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The Washington Report
MODERATOR PANELISTS
Michael Novogradac Novogradac & Company LLP
@Novogradac
David Gasson Boston Capital
@DSGasson
Richard Goldstein Nixon Peabody LLP
@GoldsteinRick
Peter Lawrence Novogradac & Company LLP
@NovocoPolicy
Agenda
Election Results
Looking Ahead – 2017
Potential for (and Challenges of) Tax Reform
Affordable Housing Improvement Act
Advocacy
HUD/GSEs
Has not stated a position However, his father developed a substantial amount of unsubsidized affordable rental housing in NYC
Trump & Affordable Housing
D O N A L D
TRUMP
A Look at the Senate Races
Contested 2016
34, no 2016 election 30, no 2016 election 9 safe D
17 safe R
8
A Look at the Senate Races
Results
46 Democrats 51 Republicans
La. Undetermined Runoff between John Kennedy and Foster Campbell Kennedy leads | Run-off is Dec. 10
2I
Key Senate Race Results State Democratic Candidate Republican Candidate Result Florida Illinois Indiana Missouri Nevada New Hampshire North Carolina Ohio Pennsylvania Wisconsin
Rep. Patrick Murphy Rep. Tammy Duckworth Former Sen. Evan Bayh Jason Kander Catherine Cortez Masto Gov. Maggie Hassan Deborah Ross Former Gov. Ted Strickland Kate McGinty Former Sen. Russ Feingold
Sen. Marco Rubio (incumbent) Sen. Mark Kirk (incumbent) Rep. Todd Young Sen. Roy Blunt (incumbent) Rep. Joe Heck Sen. Kelly Ayotte (incumbent) Sen. Richard Burr (incumbent) Sen. Rob Portman (incumbent) Sen. Pat Toomey (incumbent) Sen. Ron Johnson (incumbent)
Key Senate Race Results State Democratic Candidate Republican Candidate Result Florida Illinois Indiana Missouri Nevada New Hampshire North Carolina Ohio Pennsylvania Wisconsin
Rep. Patrick Murphy Rep. Tammy Duckworth Former Sen. Evan Bayh Jason Kander Catherine Cortez Masto Gov. Maggie Hassan Deborah Ross Former Gov. Ted Strickland Kate McGinty Former Sen. Russ Feingold
Sen. Marco Rubio (incumbent) Sen. Mark Kirk (incumbent) Rep. Todd Young Sen. Roy Blunt (incumbent) Rep. Joe Heck Sen. Kelly Ayotte (incumbent) Sen. Richard Burr (incumbent) Sen. Rob Portman (incumbent) Sen. Pat Toomey (incumbent) Sen. Ron Johnson (incumbent)
SENATE FINANCE COMMITTEE MEMBERS
Key Senate Race Results State Democratic Candidate Republican Candidate Result Florida Illinois Indiana Missouri Nevada New Hampshire North Carolina Ohio Pennsylvania Wisconsin
Rep. Patrick Murphy Rep. Tammy Duckworth Former Sen. Evan Bayh Jason Kander Catherine Cortez Masto Gov. Maggie Hassan Deborah Ross Former Gov. Ted Strickland Kate McGinty Former Sen. Russ Feingold
Sen. Marco Rubio (incumbent) Sen. Mark Kirk (incumbent) Rep. Todd Young Sen. Roy Blunt (incumbent) Rep. Joe Heck Sen. Kelly Ayotte (incumbent) Sen. Richard Burr (incumbent) Sen. Rob Portman (incumbent) Sen. Pat Toomey (incumbent) Sen. Ron Johnson (incumbent)
LEAD NMTC BILL SPONSOR
