NATIONAL MULTIFAMILY HOUSING COUNCIL INC

Administration: Blueprint for a Renters Bill of Rights and a Resident-Centered Housing Challenge. Administration Two-part plan. Part One: protect renters and promote rental affordability. Part Two: federal actions to pursue a Renters Bill of Rights. In addition, Administration White House Fact Sheets on Biden-Harris Administration Announces New Actions to Boost Housing Supply and Lower Housing Costs, "The Price Isnt Right: How Junk Fees Cost Consumers and Undermine Competition, and President Biden Announces New Actions to Lower Costs for Americans by Fighting Corporate Rip-Offs, Administration rent caps/ rent control proposals and changes to annual income determination changes for Low-Income Housing Tax Credit (LIHTC) communities. Policies affecting apartment operations and management, specifically consumer reporting, resident screening (financial, criminal, resident history), consumer debt collection and eviction. H.R. 4606 and S. 32, Choice in Affordable Housing Act of 2023, all provisions. H.R. 3507 and S. 1688, Yes In My Backyard Act, all provisions. H.R. 802 and S. 3755, Respect State Housing Laws Act, all provisions. H.R. 5533, Healthy Homes Act of 2023, all provisions. S.3216 - Build More Housing Near Transit Act of 2023 S.3684/H.R. 7132 - Housing Supply and Affordability Act S.4460/H.R. 8604 - A bill to reduce regulatory barriers to housing, and for other purposes S.4146 - Neighborhood Revitalization and Land Banking Act of 2024 H.R. 6785 and S. 2790, Rural Housing Service Reform Act of 2023, all provisions Draft legislation, Housing Supply and Affordability Act (HR 2126, 117th Congress) Draft legislation establishing a national rental property registry. Draft legislation First Generation College Affordability Success Act, all provisions. Draft legislation establishing a FHFA pilot program to evaluate the best process for households to identify appropriate available rental dwelling units. Delivering Essential Protection, Opportunity, and Security for Tenants Act or DEPOSIT ACT (H.R. 1087/S.1814), all provisions. Draft legislation, to amend title 40, United States Code, to provide for the transfer of Federal surplus real property for use in qualified low-income residential projects, and for other purposes, all provisions. Housing Opportunity Through Modernization Act of 2016 (HOTMA) Implementation Department of Housing and Urban Development, FR-6436-N-01-Changes to the Methodology Used for Calculating Section 8 Income Limits Under the United States Housing Act of 1937, HUD-2024-0003. Department of Housing and Urban Development, Notice PDR-2024-02, Transmittal of Fiscal Year (FY) 2024 Income Limits for the Public Housing and Section 8 Programs. Department of Housing and Urban Development, HUD Proposed Rule on Reducing Barriers to HUD Assisted Housing - Docket No. FR-6362-P-1 (the Proposed Rule). Department of Housing and Urban Development. FR-6387-P-01 30-Day Notification Requirement Prior to Termination of Lease for Nonpayment of Rent. Department of Housing and Urban Development, HOME Investment Partnerships Program: Program Updates and Streamlining proposed rule - Docket No. FR-6144-P-01 Improvements to Department of Transportation Infrastructure Finance and Innovation Act (TIFIA) loan program to encourage transit-oriented multifamily development. Fees in rental housing. Fair Housing Act (Disparate Impact Rule, Screening, Criminal History Policy and Reporting) S.1293 - Fair Housing for Survivors Act of 2023 H.R.2918 - Fair Housing for Survivors Act of 2023 Eviction Crisis Act - Unintroduced Draft Draft Proposals: Rent Control, Rent Stabilization Government Funding Proposals Build America, Buy America - Request for Information Regarding Iron, Steel, Construction Materials, and Manufactured Products Used in Housing Programs Pursuant to the Build America, Buy America Act. FR-6433-N-01 U.S. Department of Housing and Urban Development (HUD) FY 2024 and 2025 DOT, USDA Rural Housing and HUD Appropriations funding levels and specific programs that include: Community Development Block Grants (CDBG); HOME Project-Based Voucher Programs Section 8 Source of Income Section 8 Voucher Program Fair Market Rent (FMRs) and Small Area Fair Market Rents (SAFMR) Rental Assistance Demonstration Program (RAD) Davis Bacon and Related Acts Violence Against Women Act 2022 (VAWA) PRO Housing Grant Program Homelessness Programs Rural Rental Assistance (RA) Implementation of the Violence Against Women Reauthorization Act of 2013 and 2022 Opposition to rent control Issues pertaining to housing affordability FHFA RFI on multifamily tenant protections Proposals for rental assistance for emergencies Administration Proposal: Housing Supply Action Plan The Transportation, Housing and Urban Development and Related Agencies, 2025

Broadband deployment, maintenance, access, affordability and adoption issues at multifamily communities. Federal policies impacting availability, affordability and reliability of voice, video and data services to multifamily housing communities, including but not limited to inside wiring, broadband and cellular services. Issues surrounding the risks and opportunities posed by artificial intelligence and other emerging technologies on multifamily financing, development and property operations. Issues related to Broadband Equity, Access and Deployment (BEAD) Program Extension and funding of the Affordable Connectivity Program (ACP) Federal Communications Commission, forthcoming Notice of Proposed Rulemaking to restrict bulk billing arrangements for broadband, cable, and satellite communications services. Federal Communications Commission, 47 CFR Parts 0, 1, and 16, The Infrastructure Investment and Jobs Act: Prevention and Elimination of Digital Discrimination, Final Rule. H.R.6929/S.3565 - Affordable Connectivity Program Extension Act of 2024 Fiscal Year 2025 Financial Services and General Government Appropriations, Request for The Federal Communications Commission (FCC)

