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Diane Yentel Profile picture
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3 Nov, 3 tweets, 2 min read
Today the House released its updated #BuildBackBetterAct. It continues to include all the essential funding allocations listed below! It also phases in S8 vouchers faster to create more new vouchers (300,000+) & expands/makes important improvements to LIHTC.
For the Low Income Housing Tax Credit, the #BuildBackBetterAct will phase in (over 3 years) temporary 40% increase of credits and lower the 50% test for bond financed properties to 25% for 5 years.
The bill also improves LIHTC program w/: new 8% set-aside for ELI properties & permanent 50% basis boost in properties w/ELI tenants; permanent basis boost for tribal properties; a fix to qualified contract loophole, & modified/improved Right of First Refusal

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More from @dianeyentel

Diane Yentel Profile picture
10 Sep
I’m testifying tomorrow, on behalf of @NLIHC, at a House Financial Services Committee hearing on reforms to expedite the delivery of emergency rental assistance. My written testimony is here: financialservices.house.gov/uploadedfiles/…

Some takeaways (thread):
The urgency of getting emergency rental assistance to tenants and landlords *cannot* be overstated - but many communities are spending their allocations much too slowly.

Only $7.5 billion of the first $25 billion of ERA has been spent or obligated.
While programs have collectively helped nearly 1m households, at least another 1.2m households submitted applications but have yet to receive aid. Many others struggle to complete applications due to complexity, inaccessibility, or documentation requirements.
Read 12 tweets
Diane Yentel Profile picture
9 Sep
🚨The HFS Committee just released bill to invest $330B+ in affordable housing as part of $3.5T reconciliation bill. It includes major investments in our top priorities:

- $90B rental assistance!
- $80B public housing!
- $37B national Housing Trust Fund!
Committee will vote on the bill on Monday. This is an extraordinary milestone – but we have further to go to achieve these long overdue and much needed investments!
Continue contacting your senators and representative and urge them to include full funding for the #HoUSed campaign’s priorities in the infrastructure and economic recovery package: nlihc.secure.force.com/actions/TakeAc…
Read 4 tweets
Diane Yentel Profile picture
18 Aug
This is, unfortunately, the 3rd time that Senator Wyden is introducing a bill to create a Middle Income Housing Tax Credit (MIHTC) and, for the 3rd time, we oppose the provision. finance.senate.gov/imo/media/doc/…
There’s a lot to like in the larger bill - expanded rental assistance, a new project based renters tax credit, and more. But a MIHTC remains a wasteful and misguided proposal.
There is no sound rationale for investing billions of dollars of scarce federal resources targeted toward the development of market-rate housing, when changes to local zoning laws would have largely the same impact.
Read 6 tweets
Diane Yentel Profile picture
24 Jun
🚨BREAKING: President Biden will extend federal eviction moratorium for 30 days & activate whole of government approach on eviction prevention/diversion, as we urged. Now we must redouble efforts to get ERA to tenants who need it to stay stably housed.
In addition to extending the moratorium, the White House will implement many of our recommendations including

1) New guidance from Treasury for ERA program to accelerate and broaden state and local delivery of funds.
2) Guidance from DOJ to state courts encouraging them to adopt anti-eviction diversion practices.

3) Guidance from HUD to prevent eviction-related Fair Housing Act violations.

4) Major public awareness effort to raise awareness about ERA.
Read 12 tweets
Diane Yentel Profile picture
15 Jun
NLIHC & our Disaster Housing Recovery Coalition of 850+ orgs are urging the Biden admin to extend the CDC eviction moratorium and use a whole of government approach to get emergency rental assistance out more efficiently & effectively. bit.ly/3iEUWkE ImageImageImage
While vaccinations rates are up & COVID-19 caseloads down in many areas, communities w/ lower vaccination rates & higher COVID-19 cases are the same as those with renters at heightened risk of eviction when the moratorium expires. evictionlab.org/filing-and-vac…
Allowing the federal eviction moratorium to expire before vaccination rates increase in marginalized communities could lead to increased spread of, and deaths from, COVID-19. papers.ssrn.com/sol3/papers.cf…
Read 15 tweets
Diane Yentel Profile picture
7 May
🚨Treasury and the White House release 2nd allocation of Emergency Rental Assistance and publish important new guidance with major improvements to help ensure the $ reaches the lowest income & most marginalized people in need. 🚨 (thread)
In March, @NLIHC wrote to @SecYellen @SecFudge @AmbassadorRice @genebsperling to share emerging & troubling trends with ERA programs & urged quick improvements to ensure the $ reaches the lowest income people in need. They listened and quickly acted.
Only a small # of ERA programs are using direct-to-tenant assistance despite some landlords refusing to participate.

We urged Treasury to strongly encourage direct-to-tenant assistance & reduce time period to determine landlord refusal.
Read 15 tweets

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