Job Creation and Affordable Housing Act of 2010

Budget of the United States Government, Fiscal Year 2011; all provisions relating to the U.S. Department of Housing and Urban Development (HUD) and U.S. Department of Agriculture-Rural Housing Service (RHS) funding and administration of affordable multifamily housing and rental assistance programs and Treasury-Internal Revenue Service proposals related to the Low Income Housing Tax Credit and bond-financed multifamily housing programs. (continued) HR 5850-Transportation, Housing and Urban Development, and Related Agencies Appropriations Act, 2011: A bill making appropriations for the Departments of Transportation, HUD and Related Agencies for the fiscal year ending September 30, 2011, and for other purposes; Title II Housing and Urban Development; - all funding & administrative provisions related to affordable housing programs, with particular emphasis on full funding of 12 month terms of project-based Section 8 contracts and fair housing activities to create translations and programs to assist persons with limited English proficiency (LEP). Requested amendments [to H.R. 5850, Title II] to include Sections 101 & 102(b) of H.R. 4868 to provide a conversion mechanism for Rent Supp and RAP properties to a Project-Based Section 8 contract and subsidies [not included]; S 3644- Transportation, Housing and Urban Development, and Related Agencies Appropriations Act, 2011: A bill making appropriations for the Departments of Transportation, and Housing and Urban Development, and related agencies for the fiscal year ending September 30, 2011, and for other purposes; Title II Housing and Urban Development - all funding & administrative provisions related to affordable housing programs, with particular emphasis on full funding of 12 month terms of project-based Section 8 contracts and fair housing activities to create translations and programs to assist persons with limited English proficiency (LEP). Requested amendments [to S. 3644, Title II] to include Section 101 & 102(b) of H.R. 4868 to provide a conversion mechanism for Rent Supp and RAP properties to a Project-Based Section 8 contract and subsidies [not included]. S 3606-Agriculture, Rural Development, Food and Drug Administration and Related Agencies Appropriations Act, 2010: A bill providing USDA, FDA and other agencies with appropriations for FY 2011; Title III Rural Development programs, all funding and administrative provisions related to affordable rural housing programs. H.R. 3081 Continuing Appropriations Act, 2011: A bill making continuing appropriations for fiscal year 2011, and for other purposes; all provisions which affect funding and administration of federal multifamily housing programs in Sections 101, 103, 106 and 110. Also requested language in H.R. 3081directing HUD to obligate funds to renew or amend, in a timely manner, all project-based Section 8, Section 202, and Section 811 rental assistance contracts & specifically allowing payments to be made beyond the CR end date [not included]. HR 4868-The Housing Preservation and Tenant Protection Act of 2010: A bill to help preserve federally financed and state-financed affordable housing at risk of conversion to market-rate housing, restore housing at risk of loss due to deterioration, protect residents of affordable housing; preserve troubled projects facing foreclosure, maintain housing affordability, create an affordable housing database, and reform the section 202 and rural housing programs; all provisions. S 118-Section 202 Supportive Housing for the Elderly Act of 2009: A bill to amend section 202 of the Housing Act of 1959 to improve the program under such section for supportive housing for the elderly, and for other purposes; all provisions. HR 2876- Rural Housing Preservation Act of 2009: A bill to establish a program to preserve rural multifamily housing assisted under the Housing Act of 1949; all provisions. HR 1675-Frank Melville Supportive Housing Investment Act of 2009: A bill to amend Section 811 to improve the housing for persons with disabilities program; all provisions. S 1481-Frank Melville Supportive Housing Investment Act of 2009: A bill to amend Section 811 to improve the housing for persons with disabilities program; all provisions. HR 1989- The Section 538 Improvement Act of 2009: a bill to provide for subsidies for interest on loans for rural multifamily housing guaranteed by the Rural Housing Service of the Department of Agriculture; all provisions. S 1676- Affordable Housing Preservation and Revitalization Act of 2009: A bill to allow the use of residual receipts from project-based voucher funded properties with expiring contracts to be transferred to nonprofit agencies that commit to preserving the affordable units; all provisions. Draft Legislation from HUD- Preservation, Enhancement, and Transforming Rental Assistance Act of 2010: The legislation would streamline the rental assistance programs would allow public housing and privately owned RAP, Rent Supp, and old Mod Rehab properties to convert to long-term project-based rental assistance, which includes a resident mobility feature; all provisions [not introduced]. HR 3045-The Section 8 Voucher Reform Act of 2009: A bill to reform the housing choice voucher program under section 8 of the United States Housing Act of 1937; all provisions. Requested amendment [to HR 3045] to allow the Department of Housing and Urban Development to Better Serve Persons with Limited Proficiency in the English Language by Providing Technical Assistance to Recipients of Federal Funds (owners of HUD-subsidized properties are recipents of federal funds) [not included]. Requested free standing legislation, A bill to allow the Department of Housing and Urban Development to Better Serve Persons with Limited Proficiency in the English Language by Providing Technical Assistance to Recipients of Federal Funds (owners