Building Codes / Building Performance Standards Appliance and Equipment Efficiency Standards Electrification / Fuel Switching Climate Change / Sustainability Green Building Impacts on Housing Affordability Electric Vehicle Charging Initiatives

Building Codes / Resiliency Climate Change Building Health and Performance Requirements (Indoor Air Quality; HVAC) EPA Refrigerant Transition Issues

Extension of TCJA Business Tax Provisions & Tax Issues in Biden Administrations Fiscal Year 2025 Budget NMHC supports making permanent individual tax rates and the 20 percent qualified business income tax deduction that expire at the end of 2025. S. 1706, Main Street Tax Certainty Act, to amend the Internal Revenue Code of 1986 to make permanent the deduction for qualified business income, all provisions. H.R. 4721, Main Street Tax Certainty Act, to amend the Internal Revenue Code of 1986 to make permanent the deduction for qualified business income, all provisions. H.R. 7024, Tax Relief for American Families and Workers Act of 2024, Title II -- American Innovation and Growth, Section 202: Extension of allowance for depreciation, amortization, or depletion in determining the limitation on business interest, Section 203: Extension of 100 percent bonus depreciation, and Section 204: Increase in limitations on expensing of depreciable business assets; Title V -- More Affordable Housing, Section 501: State housing credit allowance ceiling increase for low-income housing credit and Section 502: Tax-exempt bond financing requirement. General Explanations of the Administration's Fiscal Year 2025 Revenue Proposals: Provide a neighborhood homes credit; Expand and enhance the Low-Income Housing Tax Credit; Apply the net investment income tax to pass-through business income of high-income taxpayers; Increase the net investment income tax rate and additional Medicare tax rate for high-income taxpayers; Increase the top marginal income tax rate for high-income earners; Reform the taxation of capital income; Tax carried (profits) interests as ordinary income; Repeal deferral of gain from like-kind exchanges; and Require 100 percent depreciation recapture of depreciation deductions as ordinary income for certain depreciable real property. Estate Tax, Stepped-Up Basis, and Taxation of Unrealized Capital Gains at Death NMHC supports making permanent the Estate Tax rules enacted as part of the Tax Cuts and Jobs Act of 2017. NMHC supports retaining current law providing for stepped-up basis at death and taxation of capital gains upon actual sale. Carried Interest NMHC believes that carried interest should be treated as a long-term capital gain if the underlying asset is held for at least one year.  Like-Kind Exchanges NMHC supports retaining current law. Depreciation Recapture Congress should oppose measures to increase the 25 percent depreciation recapture rate applicable to sales. Low-Income Housing Tax Credit and Middle-Income Housing Tax Credit S. 3436, Workforce Housing Tax Credit Act, to amend the Internal Revenue Code of 1986 to provide a credit for middle-income housing, and for other purposes, all provisions. H.R. 6686, Workforce Housing Tax Credit Act, to amend the Internal Revenue Code of 1986 to provide a credit for middle-income housing, and for other purposes, all provisions. H.R. 3238, Affordable Housing Credit Improvement Act of 2023, to amend the Internal Revenue Code of 1986 to reform the low-income housing credit, and for other purposes, all provisions, in particular issues relating to increased tax credit authority and tax-exempt bond financing requirements. S. 1557, Affordable Housing Credit Improvement Act of 2023, to amend the Internal Revenue Code of 1986 to reform the low-income housing credit, and for other purposes, all provisions, in particular issues relating to increased tax credit authority and tax-exempt bond financing requirements. NMHC supports an increase in the private-activity bond volume cap to enhance the use of 4 percent Low-Income Housing Tax Credits. Studied legislative proposals impacting the Low-Income Housing Tax Credit pertaining to encouraging the submetering of utility costs at Low-Income Housing Tax Credit properties. Adaptive Reuse Federal tax policies to encourage repurposing of non-residential properties into residential rental property, including proposals to establish tax credits and to enable housing finance agencies to issue private activity bonds to help facilitate adaptive reuse of underutilized properties, particularly in areas that have a plan to track discriminatory land use policies. Draft Legislation, Revitalizing Downtowns and Main Streets Act, to amend the Internal Revenue Code of 1986 to provide an investment credit for converting non-residential buildings to affordable housing, all provisions, including proposal to modify bill to not reduce basis of the investment credit created in the bill for purposes of the Low-Income Housing Tax Credit. H.R. 419, Revitalizing Downtowns Act, to amend the Internal Revenue Code of 1986 to provide an investment credit for the conversion of office buildings into other uses, all provisions. S. 2511 (117th Congress), Revitalizing Downtowns Act, to amend the Internal Revenue Code of 1986 to provide an investment credit for the conversion of office buildings into other uses, all provisions. Opportunity Zones NMHC supports: Enabling States to recertify and/or redesignate Opportunity Zones to account for current economic realities and changes since Zones were originally designated; (2) Establishing new deferral deadlines so that taxpayers are incentivized to receive both a longer deferral period and the potential for a 10 percent or 15 percent basis increase with respected to reinvested capital gains; and (3) Reducing the basis increase necessary to qualify a multifamily rehabilitation project for Opportunity Zone purposes. Self-Employment Taxes Issues pertaining to the Self Employment Contribution Act exception for limited partners in IRC section 1402(a)(13).