HOUSING CREDIT SUPPORTER
Key Senate Race Results State Democratic Candidate Republican Candidate Result Florida Illinois Indiana Missouri Nevada New Hampshire North Carolina Ohio Pennsylvania Wisconsin
Rep. Patrick Murphy Rep. Tammy Duckworth Former Sen. Evan Bayh Jason Kander Catherine Cortez Masto Gov. Maggie Hassan Deborah Ross Former Gov. Ted Strickland Kate McGinty Former Sen. Russ Feingold
Sen. Marco Rubio (incumbent) Sen. Mark Kirk (incumbent) Rep. Todd Young Sen. Roy Blunt (incumbent) Rep. Joe Heck Sen. Kelly Ayotte (incumbent) Sen. Richard Burr (incumbent) Sen. Rob Portman (incumbent) Sen. Pat Toomey (incumbent) Sen. Ron Johnson (incumbent)
Rubio Duckworth Young Blunt Masto Hassan Burr Portman Toomey Johnson
Senate Finance Committee Current Roster
Republicans Democrats
Orrin Hatch, UT Chuck Grassley, IA Mike Crapo, ID Pat Roberts, KS Michael Enzi, WY John Cornyn, TX John Thune, SD
Richard Burr, NC Johnny Isakson, GA Rob Portman, OH Patrick Toomey, PA Dan Coats, IN Dean Heller, NV Tim Scott, SC
Ron Wyden, OR Charles Schumer, NY Debbie Stabenow, MI Maria Cantwell, WA Bill Nelson, FL Robert Menendez, NJ
Thomas Carper, DE Benjamin Cardin, MD Sherrod Brown, OH Michael Bennet, CO Robert Casey, Jr., PA Mark Warner, VA
Members reelected
Senate Finance Committee Current Roster
Republicans Democrats
Orrin Hatch, UT Chuck Grassley, IA Mike Crapo, ID Pat Roberts, KS Michael Enzi, WY John Cornyn, TX John Thune, SD
Richard Burr, NC Johnny Isakson, GA Rob Portman, OH Patrick Toomey, PA Dan Coats, IN Dean Heller, NV Tim Scott, SC
Ron Wyden, OR Charles Schumer, NY Debbie Stabenow, MI Maria Cantwell, WA Bill Nelson, FL Robert Menendez, NJ
Thomas Carper, DE Benjamin Cardin, MD Sherrod Brown, OH Michael Bennet, CO Robert Casey, Jr., PA Mark Warner, VA
Retired
Senate Finance Committee Current Roster
Republicans Democrats
Orrin Hatch, UT Chuck Grassley, IA Mike Crapo, ID Pat Roberts, KS Michael Enzi, WY John Cornyn, TX John Thune, SD
Richard Burr, NC Johnny Isakson, GA Rob Portman, OH Patrick Toomey, PA Dan Coats, IN Dean Heller, NV Tim Scott, SC
Ron Wyden, OR Charles Schumer, NY Debbie Stabenow, MI Maria Cantwell, WA Bill Nelson, FL Robert Menendez, NJ
Thomas Carper, DE Benjamin Cardin, MD Sherrod Brown, OH Michael Bennet, CO Robert Casey, Jr., PA Mark Warner, VA
Retired
Possible replacements:
Jeff Flake R-AZ
Roger Wicker R-MS
Deb Fischer R-NE
Senate Finance Committee Current Roster
Republicans Democrats
Orrin Hatch, UT Chuck Grassley, IA Mike Crapo, ID Pat Roberts, KS Michael Enzi, WY John Cornyn, TX John Thune, SD
Richard Burr, NC Johnny Isakson, GA Rob Portman, OH Patrick Toomey, PA Dean Heller, NV Tim Scott, SC
Ron Wyden, OR Charles Schumer, NY Debbie Stabenow, MI Maria Cantwell, WA Bill Nelson, FL Robert Menendez, NJ
Thomas Carper, DE Benjamin Cardin, MD Sherrod Brown, OH Michael Bennet, CO Robert Casey, Jr., PA Mark Warner, VA