of HUD-subsidized properties are recipents of federal funds) [not introduced during reporting period]. U.S. Department of Housing and Urban Development [Docket No. FR4878N02], Final Guidance to Federal Financial Assistance Recipients Regarding Title VI Prohibition Against National Origin Discrimination Affecting Limited English Proficient Persons, Jan. 22, 2007; all provisions. (Owners of HUD-subsidized properties are recipents of federal funds.) HR 5072-FHA Reform Act of 2010: A bill to improve the financial safety and soundness of the FHA mortgage insurance program; Sec. 19 Maximum Mortgage Amount Limits for Multifamily Housing, all provisions related to multifamily housing projects with elevators and extremely high-cost areas. S 3700- A bill to increase the maximum mortgage amount limitations under the Federal Housing Administration mortgage insurance programs for multi-family housing projects with elevators and for extremely high-cost areas; all provisions. HR 3527-The FHA Multifamily Loan Limit Adjustment Act of 2009: A bill increasing the maximum mortgage amount limitations under the FHA mortgage insurance programs for multifamily housing projects with elevators and for extremely high-cost areas; all provisions. HR 2887-Affordable Housing Preservation Tax Relief Act of 2009: A bill to amend the Internal Revenue Code of 1986 to provide an incentive to preserve affordable housing in multifamily housing units which are sold or exchanged; all provisions. HR 4109-Low Income Housing Tax Credit Act of 2009:A bill to amend the Internal Revenue Code to allow the low-income housing credit to be carried back 5 years; all provisions. S 3141-Low Income Housing Tax Credit Recovery Act of 2010: A bill to provide a five-year carry-back for current and future low-income housing tax credit investments and allow LIHTCs to offset 100 percent of federal tax liability; all provisions. HR 2995-The Disaster State Housing Recovery Act of 2009: To amend the American Recovery and Reinvestment Tax Act of 2009 to clarify the low-income housing credits that are eligible for the low-income housing grant election; all provisions. S 1326-The Disaster State Housing Recovery Act of 2009: To amend the American Recovery and Reinvestment Tax Act of 2009 to clarify the low-income housing credits that are eligible for the low-income housing grant election; all provisions. HR 4173- Dodd-Frank Wall Street Reform and Consumer Protection Act: A bill to provide financial regulatory reform, protect consumers and investors, enhance Federal understanding of insurance issues, and regulate the over-the-counter derivatives markets; Title XIV Subtitle G, all provisions in Sec. 1481 about the Multifamily Mortgage Resolution Program and in Sec. 1484 about Protecting tenants at foreclosure extension and clarification. S 3793-Job Creation and Tax Cuts Act of 2010. The bill would extend a number of expiring tax provisions; Title II Subtitle B Part II Low-Income Housing Credits, all sections; Title II Subtitle D Part II Subpart b, all provisions of Section 297 Extension of low-income housing credit rules for buildings in GO zones; Title IV, Subtitle A Personal Service Income Earned in Pass-thru Entities, all provisions which affect taxation of managing general partners [affordable multifamily properties are often owned by partnerships]; & Title VI Subtitle A all provisions of Sec. 603 Housing Trust Fund. Requested amendments [to S. 3793] to extend the LIHTC cash exchange program to 4% credits generated from bonds, to provide a 5-year carry-back for the low-income housing tax credit & to change passive loss laws to include certain S Corporations, limited liability companies, & closely-held C Corporations as LIHTC investors. [none included]. HR 4766 - Permanently Protecting Tenants at Foreclosure Act of 2010: a bill to permanently extend the Protecting Tenants at Foreclosure Act of 2009 (which allows renters to continue occupying foreclosed properties for a period of time and creates additional protections for tenants receiving Section 8 assistance); all provisions. HR 4106-Green Affordable Housing Act of 2009: The legislation would authorize HUD to create a program to make grants and loans to owners of eligible federally assisted housing projects for making eligible green retrofit improvements to their properties as long as those owners agree to an affordability extension, as determined by HUD, for the building; all provisions. HR 5872- General and Special Risk Insurance Funds Availability Act. The act authorizes an additional $5 billion of commitment authority for FHA to insure mortgages under the General Insurance/Special Risk Insurance (GI/SRI) Fund for multifamily rental and health care facilities; all provisions. HR 4213- American Jobs and Closing Tax Loopholes Act of 2010 (as passed by the House 5/28/10):A bill to extend several expiring tax provisions; all provisions related to affordable multifamily housing in: Title II Sec. 231 Election for Direct Payment of Low-Income Housing Credit for 2010 [not included in final bill]; Title II Section 297 Extension of Low-Income Housing Credit Rules for Buildings in GO Zones [not included in final bill]; Title VI Sec. 412. Income of Partners for Performing Investment Management Services Treated as Ordinary Income Received for Performance of Services (affects ownership structures of some multifamily properties) [not included in final bill]; Title VI Sec. 606 Housing Trust Fund [not included in final bill]. Requested that the Senate add amendments [to H.R.4213] to extend the LIHTC cash exchange program to 4% credits generated from bonds and GO Zone Credits, to provide a 5-year carry-back for the low-income housing tax credit & to change passive loss laws to include certain S Corporations, limited liability companies, & closely-held C Corporations as LIHTC investors. [none included]. HR 3929- A bill to provide an extension of