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December 2, 2016
The Election Is Over, Now What?
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Copyright: Natalia 61

On January 20, Donald J. Trump will be sworn in as the 45th president of the United States. It will mark the conclusion of an unprecedented and unparalleled election season that also saw the Republican Party sweep both houses of Congress. With the White House under control and majorities on both sides of the Capitol, Republicans largely view the next two years as an almost once-in-a-lifetime opportunity to enact their policy agenda.

Housing was largely absent from any election-related debate, so in some respects it’s too early to have a definitive understanding of what a Trump presidency exactly will mean for the apartment industry. However, given what is known about the Republican congressional agenda at large, there very well could be some noteworthy developments in the areas of regulatory reform, infrastructure and tax, with potentially significant ramifications for apartments. 

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What Would Tax Reform Mean for Multifamily?

Copyright: Wonder Visuals

Tax reform is expected to take center stage in the next Congress based on signals from President-elect Donald Trump and congressional Republicans. NMHC/NAA have made tax reform a top priority as well given that changes to the tax code have the potential to seriously impact the apartment industry’s ability to meet the nation’s housing needs. 

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NMHC Insider
NMHC Members Participate in Dallas Housing Forum
Top Congressional and key housing industry leaders from across the country gathered in Dallas on November 18 for a National Housing Forum sponsored by the J. Ronald Terwilliger Foundation for Housing America’s Families. As a image001_300host of the Forum, NMHC led several discussions. President Doug Bibby moderated a wide-ranging CEO roundtable discussion with NMHC members Sue Ansel of Gables Residential, Toby Bozzuto of The Bozzuto Group, and Ken Valach of Trammell Crow Residential. Egbert Perry of Integral and Ann Thorn of Bank of America were also participants on the panel.
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"Lame Duck" Congress Still Faces Critical Votes
Republicans have maintained control of both houses and are now beginning to plan their agenda for the Lame Duck Session and next Congress. To avoid a government shutdown, lawmakers need to pass a continuing resolution or another type of spending bill by December 9. The most likely outcome is a measure funding the government through late March or early May instead of through the fiscal year ending in October to allow the incoming Trump Administration a chance to press their priorities earlier than if they had to wait until the in their first year instead of waiting until the fall.
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SECTION 8
HUD Implements Small Area FMRs in in High-Cost Areas
The Department of Housing and Urban Development (HUD) has issued a final rule officially implementing Small Area Fair Market Rents (SAFMR) in place of 50 percentile fair market rents for high-cost metro areas. Importantly, it makes key changes suggested by NMHC/NAA. 
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Managing Risks: What We Learned at OPTECH

New risks continue to develop for multifamily firms as federal programs and standards evolve, creating new compliance requirements and challenges.  

The 2016 OPTECH Conference program included a series of sessions focused on new and emerging regulatory and compliance issues with consequences for multifamily operations. While some of the developments are in their infancy, multifamily executives should keep close watch over future changes, as they can increase compliance requirements and/or add risk to operations. Below are some of the key takeaways from the conference.
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LABOR POLICY AND UNIONIZATION
DOL Overtime Rule Blocked by Texas Judge
On Tuesday, November 22, a Texas federal judge blocked the Department of Labor overtime rule that would make more than four million private-sector workers eligible for extra pay. 
 
U.S. District Judge, Amos Mazzant, imposed a preliminary injunction against the rule Tuesday at the request of 21 states, the U.S. Chamber of Commerce and other business groups. While the rule was set to take effect December 1, the injunction preserves the status quo. The Court will now adjudicate the rule's validity.
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SUSTAINABILITY
ENERGY STAR Publishes New Marketing Materials for Apartment Owners
The Environmental Protection Agency (EPA) has produced new promotional materials to help owners of  properties that have earned the ENERGY STAR label to promote that fact. The materials can be co-branded and individually tailored to specific properties. EPA has also published a guide to help educate potential renters of the value of renting at an energy efficient property. 
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ENERGY AND EVIRONMENT
New NMHC Tool to Request Whole Building Utility Data
NMHC has developed a sample and customizable letter to help property owners make the case to a local utility that they should be given access to whole building usage data.  In addition to making the case for why such information is so critical to apartment firms, it also explains that through collaborations with several utilities around the country, the Department of Energy (DOE) demonstrated the feasibility of providing building owners this information in a way that protects individual consumer privacy, a key utility objection to sharing such data. 
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REMINDER
Complete the Legislative Priorities Survey!
NMHC's 2016 Legislative Priorities Survey was released yesterday and is key to informing the range of issues that we will focus on over the course of 2017. In order for us to be your best advocate in Washington, D.C., we need to hear from you so we know we are working the issues most important to you. Please take a few minutes to complete a short survey by December 15 to help us set our legislative priorities agenda for the new Congress and administration.
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NMHC MEETINGS
2017 NMHC Annual Meeting
The NMHC Annual Meeting is the largest gathering of the year where NMHC members come together to network with their colleagues and is now just around the corner. It will be held January 24 – 26 at the Manchester Grand Hyatt in San Diego, CA. You don't want to miss such policy and comedic luminaries such as former Secretary of State Condoleeza Rice and legendary comic, Dana Carvey.
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Upcoming Meetings
NMHC Annual Meeting, January 24-26, 2017 in San Diego, CA

NMHC Apartment Strategies Outlook Conference, January 24, 2017 in San Diego, CA

PAC and Member Alert
NMHC PAC Exceeds 2016 Goal, Well Positioned for 2017
Thanks to NMHC member support, the NMHC PAC enjoyed its best fundraising year to date in 2016. As of November 30, we have surpassed our $1.5 million goal. These funds were strategically distributed in a bipartisan manner to multifamily allies in the Senate and House. Election night may have held a big surprise for the nation at the Presidential level, but for the House and Senate races NMHC PAC was right on the money.
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Hill Watch
During Congress' lame duck session there have been no relevant committee hearings listed.
Media Roundup
Trump Treasury Pick: Fannie Mae and Freddie Mac Will Be Privatized
Housing Wire
What Treasury Nominee Steven Mnuchin Means for the Mortgage Market
Wall Street Journal
Stop Treating HUD Like A Second-Tier Department
FiveThirtyEight
Levin to Resign as Top Democrat on House Tax Writing Panel
Washington Post
Heads up Homeowners: Mortgage Interest Deduction on Trump's Chopping Block
CNBC
Airbnb Wins Block of San Francisco Short-Term Rental Law
Bloomberg
Obama's Regulatory Rush to the Finish Line
U.S. Chamber of Commerce
Binge Watch Season 2 of the Better Buildings Challenge SWAP: U.S. Naval and Air Force Academies
U.S. Department of Energy
HUD Announces Public Housing Smoking Ban
HUD
The Scoop

NMHC Hits the Links

Advocating on behalf of America’s apartment industry and creating a policy environment that fosters growth and investment isn’t all fun and games. But, every now and then, it is! NMHC’s very own Kimble Ratliff, Senior Director, Government Affairs, was ranked 51st on Golf Digest’s list of Washington D.C.'s Top 150 Golfers with a very respectable handicap of 8.8.

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