Up for election in 2018
A Look at the House Races
194 D EMO CRAT S
240 REP U BL I CA NS
1 U ND ET ERMINED
La. 4th District Undetermined Mike Johnson (R) favored over Marshall Jones (D) in Dec. 10 runoff
House Ways and Means Committee Current Roster
Republicans Democrats Kevin Brady, TX Sam Johnson, TX Devin Nunes, CA Pat Tiberi, OH Dave Reichert, WA Charles Boustany, LA Tom Price, GA Vern Buchanan, FL Adrian Smith, NE Robert Dold, IL Lynn Jenkins, KS Erik Paulsen, MN
Kenny Marchant, TX Diane Black, TN Tom Reed, NY Todd Young, IN Mike Kelly, PN Jim Renacci, OH Pat Meehan, PA Kristi Noem, SD George Holding, NC Jason T. Smith, MO Tom Rice, SC
Sander Levin, MI Charles Rangel, NY Jim McDermott, WA John Lewis, GA Richard Neal, MA Xavier Becerra, CA Lloyd Doggett, TX Mike Thompson, CA
John B. Larson, CT Earl Blumenauer, OR Ron Kind, WI Bill Pascrell, NJ Joseph Crowley, NY Danny K. Davis, IL Linda Sánchez, CA
Ways and Means Leadership
Kevin Brady R-TX
Sander Levin D-MI
Sander Levin D-MI
Will not seek re-election to ranking member position
House Ways and Means Committee Current Roster
Republicans Democrats Kevin Brady, TX Sam Johnson, TX Devin Nunes, CA Pat Tiberi, OH Dave Reichert, WA Charles Boustany, LA Tom Price, GA Vern Buchanan, FL Adrian Smith, NE Robert Dold, IL Lynn Jenkins, KS Erik Paulsen, MN
Kenny Marchant, TX Diane Black, TN Tom Reed, NY Todd Young, IN Mike Kelly, PN Jim Renacci, OH Pat Meehan, PA Kristi Noem, SD George Holding, NC Jason T. Smith, MO Tom Rice, SC
Sander Levin, MI Charles Rangel, NY Jim McDermott, WA John Lewis, GA Richard Neal, MA Xavier Becerra, CA Lloyd Doggett, TX Mike Thompson, CA
John B. Larson, CT Earl Blumenauer, OR Ron Kind, WI Bill Pascrell, NJ Joseph Crowley, NY Danny K. Davis, IL Linda Sánchez, CA
Ways and Means Leadership
Kevin Brady R-TX
Richard Neal D-MA
OR
Xavier Becerra D-CA
House Ways and Means Committee Current Roster
Republicans Democrats Kevin Brady, TX Sam Johnson, TX Devin Nunes, CA Pat Tiberi, OH Dave Reichert, WA Charles Boustany, LA Tom Price, GA Vern Buchanan, FL Adrian Smith, NE Robert Dold, IL Lynn Jenkins, KS Erik Paulsen, MN
Kenny Marchant, TX Diane Black, TN Tom Reed, NY Todd Young, IN Mike Kelly, PN Jim Renacci, OH Pat Meehan, PA Kristi Noem, SD George Holding, NC Jason T. Smith, MO Tom Rice, SC
Sander Levin, MI Charles Rangel, NY Jim McDermott, WA John Lewis, GA Richard Neal, MA Xavier Becerra, CA Lloyd Doggett, TX Mike Thompson, CA
John B. Larson, CT Earl Blumenauer, OR Ron Kind, WI Bill Pascrell, NJ Joseph Crowley, NY Danny K. Davis, IL Linda Sánchez, CA
Ran for Senate, did not advance to run-off
House Ways and Means Committee Current Roster
Republicans Democrats Kevin Brady, TX Sam Johnson, TX Devin Nunes, CA Pat Tiberi, OH Dave Reichert, WA Tom Price, GA Vern Buchanan, FL Adrian Smith, NE Robert Dold, IL Lynn Jenkins, KS Erik Paulsen, MN