the low-income housing credit placed-in-service date requirement for certain disaster areas; all provisions. S. 1761-A bill to provide an extension of the low-income housing credit placed-in-service date requirement for certain disaster areas; all provisions. HR 4687-Low Income Housing Tax Credit Exchange Expansion and Job Creation Act of 2010: A bill to provide grants to States for low-income housing projects in lieu of low-income housing credits; all provisions. S 3326- Job Creation and Affordable Housing Act of 2010: A bill to provide grants to States for low-income housing projects in lieu of low-income housing credits, and to amend the Internal Revenue Code of 1986 to allow a 5-year carryback of the low-income housing credit; all provisions. HR 5297-Small Business Jobs and Credit Act of 2010; Title IV Subtitle A--Small Business Lending Fund, all provisions which provide captial in community banks and qualifying Community Development Financial Institutions (CDFIs) that make loans to small businesses. [In hopes the capital investment would permit these institutions to help meet the pent-up loan demand for construction and permanent financing of affordable rental housing.] HUD Handbook 4381.5, REV-2, Change-3 The Management Agent Handbook Chapter 6, Section 6.38 Management Costs Charged to the Projects Operating Account, all provisions in paragraph (e) related to requirements for Retirement Accounts for Front-Line Staff. HUD Handbook 4350.1 REV-1CHG-2 "Multifamily Asset Management and Project Servicing," Chapter 6: Conducting Management Reviews; all provisions. U.S. Department of Housing and Urban Development "Annual Contributions Contracts, Project-based Section 8 Contract Administration," May 14, 2010; all provisions. U.S. Department of Housing and Urban Development [Docket No. FR5351F02], "Refinement of Income and Rent Determination Requirements in Public and Assisted Housing Programs: Implementation of the Enterprise Income Verification SystemAmendments; Final Rule," December 29, 2009; all provisions. U.S. Department of Housing and Urban Development, Notice H 09-20, "Enterprise Income Verification (EIV) System," December 7, 2009; all provisions. U.S. Department of Housing and Urban Development Notice H10-08 "Implementation of Refinement of Income and Rent Determination Requirements in Public and Assisted Housing Programs: Implementation of the Enterprise Income Verification System - Amendments; Final Rule," April 13, 2010. U.S. Department of Housing and Urban Development Notice H10-10 "Enterprise Income Verification (EIV) System," July 1, 2010; all provisions. All funding and administrative provisions related to HUD's Big Buy program, which assists affordable multifamily properties in meeting the financial impact of complying with the Lead Safe Housing Rule (24 CFR Part 35). All policies, funding and administrative issues related to managment and preservation of affordable multifamily housing subject to HUD, USDA-RHS and Treasury-IRS regulations. Advocated for timely and accurate Operating Cost Adjustment Factors from HUD (inflation factor applied to rents) & for a HUD mechanism to provide timely relief from unforeseen operating cost increases in HUD assisted properties. Advocated for more timely completions and accurate rents in HUD's mark-up-to-market program. Advocated for a repeal of HUD's policy prohibiting owners of HUD-assisted mixed subsidy properties from using project expenses to pay for Low Income Housing Tax Credit compliance fees mandated by state agencies. Advocated for policies to promote long-term sustainablity and financial solvency of Low Income Housing Tax Credit Properties, especially related to the need for utility and operating cost relief. Advocated for the Department of Housing and Urban Development to revise its policies and handbooks regarding the use of residual receipts. Requested that HUD reinstate 24 CFR 207.260 for insurance loss. Requested follow up from HUD regarding legal concerns over the Office of Affordable Housing Preservation Surplus Cash Analyses on Mark-to-Market properties. Requested guidance from HUD on how to treat tenants' requests to use medical marijuana. All policies related the Department of Housing and Urban Development 2530 previous participation certification policies and submission procedures. All policies related the Department of Housing and Urban Development's Management and Occupancy Review for owners and management agents. All policies related the Department of Housing and Urban Development's Real Estate Assesment Center scoring and procedures for HUD-assisted and/or FHA insured properties. Provided requested recommendations to HUD regarding possible reforms to the Section 202 elderly housing and Section 811 special needs housing programs. Requested clarification from U.S. Department of the Treasury (Treasury) and IRS officials regarding application of income and rent limits for properties financed with low-income housing tax credits (LIHTCs) or tax-exempt bonds (TEBs), pursuant to the "hold harmless" provisions within the Housing and Economic Recovery Act of 2008. U.S. Department of Agriculture-Rural Housing Service, Portfolio Management Division Draft Property Management Performance Assessment Review (would change management fee structure on certain rural affordable properties), May 2009; all provisions. Requested RHS form an "occupancy working group" to address vacancy challenges in affordable rural multifamily properties. Requested that IRS-Treasury, HUD and USDA-RHS form an interagency working group with stakeholder participation to identify and resolve major regulatory conflicts for affordable mixed-subsidy multifamily properties. Provided requested recommendations to the White House Executive Office of the President, HUD, Tresasury-IRS, USDA-RHS regarding the regulatory changes needed to harmonize federal rental assistance programs across agencies.

