: (1) the tax treatment of carried interest; (2) the full deductibility of business interest; (3) the Low-Income Housing Tax Credit (while also increasing program resources) and tax-exempt private activity housing bonds; (4) the permanent estate tax rules enacted in January 2013; (5) Section 1031 like-kind exchanges; (6) the 27.5-year depreciation period for multifamily buildings; (7) depreciation recapture; and (8) the deductibility of state and local real estate taxes. We oppose proposals increasing taxes on capital gains. Finally, we favor: (1) repealing or reforming FIRPTA rules to incent foreign investment in U.S. real estate; and (2) expanding incentives for energy efficiency in commercial buildings (i.e., Internal Revenue Code Section 179D). Obama Administration's Fiscal Year 2016 Budget Revenue Proposal to Modify Like-Kind Exchange Rules for Real Property and Collectibles Obama Administration's Fiscal Year 2016 Budget Revenue Proposal to Reform the Taxation of Capital Income H.R. 1, Tax Reform Act of 2014 (113th Congress). Section 1001: Simplification of individual income tax rates. Section 1002: Deduction for adjusted net capital gain. Section 1405: Repeal of deduction for taxes not paid or accrued in a trade or business. Section 1502: Determination of net earnings from self employment. Section 3104: Reform of accelerated cost recovery system. Section 3113: Repeal of deduction for energy efficient commercial buildings. Section 3133: Repeal of like-kind exchanges. Section 3139: Depreciation recapture on gain from disposition of certain depreciable realty. Section 3204: Low-income housing tax credit. Section 3217: Repeal of new energy efficient home credit. Section 3431: Termination of private activity bonds. Section 3621: Ordinary income treatment in the case of partnership interest held in connection with performance of services. Senate Committee on Finance Chairman's Staff Discussion Draft to Reform Certain Business Provisions (113th Congress). Section 2: Repeal of Certain Specialized Expensing Provisions (i.e., Section 179D). Section 11: Pooled Asset Cost Recovery System and Depreciation of Real Property. Section 12. Rules Related to Treatment of Gains from Depreciable Property. Section 15. Repeal of Like-Kind Exchanges. Tax Extenders We supported the permanent extension of Bonus Depreciation, Section 179 Small Business Expensing, the flat 9 Percent Low-Income Housing Tax Credit (with an expansion to provide for a flat 4 percent LITHC for acquisitions), the Energy Efficient Commercial Building Deduction (with an expansion to allow for retrofits of multifamily properties), the New Energy Efficient Home Credit, and the New Markets Tax Credit H.R. 636, America's Small Business Tax Relief Act. Section 2: Expensing of Certain Depreciable Assets for Small Business S. 1660, A bill to amend the Internal Revenue Code of 1986 to modify and make permanent bonus depreciation, all provisions. Foreign Investment in Real Property Tax Act (FIRPTA) We support FIRPTA repeal. If this is not feasible, we favor: (1) exempting from the application of FIRPTA gains of foreign pension funds from the disposition of U.S. real property interests; and (2) increasing the amount of U.S. REIT stock minority shareholders can hold without triggering tax. S. 915, Real Estate and Investment Jobs Act of 2015, to amend the Internal Revenue Code of 1986 to exempt certain stock of real estate investment trusts from the tax on foreign investments in United States real property interests, and for other purposes, all provisions. H.R. 2128, Real Estate Investment and Jobs Act of 2015, to amend the Internal Revenue Code of 1986 to exempt certain stock of real estate investment trusts from the tax on foreign investments in United States real property interests, and for other purposes, all provisions. Obama Administration's Fiscal Year 2016 Budget Revenue Proposal to Exempt Foreign Pension Funds from the Application of the Foreign Investment in Real Property Tax Act (FIRPTA) Low-Income Housing Tax Credit (LIHTC) H.R. 1142, To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program, all provisions. S. 1193, a bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program, all provisions Draft legislation to amend the Internal Revenue Code of 1986 to allow the conversion of private activity bond volume cap into State housing credit ceiling for allocation under the low-income housing tax credit, all provisions. Obama Administration's Fiscal Year 2016 Budget Revenue Proposal to Reform and Expand the Low-Income Housing Tax Credit (LIHTC), allow conversion of private activity bond volume cap into LIHTCs and encourage mixed income occupancy by allowing LIHTC-supported projects to elect a criterion employing a restriction on average income. We also favor proposals to expand LIHTC resources, such those to enable the conversion of private activity bonds into Low-Income Housing Tax Credits and to provide a minimum 4 percent credit rate for Housing Bond-financed properties. Energy Tax Incentives S. 2189, the Energy Efficiency Tax Incentives Act (113th Congress). Section 101: Extension and modification of deduction for energy-efficient commercial buildings. Section 102. Deduction for retrofits of existing commercial and multifamily buildings. Estate Tax H.R. 1105, Death Tax Repeal Act of 2015, Section 2. Repeal of Estate and Generation-Skipping Transfer Taxes. Carried Interest H.R. 2889, Carried Interest Fairness Act of 2015, to amend the Internal Revenue Code of 1986to provide for the proper tax treatment of personal service income earned in pass-thru entities, all provisions. S. 1686, Carried Interest Fairness Act of 2015, to amend the Internal Revenue Code of 1986to provide for the proper tax treatment of personal service income earned in pass-thru entities, all provisions. Obama Administration's Fiscal Year 2016 Budget Revenue Proposal to Tax Carried Interests as Ordinary Income Fire Sprinklers H.R. 5622 (113th Congress), Fire Sprinkler Incentive Act, to amend the Internal Revenue Code of 1986 to include automated fire sprinkler system retrofits as section 179 property and classify certain automated fire sprinkler system retrofits as 15-year property for purposes of depreciation, all provisions. S. 1163 (113th Congress), Fire Sprinkler Incentive Act, to amend the Internal Revenue Code of 1986 to include automated fire sprinkler system retrofits as section 179 property and classify certain automated fire sprinkler system retrofits as 15-year property for purposes of depreciation, all provisions.