Kenny Marchant, TX Diane Black, TN Tom Reed, NY Todd Young, IN Mike Kelly, PN Jim Renacci, OH Pat Meehan, PA Kristi Noem, SD George Holding, NC Jason T. Smith, MO Tom Rice, SC
Sander Levin, MI Charles Rangel, NY Jim McDermott, WA John Lewis, GA Richard Neal, MA Xavier Becerra, CA Lloyd Doggett, TX Mike Thompson, CA
John B. Larson, CT Earl Blumenauer, OR Ron Kind, WI Bill Pascrell, NJ Joseph Crowley, NY Danny K. Davis, IL Linda Sánchez, CA
Elected to Senate
House Ways and Means Committee Current Roster
Republicans Democrats Kevin Brady, TX Sam Johnson, TX Devin Nunes, CA Pat Tiberi, OH Dave Reichert, WA Tom Price, GA Vern Buchanan, FL Adrian Smith, NE Robert Dold, IL Lynn Jenkins, KS Erik Paulsen, MN
Kenny Marchant, TX Diane Black, TN Tom Reed, NY Mike Kelly, PN Jim Renacci, OH Pat Meehan, PA Kristi Noem, SD George Holding, NC Jason T. Smith, MO Tom Rice, SC
Sander Levin, MI Charles Rangel, NY Jim McDermott, WA John Lewis, GA Richard Neal, MA Xavier Becerra, CA Lloyd Doggett, TX Mike Thompson, CA
John B. Larson, CT Earl Blumenauer, OR Ron Kind, WI Bill Pascrell, NJ Joseph Crowley, NY Danny K. Davis, IL Linda Sánchez, CA
Retired
House Ways and Means Committee Current Roster
Republicans Democrats Kevin Brady, TX Sam Johnson, TX Devin Nunes, CA Pat Tiberi, OH Dave Reichert, WA Tom Price, GA Vern Buchanan, FL Adrian Smith, NE Robert Dold, IL Lynn Jenkins, KS Erik Paulsen, MN
Kenny Marchant, TX Diane Black, TN Tom Reed, NY Mike Kelly, PN Jim Renacci, OH Pat Meehan, PA Kristi Noem, SD George Holding, NC Jason T. Smith, MO Tom Rice, SC
Sander Levin, MI John Lewis, GA Richard Neal, MA Xavier Becerra, CA Lloyd Doggett, TX Mike Thompson, CA
John B. Larson, CT Earl Blumenauer, OR Ron Kind, WI Bill Pascrell, NJ Joseph Crowley, NY Danny K. Davis, IL Linda Sánchez, CA
Lost reelection
House Ways and Means Committee Current Roster
Republicans Democrats Kevin Brady, TX Sam Johnson, TX Devin Nunes, CA Pat Tiberi, OH Dave Reichert, WA Tom Price, GA Vern Buchanan, FL Adrian Smith, NE Lynn Jenkins, KS Erik Paulsen, MN
Kenny Marchant, TX Diane Black, TN Tom Reed, NY Mike Kelly, PN Jim Renacci, OH Pat Meehan, PA Kristi Noem, SD George Holding, NC Jason T. Smith, MO Tom Rice, SC
Sander Levin, MI John Lewis, GA Richard Neal, MA Xavier Becerra, CA Lloyd Doggett, TX Mike Thompson, CA
John B. Larson, CT Earl Blumenauer, OR Ron Kind, WI Bill Pascrell, NJ Joseph Crowley, NY Danny K. Davis, IL Linda Sánchez, CA
Chosen as HHS Secretary Nominee
House Ways and Means Committee Current Roster
Republicans Democrats Kevin Brady, TX Sam Johnson, TX Devin Nunes, CA Pat Tiberi, OH Dave Reichert, WA Vern Buchanan, FL Adrian Smith, NE Lynn Jenkins, KS Erik Paulsen, MN
Kenny Marchant, TX Diane Black, TN Tom Reed, NY Mike Kelly, PN Jim Renacci, OH Pat Meehan, PA Kristi Noem, SD George Holding, NC Jason T. Smith, MO Tom Rice, SC