Client expense: $92,000 · Firm income: Not reported

Government targets: Agriculture, Dept of (USDA), Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), SENATE, Treasury, Dept of

Cosponsors for S 3326 and S 3141 - extending the tax credit exchange program.

Client expense: Not reported · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR 2918, Legislative Appropriations Act of 2010; HR 2996, Defense Appropriations; and S 3326, Interior Environment Appropriations

Client expense: $350,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE, White House Office

S. 3141 Low Income Housing Tax Credit Recovery Act of 2010, entire bill; H.R. 4109 Low Income Housing Tax Credit of 2009, entire bill; S. 3326 Job Creation and Affordable Housing Act of 2010, entire bill; H.R. 4687 Low Income Housing Tax Credit Exchange Expansion and Job Creation Act of 2010, entire bill

Client expense: $62,870 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, Natl Security Council (NSC), Office of Personnel Management (OPM), Office of the Vice President of the United States, SENATE

HR 2918, HR 2996, S 3326

Client expense: $1,490,000 · Firm income: Not reported

Government targets: Federal Emergency Management Agency (FEMA), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

FY 11 Commerce, Justice, Science Appropriations Bill for At Risk Youth programs FY 11 Transportation - HUD Appropriations Act for funding related to low-income housing FY 11 Labor, HHS, ED Appropriations Act for Educational Programs Housing Issues: HR 4213 - Tax Estenders, S. 3326 - Job Creation & Housing Act 2010

