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September 8, 2017
Apartment Industry Working with Lawmakers to Provide Storm Relief and Support
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The National Multifamily Housing Council (NMHC) and National Apartment Association (NAA) continued to work with federal policymakers this week as Texas begins to recover from Harvey and Irma threatens Florida. Our team has been communicating with a variety of officials at FEMA, HUD, SBA, Treasury, the GSEs and other agencies to monitor the response and determine the overall impact of the storms as well as the options that apartment communities may have in terms of government support. We recommend reviewing Freddie Mac’s most recent update that outlines their approach to dealing with impacted Borrowers and their properties and associated loans.

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Tax Reform Remains a Top 2017 Priority

Enacting tax reform by the end of 2017 remains a key priority for both the Trump Administration and Congressional Republicans. While a detailed plan has not yet emerged, Treasury Secretary Steven Mnuchin said on August 31 that a proposal could be released in the next several weeks. 

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NMHC Insider
Trump Cuts First Big Deal, Avoids Debt Ceiling & Government Shutdown
Members of Congress returned this week itching for a fight on a number of must-pass measures in the 12 legislative days remaining before the fiscal year, including raising the debt ceiling, avoiding a government shutdown, and providing funding for Hurricanes Harvey and Irma. All these issues were expected to become protracted and complex battles. Then, on Wednesday, September 6, President Trump shockingly reached an agreement with House Minority Leader Nancy Pelosi (D-CA) and Senate Minority Leader Chuck Schumer (D-NY) aimed at effectively addressing all three issues for the time being.
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TELECOMMUNICATIONS
NMHC Speaks Out Against Potential Rules for Multifamily Broadband
NMHC again filed comments with the Federal Communications Commission (FCC) on August 22, arguing against new regulatory limits on agreements between apartment companies and broadband providers. Specifically, NMHC argued that the ability of apartment owners to negotiate such agreements with broadband service providers does not hinder competition and rebutted unsupported assertions made by those favoring the regulation. NMHC also filed a letter jointly signed by eight trade associations representing a wide range of real estate sectors urging the FCC to refrain from imposing unnecessary and burdensome regulatory limits.
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CAPITAL MARKETS AND LIQUIDITY
Apartment Industry Comments on FHFA Housing Goals for 2018-2020
NMHC/NAA submitted a comment letter to the Federal Housing Finance Agency (FHFA) on the proposed housing goals for Fannie Mae and Freddie Mac (GSEs) covering the period 2018 through 2020.
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NATIONAL FLOOD INSURANCE PROGRAM
Harvey and Irma Bring New Urgency to Flood Insurance Program Reauthorization
As communities across the south focus on immediate concerns such as saving and protecting lives and property and bringing badly-needed resources to the area, the costs inflicted by the recent hurricanes will be felt for months and years to come.  NMHC/ NAA will closely monitor the aftermath of Hurricanes Harvey and Irma with our members and will work with state, local and federal officials to ensure the disaster recovery and housing needs of those affected are met.
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TAX REFORM
Crowley Introduces Legislation to Support Renters
Representative Joe Crowley (D-NY), Chairman of the Democratic Caucus and Ways and Means committee member, has introduced the ‘‘Rent Relief Act of 2017’’ to provide a tax credit for taxpayers who rent their homes.
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FAIR HOUSING and ADA COMPLIANCE
House Committee Holds Markup on ADA Lawsuit Bill
The U.S. House Judiciary held a markup on September 7th on the “The ADA Education and Reform Act of 2017” (H.R. 620) in an important first step in moving the measure in this Congress. NMHC/NAA supports this bipartisan bill which is designed to uphold the objectives of ADA while deterring costly and frivolous lawsuits against property owners. Similar to previous measures, the bill is narrowly tailored to target so-called “drive-by” lawsuits, which have become common throughout the real estate industry. The bill passed on a party line vote.
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GENERAL PARTNERSHIPS
IRS Provides Penalty Fee Relief for Late-Filing Partnerships
On September 1st, the Internal Revenue Service (IRS) provided penalty relief for partnerships, including multifamily real estate partnerships, that missed tax return filing deadlines earlier this year. Legislation enacted in 2015 moved the filing deadline from April 15 (April 18 in 2017) to March 15, the due date for partnership tax returns.
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NMHC MEETINGS
Don't Miss the 2017 Fall Board Meeting!
NMHC’s 2017 Fall Board Meeting is just around the corner and is the year’s best opportunity to meet with top lawmakers like Speaker of the House, Paul Ryan, engage with keynote speakers like Steve Case and J.D. Vance, network with industry peers and policymakers at a Washington Nationals vs. Atlanta Braves baseball game and participate in industry-relevant content forums and committee meetings.
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Upcoming Meetings

 
 
 
NMHC PAC
No Summer Recess for NMHC PAC

The final days of summer were exciting for the NMHC team as we prepared for the upcoming NMHC Board of Directors Meeting to be held at The Fairmont Hotel, Washington, D.C. September 12-14. Attending members will enjoy an outstanding line up of high-level policymakers and in-depth programming. Make your plans to attend today.

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Hill Watch
Senate Committee on Finance Hearing on Individual Tax Reform - September 14, 2017
House Oversight and Government Reform Committee Hearing on The "Recommendations of the Commission on Evidence-Based Policymaking" - September 12, 2017
Media Roundup
Trump's Deal With Democrats Another Hurdle for Tax Reform
Politico
Trump Urges Republicans to Start Tax Reform Immediately
CNBC
A Brief Guide to U.S. Corporate Tax Reform
Harvard Business Review
Trump Sells Tax Reform: 'Our Tax Code Is a Giant Self-Inflicted Economic Wound'
Fox News
Reauthorizing the National Flood Insurance Program
American Action Forum
Congress Eyes Brief Extension for Flood Insurance Program
Huffington Post
The Scoop

How Hurricanes Get their Names

As Hurricane Irma, a Category 5 storm, begins battering the Caribbean, you may wonder how hurricanes get their names.

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