Sander Levin, MI John Lewis, GA Richard Neal, MA Xavier Becerra, CA Lloyd Doggett, TX Mike Thompson, CA
John B. Larson, CT Earl Blumenauer, OR Ron Kind, WI Bill Pascrell, NJ Joseph Crowley, NY Danny K. Davis, IL Linda Sánchez, CA
Running for Governor in 2018
House Ways and Means Committee Current Roster
Republicans Democrats Kevin Brady, TX Sam Johnson, TX Devin Nunes, CA Pat Tiberi, OH Dave Reichert, WA Vern Buchanan, FL Adrian Smith, NE Lynn Jenkins, KS Erik Paulsen, MN
Kenny Marchant, TX Diane Black, TN Tom Reed, NY Mike Kelly, PN Jim Renacci, OH Pat Meehan, PA Kristi Noem, SD George Holding, NC Jason T. Smith, MO Tom Rice, SC
Sander Levin, MI John Lewis, GA Richard Neal, MA Xavier Becerra, CA Lloyd Doggett, TX Mike Thompson, CA
John B. Larson, CT Earl Blumenauer, OR Ron Kind, WI Bill Pascrell, NJ Joseph Crowley, NY Danny K. Davis, IL Linda Sánchez, CA
Running for Governor in 2018
Possibly…
House Ways and Means Committee Current Roster
Republicans Democrats Kevin Brady, TX Sam Johnson, TX Devin Nunes, CA Pat Tiberi, OH Dave Reichert, WA Vern Buchanan, FL Adrian Smith, NE Lynn Jenkins, KS Erik Paulsen, MN
Kenny Marchant, TX Diane Black, TN Tom Reed, NY Mike Kelly, PN Jim Renacci, OH Pat Meehan, PA Kristi Noem, SD George Holding, NC Jason T. Smith, MO Tom Rice, SC
Sander Levin, MI John Lewis, GA Richard Neal, MA Xavier Becerra, CA Lloyd Doggett, TX Mike Thompson, CA
John B. Larson, CT Earl Blumenauer, OR Ron Kind, WI Bill Pascrell, NJ Joseph Crowley, NY Danny K. Davis, IL Linda Sánchez, CA
Possible Republican Candidates:
David Schweikert R-AZ
Jackie Walorski R-IN
Mike Bishop R-MI
Carlos Curbelo R-FL
Barbara Comstock R-VA
House Ways and Means Committee Current Roster
Republicans Democrats Kevin Brady, TX Sam Johnson, TX Devin Nunes, CA Pat Tiberi, OH Dave Reichert, WA Charles Boustany, LA Vern Buchanan, FL Adrian Smith, NE Lynn Jenkins, KS Erik Paulsen, MN
Kenny Marchant, TX Diane Black, TN Tom Reed, NY Mike Kelly, PN Jim Renacci, OH Pat Meehan, PA Kristi Noem, SD George Holding, NC Jason T. Smith, MO Tom Rice, SC
Sander Levin, MI John Lewis, GA Richard Neal, MA Xavier Becerra, CA Lloyd Doggett, TX Mike Thompson, CA
John B. Larson, CT Earl Blumenauer, OR Ron Kind, WI Bill Pascrell, NJ Joseph Crowley, NY Danny K. Davis, IL Linda Sánchez, CA
Possible Democratic Candidates:
Brian Higgins D-NY
Marcia Fudge D-OH
Terri Sewell D-AL
Current House and Senate Leadership
REP. RYAN Speaker Wis. - 1
REP. PELOSI Minority Leader
Calif. - 12
SEN. MCCONNELL Majority Leader
Kentucky
SEN. REID Minority Leader
Nevada
HOUSE SENATE
Current House and Senate Leadership
REP. PELOSI Minority Leader
Calif. - 12
SEN. MCCONNELL Majority Leader
Kentucky
SEN. REID Minority Leader
Nevada
HOUSE SENATE
Future
SEN. SCHUMER Minority Leader
New York
REP. RYAN Speaker Wis. - 1
Want more analysis?