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Budget of the United States Government, Fiscal Year 2011; all provisions relating to the U.S. Department of Housing and Urban Development (HUD) and U.S. Department of Agriculture-Rural Housing Service (RHS) funding and administration of affordable multifamily housing and rental assistance programs and Treasury-Internal Revenue Service proposals related to the Low Income Housing Tax Credit and bond-financed multifamily housing programs. (continued) HR 4868-The Housing Preservation and Tenant Protection Act of 2010: A bill to help preserve federally financed and state-financed affordable housing at risk of conversion to market-rate housing, restore housing at risk of loss due to deterioration, protect residents of affordable housing; preserve troubled projects facing foreclosure, maintain housing affordability, create an affordable housing database, and reform the section 202 and rural housing programs; all provisions. S 118-Section 202 Supportive Housing for the Elderly Act of 2009: A bill to amend section 202 of the Housing Act of 1959 to improve the program under such section for supportive housing for the elderly, and for other purposes; all provisions. HR 2876- Rural Housing Preservation Act of 2009: A bill to establish a program to preserve rural multifamily housing assisted under the Housing Act of 1949; all provisions. HR 1675-Frank Melville Supportive Housing Investment Act of 2009: A bill to amend Section 811 to improve the housing for persons with disabilities program; all provisions. S. 1481-Frank Melville Supportive Housing Investment Act of 2009: A bill to amend Section 811 to improve the housing for persons with disabilities program; all provisions. HR 1989- The Section 538 Improvement Act of 2009: a bill to provide for subsidies for interest on loans for rural multifamily housing guaranteed by the Rural Housing Service of the Department of Agriculture; all provisions. HR 3045-The Section 8 Voucher Reform Act of 2009: A bill to reform the housing choice voucher program under section 8 of the United States Housing Act of 1937; all provisions. Requested amendment [to HR 3045] to allow the Department of Housing and Urban Development to Better Serve Persons with Limited Proficiency in the English Language by Providing Technical Assistance to Recipients of Federal Funds (owners of HUD-subsidized properties are recipents of federal funds) [not included]. Requested free standing legislation, A bill to allow the Department of Housing and Urban Development to Better Serve Persons with Limited Proficiency in the English Language by Providing Technical Assistance to Recipients of Federal Funds (owners of HUD-subsidized properties are recipents of federal funds) [not introduced during reporting period]. U.S. Department of Housing and Urban Development [Docket No. FR4878N02], Final Guidance to Federal Financial Assistance Recipients Regarding Title VI Prohibition Against National Origin Discrimination Affecting Limited English Proficient Persons, Jan. 22, 2007; all provisions. (Owners of HUD-subsidized properties are recipents of federal funds.) HR 476- Fair Housing Fairness Act: A bill to authorize $20 million for each of the next five years to allow HUD to test for discrimination in home buying, renting, or financing; all provisions. HR 4099- Energy Efficiency Modernization Act of 2009: A bill to establish incentives to increase the energy efficiency of federally assisted housing; all provisions. S. 2897 - Energy Efficiency Modernization Act of 2009: A bill to establish incentives to increase the energy efficiency of federally assisted housing. S 1676- Affordable Housing Preservation and Revitalization Act of 2009: A bill to allow the use of residual receipts from project-based voucher funded properties with expiring contracts to be transferred to nonprofit agencies that commit to preserving the affordable units; all provisions. HR 3897-Removing Reward for Section 8 Fraud Act of 2009:A bill to close a loophole that allows Project-Based Section 8 properties to lower rents for families who are repaying the government when welfare fraud has been detected; all provisions. HR 5072-FHA Reform Act of 2010: A bill to improve the financial safety and soundness of the FHA mortgage insurance program; Sec. 19 Maximum Mortgage Amount Limits for Multifamily Housing, all provisions related to multifamily housing projects with elevators and extremely high-cost areas. HR 3527-The FHA Multifamily Loan Limit Adjustment Act of 2009: A bill increasing the maximum