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November 17, 2017
NMHC Identifies Solutions to Housing Shortage at National Forum
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NMHC’s President, Doug Bibby, and NMHC members Daryl Carter of Avanath Capital Management and Larry Curtis of Winn Development joined Ron Terwilliger and a number of other housing leaders from across the country this week at the 2017 Housing America’s Families Forum. The J. Ronald Terwilliger Foundation forum brought together housing experts from government, business, advocacy and academia to discuss policies and approaches intended to alleviate the housing challenges facing the country.

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House Passes Tax Reform Legislation as Senate Finance Approves Competing Version

The House passed tax reform legislation that would make dramatic changes to the nation’s tax code on November 16. While largely leaving many provisions of critical importance to the multifamily industry intact, including those impacting interest deductibility, like-kind exchanges, and depreciation, it would make dramatic changes to both the individual and business sides of the tax code. A comparison table can be found here.

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NMHC Insider
NATIONAL FLOOD INSURANCE PROGRAM
House Passes Flood Reauthorization, Scoring Big Wins for Multifamily
This week, the House of Representatives took a major step towards reauthorizing the National Flood Insurance Program (NFIP) by passing the 21st Century Flood Reform Act. NMHC/NAA urged members of the House to support the package and sent a letter that outlined provisions of great importance to our industry. NMHC/NAA also helped lead a coalition of 17 multifamily and commercial real estate organizations in calling for passage.
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COMPENSATION and BENEFITS / LABOR POLICY and UNIONIZATION
House Overturns Joint Employer Rule
Following significant advocacy efforts by NMHC/NAA, the House passed legislation on November 8  to overturn the National Labor Relation Board’s (NLRB) joint employer rule – an important priority for the apartment industry The Save Local Business Act would rectify the NLRB rule by restoring the requirement that employers must have direct and immediate control over the essential terms and conditions of employment. Apartment firms would not be liable for fines resulting from employees of suppliers who violate Federal labor laws.
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REGULATORY REFORM
Bipartisan Group of Senators Announce Package to Provide Regulatory Relief for Financial Institutions
A number of Democratic and Republican Members of the Senate Banking Committee jointly announced an agreement on Tuesday, September 13, to put forward a legislative package designed to “improve our nation’s financial regulatory framework and promote economic growth.” The proposal is the result of input from a number of stakeholders, companies and consumers as well as a series of hearings and negotiations between lawmakers.
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GSEs and HOUSING FINANCE REFORM
Fannie Mae and Freddie Mac to Reenter the Low-Income Housing Tax Credit Market

The Federal Housing Finance Agency (FHFA) announced today that Fannie Mae and Freddie Mac (the Enterprises) will reenter the LIHTC market on a limited basis effective immediately. NMHC/NAA supported this concept in our comments to the Duty To Serve proposed guidance document issued by FHFA in the first quarter of 2016.

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Upcoming Meetings
 
Hill Watch
Senate Committee on Banking, Housing and Urban Affairs to conduct a hearing on the nomination of The Honorable Jerome H. Powell to be Chairman of the Board of Governors of the Federal Reserve System.
Media Roundup
GSE Reform in 2018? Mortgage Finance Positions of Power in Washington up for Grabs
Housing Wire
GSE Debate Inches Forward
Scotsman Guide
House Republicans Pass Tax Reform Bill
CNBC
All Eyes on Senate for Tax, Health Care Bill
CNN
House Passes Long-Term Reauthorization of National Flood Insurance Program
Housing Wire
House Passes Flood Insurance Renewal in Wake of Massive Storms
Politico
The Scoop

Pardoning the Thanksgiving Turkey

The official "pardoning" of White House turkeys is an interesting White House tradition that has captured the imagination of the public in recent years.  

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