H.R. 765, To amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property H.R. 855, To amend the Internal Revenue Code of 1986 to permanently extend the new markets tax credit, and for other purposes H.R. 1001, To amend the Internal Revenue Code of 1986 to terminate certain energy tax subsidies and lower the corporate income tax rate H.R. 1142, To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program S. 394, A bill to amend the Internal Revenue Code of 1986 to permanently extend the 15-year recovery period for qualified leasehold improvement property, qualified restaurant property, and qualified retail improvement property S. 591, New Markets Tax Credit Extension Act of 2015

Client expense: $74,930 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Support continued tax-exempt status for charitable organizations and tax incentives for charitable giving. Support H.R. 1142/S. 1193, to strengthen the low-income housing tax credit.

Client expense: $80,008 · Firm income: Not reported

Government targets: Administration for Children & Families (ACF), HOUSE OF REPRESENTATIVES, SENATE

H.R.1142, To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. Support. S.1193, A bill to amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit program. Support

Client expense: Not reported · Firm income: $6,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R. 233: The Tenant Income Verification Relief Act of 2015. This bill would allow income reviews for fixed-income families to be completed every three years rather than the current annual inspection used to determine assisted housing program eligibility; all provisions S. 1412: Housing for Homeless Students Act of 2015. A bill to qualify homeless youth and veterans who are full-time students for purposes of the low income housing tax credit; all provisions S.1139: Improving the Low Income Housing Tax Credit Rate Act of 2015. This bill would make permanent a 9 percent minimum rate for new housing projects and a 4 percent rate for acquiring existing housing for rehabilitation; all provisions H.R. 1142: To amend the Internal Revenue Code of 1986 to make permanent and expand the temporary minimum credit rate for the low-income housing tax credit. This bill would make permanent a 9 percent minimum rate for new housing projects and 4 percent rate for acquiring existing housing for rehabilitation; all provisions H.R. 1995: the Local Zoning and Property Rights Protection Act of 2015. This bill would prohibit HUD from implementing its proposed rule entitled Affirmatively Furthering Fair Housing; all provisions HUD Initiative "Transforming Multifamily for the 21st Century"; all provisions. HUD Draft FHA Multifamily Accelerated Processing (MAP) Guide; all provisions relating to federally assisted multifamily housing in chapters 1.5, 3, 3.6.C, 3.7.V, 3.8, 5, 5.2, 5.3, 5.10.L.5, 7.1, 7.8, 14.7, 18.3. HUD Notice H 2015-04, "Methodology for Completing a Multifamily Housing Utility Analysis" June 22, 2015; all provisions. HUD Memorandum, Clarification of Policy Surrounding Interest Rate Reductions April 20, 205; all provisions. HUD Notice PIH 2012-32 (HA), REV-2, Rental Assistance Demonstration - Final Implementation, Revision 2 June 15, 2015; all provisions. HUD Notice, "Affirmatively Furthering Fair Housing: Re-Opening Public Comment Period on Subject of Later First AFH Submission Date for Certain Entities" [Docket No. FR-5173-N-03] January 15, 2015; all provisions. HUD Notice, "Streamlining Administrative Regulations for Public Housing, Housing Choice Voucher, Multifamily Housing, and Community Planning and Development Programs" [Docket No. FR 5743-P-01] January 6, 2015; all provisions. HUD Notice PIH 2015-03, "Implementation of the Federal Fiscal Year (FFY) 2015 Funding Provisions for the Housing Choice Voucher Program" February 27, 2015; all provisions HUD Proposed Rule, "Supportive Housing and Services for the Elderly and Persons With Disabilities: Implementing Statutory Reforms-Reopening of Public Comment" [Docket No. FR-5576-N-02], Dec 11, 2014; all provisions. HUD Notice, "Applicability of Davis-Bacon Labor Requirements to Projects Selected as Existing Housing Under the Section 8 Project-Based Voucher Program- Guidance" [Docket No. FR-5242-N-03] March 9, 2015; all provisions. HUD Memorandum, "Use of Marijuana in Multifamily Assisted Properties" December 29, 2014; all provisions. HUD Memorandum, "Occupancy Protections for HUD-Assisted Households in Properties with Low-Income Housing Tax Credits" January 12, 2015; all provisions. HUD Notice, "Streamlining Management and Occupancy Reviews for