mortgage amount limitations under the FHA mortgage insurance programs for multifamily housing projects with elevators and for extremely high-cost areas; all provisions. H.R. 2336-The Green Resources for Energy Efficient Neighborhoods (GREEN) Act of 2009:A bill to encourage energy efficiency and conservation and development of renewable energy sources for housing, commercial structures, and other buildings, and to create sustainable communities; all provisions. HR 2887-Affordable Housing Preservation Tax Relief Act of 2009: A bill to amend the Internal Revenue Code of 1986 to provide an incentive to preserve affordable housing in multifamily housing units which are sold or exchanged; all provisions. H.R. 4849-Small Business and Infrastructure Jobs Tax Act of 2010: A bill to provide tax incentives for small business job creation, extend the Build America Bonds program, and provide other infrastructure job creation tax incentives; Title II Section 204, Elective Payments in lieu of Low Income Housing Credits, all provisions authorizing elective payments (cash exchange) in lieu of LIHTCs for bond-financed buildings. HR 3641-Military Families Affordable Homes Act:A bill to simplify by the process for determining eligibility for a military housing allowance exclusion from income in a LIHTC property; all provisions. S 2827-Military Families Affordable Homes Act:A bill to simplify by the process for determining eligibility for a military housing allowance exclusion from income in a LIHTC property; all provisions. S. 1637-Expanding Building Efficiency Incentives Act of 2009: A bill to extend the existing new energy efficient home tax credit (section 45L) and allow it to be used more effectively with affordable multifamily housing; all provisions. HR 4109-Low Income Housing Tax Credit Act of 2009:A bill to amend the Internal Revenue Code to allow the low-income housing credit to be carried back 5 years; all provisions. S. 3141-Low Income Housing Tax Credit Recovery Act of 2010: A bill to provide a five-year carry-back for current and future low-income housing tax credit investments and allow LIHTCs to offset 100 percent of federal tax liability; all provisions. HR 2995-The Disaster State Housing Recovery Act of 2009: To amend the American Recovery and Reinvestment Tax Act of 2009 to clarify the low-income housing credits that are eligible for the low-income housing grant election; all provisions. S 1326-The Disaster State Housing Recovery Act of 2009: To amend the American Recovery and Reinvestment Tax Act of 2009 to clarify the low-income housing credits that are eligible for the low-income housing grant election; all provisions. H.R. 4173- Dodd-Frank Wall Street Reform and Consumer Protection Act: A bill to provide financial regulatory reform, protect consumers and investors, enhance Federal understanding of insurance issues, and regulate the over-the-counter derivatives markets; Title XIV, Subtitle G, all provisions in Sec. 1481 about the Multifamily Mortgage Resolution Program and in Sec. 1484 about Protecting tenants at foreclosure extension and clarification. HR 1935 -To amend the Internal Revenue Code of 1986 to provide for the treatment of partnership interests held by partners providing services; all provisions (affordable multifamily properties are often owned by partnerships in which the managing general partner assumes greater liablity for the property's compliance and management). H.R. 4106-Green Affordable Housing Act of 2009: The legislation would authorize HUD to create a program to make grants and loans to owners of eligible federally assisted housing projects for making eligible green retrofit improvements to their properties as long as those owners agree to an affordability extension, as determined by HUD, for the building; all provisions. Requested an additional $5 billion of commitment authority for FHA to insure mortgages under the General Insurance/Special Risk Insurance (GI/SRI) Fund for multifamily rental and health care facilities from the House Appropriations Committee on the first available vehicle. HR 4213- American Workers, State, and Business Relief Act of 2010 (as passed by the Senate 3/10/10):A bill to extend several expiring tax provisions; all provisions related to affordable multifamily housing in: Title I Sec. 121 Election for Refundable Low-Income Housing Credit for 2010; Title VI Sec. 604 Extension of Low-Income Housing Credit Rules for Buildings in GO Zones; Title VI Sec. 608 Election of Refundable Low Income Housing Credit for 2010 and Title VI Sec. 609 Low-Income Housing Grant