1. Check out Notes from Novogradac at www.novoco.com/blog for a quick-take post
2. Tune into the Tax Credit Tuesday podcast posted Tuesday, November 15th - found at www.novoco.com/podcast
3. Look for our most in-depth analysis in the Washington Wire and Policy Points sections of the December issue of the Journal of Tax Credits – www.novoco.com/journal
DEC
Sep. 30 Fiscal year end Jan. 20
Presidential inauguration
2016 2017
Dec. 31 Various extenders expire, including ITC for certain technologies, 45L, 179D
Dec. 1 Today
JAN FEB MAR APR MAY JUNE JULY AUG NOV OCT SEP
Mar. 31 CR expires
Mar. 15 Debt ceiling suspension expires
Pushed to Aug/Sep Debt ceiling suspension expires
Apr. 15 FY 18 budget resolution “due” Tax reform reconciliation instructions?
Dec. 9 CR expires
Treasury to employ measures to avoid breaching the limit
Feb/Mar FY 17 budget resolution ACA repeal reconciliation instructions?
April 30 100th Day
June 18 150th Day
Proposed by the House
House GOP Tax Reform Task Force • Calls for top 20% corporate tax rate
– No deduction for net interest expense, but immediate depreciation of new investments (excluding land)
• Top 33% individual tax rate, with 50% scalar for all investment income
• Silent on LIHTC, NMTC, HTC and tax-exempt bonds • Document does say that tax reform as proposed
“generally will eliminate special-interest deductions and credits in favor of providing lower tax rates.”
• Tax Reform Task Force describes the blueprint as “the beginning of our conversation about how to fix our broken tax code.”
• Legislative language by the first quarter of 2017
ACA Repeal
Comp. Tax Reform
Infra- structure
Corp. Integ.
FY 17 Budget
Reconciliation
FY 18 Budget
Reconciliation
S. 2962 Affordable Housing Improvement Act of 2016
Sen. Cantwell D-Washington
Sen. Hatch R-Utah
Sen. Wyden D-Ore.
Sen. Schumer D-N.Y.
Announced May 19, 2016
S. 2962 Affordable Housing Improvement Act of 2016
Sen. Cantwell D-Washington
Sen. Hatch R-Utah
Sen. Wyden D-Ore.
Sen. Schumer D-N.Y.
Announced May 19, 2016
Affordable Housing Improvement Act of 2016, Part 2
Sen. Cantwell D-Washington
Sen. Hatch R-Utah
S. 3237
Affordable Housing Improvement Act of 2016, Part 2
New, expanded bill includes provisions in first LIHTC bill, S. 2962: • 50 percent increase • Income-averaging • Minimum 4 percent rate
Sen. Cantwell D-Washington
S. 3237
Affordable Housing Improvement Act of 2016, Part 2
Additional Resources • Give states discretion to provide 30% basis boost for bond-
financed projects • Repeal QCT population cap • Relocation costs included in eligible basis • No basis reduction for certain energy tax incentives • Indian areas generally treated as DDAs
Sen. Cantwell D-Washington
S. 3237
Affordable Housing Improvement Act of 2016, Part 2
Financial Feasibility • 50% basis boost for ELI units • Modify student occupancy rules • Codify increased tenant income guidance • Modify 10-year rule • Limits apply to acquisition basis • Adopt uniform income eligibility for rural projects Sen. Cantwell
D-Washington
S. 3237
Affordable Housing Improvement Act of 2016, Part 2
Other • Simplify the LIHTC student rule • Clarify the ability to claim LIHTCs after casualty losses • Replace the ROFR with a purchase option • Add Native American projects as QAP selection criterion
Sen. Cantwell D-Washington
S. 3237
Affordable Housing Improvement Act of 2016, Part 2