Section 8 Housing Assistance Programs and Amending Vacancy Payments for Section 8 and Section 162 Housing Assistance Programs" [Docket No. FR-5654-P-01] January 14, 2015; all provisions. HUD Notice, "Section 8 Housing Assistance Programs Proposed Management and Occupancy Review Schedule" [Docket No. FR-5654-N-02] January 14, 2015; all provisions. HUD Notice, "HUD Approval of Requests for Transfers of Multifamily Housing Project-Based Rental Assistance, HUD Held or Insured Debt, and Income-Based Use Restrictions" [Docket No. FR-5779-N-01] March 31, 2015; all provisions. HUD Memorandum, "Affordable Housing Clarifications" Multifamily housing financing clarifications and policy updates January 30, 2015; all provisions. HUD Notice, "Section 8 Housing Assistance Payments Program-Annual Adjustment Factors, Fiscal Year 2015" [Docket No. FR-5844-N-01] February 9, 2015; all provisions. HUD Notice, "Rental Assistance Demonstration (RAD)-Updated Application Review and Commitments To Enter Into Housing Assistance Payment Contracts (CHAPs) Issuance Process for First Component RAD Transactions" [Docket No. FR-5630-N-06] January 29, 2015; all provisions. HUD Notice, "Enforcement of Davis-Bacon Act wage requirements for projects participating in the second component of the Rental Assistance Demonstration program" December 23, 2015; all provisions. HUD Notice, "Notice of Intent To Conduct a Violence Against Women Act (VAWA) and Housing Opportunities for Persons With AIDS (HOPWA) Project Demonstration" [Docket No. FR-5853-N-01] March 13, 2015; all provisions. HUD Notice, "Violence Against Women Reauthorization Act of 2013: Implementation in HUD Housing Programs" [Docket No. FR-5720-P-02] March 25, 2015; all provisions of this HUD regulation, with emphasis on language concerning emergency housing transfers for victims of domestic violence claiming protection under VAWA. HUD Notice CPD-15-03, "Interim Policy on Maximum Per-unit Subsidy Limits for the HOME Program" March 17, 2015; all provisions. Information relating to the Supreme Court case Texas Department of Housing and Community Affairs v. The Inclusive Communities Project, Inc. All policies relating to the release and implementation of the Affirmatively Furthering Fair Housing rule from HUD. All policies relating to Performance-Based Contract Administration. All policies relating to the resumption of Management and Occupancy Reviews (MORs). Policies relating to student occupancy requirements in properties assisted through HUD or the Low-Income Housing Tax Credit. Policies relating to Fair Value Accounting in federal estimates of housing programs. Rural Housing Service Final Rule Reserve Account. This rule amends regulation to change the requirements of the reserve account for direct Multifamily Housing (MFH) loans. [RIN 0575-AC99] June 17, 2015; all provisions. Rural Development Notice HB-2-3650, "Fiscal Year 2015 Per Occupied Unit Per Month State Maximum Management Fee" October 24, 2014; all provisions. Rural Development Unnumbered Letter, "Management of Loan Payoffs for the Multi-Family Direct Loan Portfolio" January 16, 2015; all provisions. Rural Development Unnumbered Letter, "Guidance for Rural Development to Complete Area Market Rent Studies for the Rural Development Voucher Program" January 16, 2015; all provisions. Rural Development Unnumbered Letter, "Fiscal Year 2015 Site Manager and Maintenance Person of the Year Recognition Program" March 13, 2015; all provisions. Rural Development Unnumbered Letter, "Guidance on the Capital Needs Assessment (CNA) Process" March 13, 2015; all provisions. Offered recommendations in response to USDA-RHS' informal request for ideas to implement a performance-based management fee for apartments that receive Rural Rental Assistance. Advocated for policies to address ongoing occupancy issues, including prolonged vacancies, in properties that participate in USDA-RHS's Multifamily Housing programs. Advocated for policies to address improper payments in USDA-RHS's Section 521 Rural Rental Assistance program. All policies related to USDA Rural Development's Improper Payments Information Act (IPIA) audit for the Rental Assistance Program, Multi-Family Integrated System and its findings reviews, and rural housing preservation. Rural Development Administrative Notice No.4778 (1944-N), "Implementation of 42 U.S.C. 14043e-11 of the Violence Against Women Reauthorization Act in Rural Developments Multi-Family Housing Programs" January 5, 2015; all provisions in this administrative notice, with emphasis placed on conflicting VAWA regulations between Rural Development and HUD.