Election. Requested amendments [to H.R.4213] to extend the LIHTC cash exchange program to 4% credits generated from bonds, to provide a 5-year carry-back for the low-income housing tax credit & to change passive loss laws to include certain S Corporations, limited liability companies, & closely-held C Corporations as LIHTC investors. [none included]. HR 4213- American Jobs and Closing Tax Loopholes Act of 2010 (as passed by the House 5/28/10):A bill to extend several expiring tax provisions; all provisions related to affordable multifamily housing in: Title II Sec. 231 Election for Direct Payment of Low-Income Housing Credit for 2010; Title II Section 297 Extension of Low-Income Housing Credit Rules for Buildings in GO Zones; Title VI Sec. 412. Income of Partners for Performing Investment Management Services Treated as Ordinary Income Received for Performance of Services (affects ownership structures of some multifamily properties); Title VI Sec. 606 Housing Trust Fund. Requested amendments [to H.R.4213] to extend the LIHTC cash exchange program to 4% credits generated from bonds and GO Zone Credits, to provide a 5-year carry-back for the low-income housing tax credit & to change passive loss laws to include certain S Corporations, limited liability companies, & closely-held C Corporations as LIHTC investors. [none included]. HR 3929- A bill to provide an extension of the low-income housing credit placed-in-service date requirement for certain disaster areas; all provisions. S. 1761-A bill to provide an extension of the low-income housing credit placed-in-service date requirement for certain disaster areas; all provisions. H.R. 4687-Low Income Housing Tax Credit Exchange Expansion and Job Creation Act of 2010: A bill to extend the LIHTC cash-exchange program for 2010 9 percent tax credits (Section 1602 from ARRA) and expand the program to include 4 percent LIHTCs; all provisions. S 3326- Job Creation and Affordable Housing Act of 2010: A bill to provide grants to States for low-income housing projects in lieu of low-income housing credits, and to amend the Internal Revenue Code of 1986 to allow a 5-year carryback of the low-income housing credit; all provisions. H.R. 4766-Permanently Protecting Tenants at Foreclosure Act of 2010: A bill to permanently extend the law that allows renters whose landlords have lost their properties to foreclosure the right to stay in the home for 90 days after the foreclosure or through the term of their lease, unless the property is sold to someone who will occupy the home; all provisions. Draft Legislation from HUD- Preservation, Enhancement, and Transforming Rental Assistance Act of 2010: The legislation would streamline the rental assistance programs would allow public housing and privately owned RAP, Rent Supp, and old Mod Rehab properties to convert to long-term project-based rental assistance, which includes a resident mobility feature; all provisions [not introduced]. U.S. Department of Housing and Urban Development [Docket No. FR5351F02], "Refinement of Income and Rent Determination Requirements in Public and Assisted Housing Programs: Implementation of the Enterprise Income Verification SystemAmendments; Final Rule," December 29, 2009; all provisions. Department of the Treasury-Internal Revenue Service Notice 2009-44 "Part III - Administrative, Procedural and Miscellaneous, Section 42. Low-Income Housing Credit," May 26, 2009; clarifies when utility submetering is permissible in Low Income Housing Tax Credit properies under the Section 42 utility allowance rules; all provisions. Department of Housing and Urban Development "Annual Contributions Contracts, Project-based Section 8 Contract Administration," May 14, 2010; all provisions. Department of Housing and Urban Development Office of Housing Assistance Contract Administration Oversight Draft Overview of Key Elements of Invitation for Submission of Applications for Contract Administrators and Annual Contributions Contract Revisions, January 26, 2010; all provisions. Department of Housing and Urban Development Public and Indian Housing Notice 2009-51: "PHA Determinations of Rent Reasonableness in the Housing Choice Voucher (HCV) Program Comparable Unassisted Units in the Premises," December 11, 2009; all provisions. Department of Housing and Urban Development Public and Indian Housing Notice PIH 2010- 18:"Revision to HUD Notice PIH 2009-51 PHA Determinations of Rent Reasonableness in the Housing Choice Voucher (HCV) Program Comparable Unassisted Units in the Premises," May 10, 2010; all provisions. Department