Other • Modify the rent-setting rule • Clarify the community revitalization plan • Prohibit local approval or contribution requirements • Change the official name of the LIHTC to Affordable Housing Tax
Credit Sen. Cantwell
D-Washington
S. 3237
Affordable Housing Improvement Act of 2016, Part 2
Largest impact on equity for bond deals: • Minimum 4 percent • State discretionary boost of up to 30%
in areas outside of DDAs/QCTs • Repealing population cap on QCTs • Automatic DDA for Indian areas
Sen. Cantwell D-Washington
S. 3237
GSEs
• 2008 Agreement with Treasury - GSE bailout • Capital Reserve
– Quarterly Dividend • Net Worth over Capital Reserve
– Fannie Mae and Freddie Mac will have no Capital Reserve by 1/1/2018
• Wind down Investment Portfolio – $250 billion by 12/31/2018
Capital Requirement and Investment Portfolio
Mel Watt Federal Housing Finance Agency
Director
Housing Trust Fund
• In calendar year 2015, contributions were set aside by Fannie Mae & Freddie Mac
• Watt December 11, 2014 letters to Fannie Mae, Freddie Mac
• Grants for affordable rental housing that targets extremely low-income individuals and households
• HUD released interim rule on January 30, 2015 • HUD announced HTF state allocations on May 5 • Once state HTF allocation plans are approved, states can
award HTF grants to developments
2014 2016
59
2015
Mel Watt Federal Housing Finance Agency
Director
Housing Trust Fund
2016
2016 State Housing Trust Fund Allocations
California $10,128,143 New York $7,013,963 Texas $4,778,364 Florida $4,598,821 Illinois $4,302,012 Pennsylvania $3,862,285 Ohio $3,740,578 New Jersey $3,733,566 Michigan $3,522,622 Massachusetts $3,419,569
Top 10 State HTF Allocations
60
HUD/Treasury Reported Amounts
Housing Trust FundCapital Magnet Fund
$174M
$93M
Housing Trust Fund
2017
Preliminary 2017 estimate using 1st, 2nd and 3rd quarter of 2016 10-Q filings from Fannie/Freddie
California $28,058,595 New York $18,155,987 Texas $9,947,433 Florida $9,322,871 Illinois $8,459,331 Pennsylvania $6,935,453 Ohio $6,571,079 New Jersey $6,275,360 Michigan $5,691,580 Massachusetts $5,421,678
Top 10 State HTF Allocation Estimates
61
Preliminary Estimate
Housing Trust FundCapital Magnet Fund
$229M
$123M
Housing Trust Fund
2018 62
Mel Watt Federal Housing Finance Agency
Director
• Possible Watt will resign • Trump would assign new FHFA director who may halt
contributions for future years ?
FY 2015 Enacted
FY 2016 Enacted
President’s FY 2017 Proposed
Senate FY 2017 THUD Bill
House FY 2017 THUD Bill
Housing Choice Voucher $19,304 $19,628 $20,854 $20,431 $20,189
Project Based Section 8 $9,730 $10,620 $10,816 $10,901 $10,901
Public Housing Operating Fund $4,440 $4,500 $4,569 $4,675 $4,500
Public Housing Capital Fund $1,875 $1,900 $1,865 $1,925 $1,900
Section 202 $420 $433 $505 $505 $505
Section 811 $134 $150 $154 $154 $154
HOPWA $330 $335 $335 $335 $335
CDBG $3,000 $3,000 $2,800 $3,000 $3,000
HOME $900 $950 $950 $950 $950
Homeless Assistance $2,135 $2,250 $2,664 $2,330 $2,487
Choice Neighborhood Initiative $80 $125 $200 $80 $100
Overall $45,372 $46,978 $48,911 $48,434 $47,955
Note: amounts in Millions HUD Budget
The 2017-2018 HUD Budget
President
Senate
House
§8
$18.45B
$18.35B
$18.12B
PB§8
$10.8B
$10.9B
$10.9B
CDBG
$2.8B
$3.06B
$3.06B
HOME
$950M
$950M
$950M
PHCF
$1.87B
$1.93B
$1.9B
PHOF
$4.57B
$4.68B
$4.5B
Incoming HUD & Treasury Secretaries
Dr. Ben Carson
HUD Treasury
Steven Mnuchin President Elect Trump’s Campaign
Finance Chairman & Wall Street Insider Former GOP Presidential Candidate &
Retired Neurosurgeon