of Housing and Urban Development Multifamily Housing Notice H2010-04: "Revised Protocol for Placing a Flag in the Active Partners Performance System (APPS) When a Property Receives a Physical Inspection Score Below 60 but Above 30," January 22, 2010; all provisions. HUD Handbook 4381.5, REV-2, Change-3 The Management Agent Handbook Chapter 6, Section 6.38 Management Costs Charged to the Projects Operating Account, all provisions in paragraph (e) related to requirements for Retirement Accounts for Front-Line Staff. HUD Handbook 4350.1 REV-1CHG-2 "Multifamily Asset Management and Project Servicing," Chapter 6: Conducting Management Reviews; all provisions. All funding and administrative provisions related to HUD's Big Buy program, which assists affordable multifamily properties in meeting the financial impact of complying with the Lead Safe Housing Rule (24 CFR Part 35). Urged HUD to provide greater transparency & opportunites for public comment in its policy development procedures and to improve communication with industry partners on policy determinations or interpretations that affect regulatory compliance. All policies, funding and administrative issues related to managment of affordable multifamily housing subject to HUD, USDA-RHS and Treasury-IRS regulations. Advocated for preservation of affordable multifamily housing participating in HUD, USDA-RHS programs or financed through Treasury-IRS Low Income Housing Tax Credit or bond programs. Advocated for timely and accurate Operating Cost Adjustment Factors from HUD (inflation factor applied to rents) & for a HUD mechanism to provide timely relief from unforeseen operating cost increases in HUD assisted properties. Advocated for more timely completions and accurate rents in HUD's mark-up-to-market program. Advocated for a repeal of HUD's policy prohibiting owners of HUD-assisted mixed subsidy properties from using project expenses to pay for Low Income Housing Tax Credit compliance fees mandated by state agencies. Advocated for policies to promote long-term sustainablity and financial solvency of Low Income Housing Tax Credit Properties, especially related to the need for utility and operating cost relief. Advocated for the Department of Housing and Urban Development to revise its policies and handbooks regarding the use of residual receipts and requested HUD to reinstate 24 CFR 207.260 for insurance loss. U.S. Department of Housing and Urban Development, Notice H 09-20, "Enterprise Income Verification (EIV) System," December 7, 2009; all provisions. U.S. Department of Agriculture-Rural Housing Service, Portfolio Management Division Draft Property Management Performance Assessment Review (would change management fee structure on certain rural affordable properties), May 2009; all provisions. Requested that the Department of Agriculture-Rural Housing Service seek authority to join the necessary interagency agreements which would allow use of the Enterprise Income Verification income matching system for tenant income verification necessary for RHS multifamily housing programs. Requested that IRS-Treasury, HUD and USDA-RHS form an interagency working group with stakeholder participation to identify and resolve major regulatory conflicts for affordable mixed-subsidy multifamily properties. Provided requested recommendations to the White House Executive Office of the President, HUD, Tresasury-IRS, USDA-RHS regarding the regulatory changes needed to harmonize federal rental assistance programs across agencies. Requested guidance from HUD on how to treat tenants' requests to use medical marijuana. All policies related the Department of Housing and Urban Development 2530 previous participation certification policies and submission procedures. All policies related the Department of Housing and Urban Development's Management and Occupancy Review for owners and management agents. All policies related the Department of Housing and Urban Development's Real Estate Assesment Center scoring and procedures for HUD-assisted and/or FHA insured properties. Provided requested recommendations to HUD regarding needed reforms to the Section 202 elderly housing and Section 811 special needs housing programs. Provided requested recommendations to HUD and EPA regarding energy efficiency reforms to the Section 202 elderly housing and Section 811 special needs housing programs.

HR 2918, HR 2996, S 3326

Client expense: $750,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

HR 2918, HR 2996, S 3326

Client expense: $790,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of