Multifamily Markup - 07/13/2018 (Plain Text Version)

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NMHC Members Meet with HUD, FHFA Leadership

NMHC members held a number of top-level meetings with HUD and FHFA leadership on June 27. 
NMHC officers and members met with Secretary Carson and other senior HUD leadership staff to discuss key issues of importance to the multifamily industry. David Schwartz of Waterton Associates, Kenneth Valach of Trammel Crow Residential, James Schloemer of Continental Properties, Daryl Carter of Avanath, Jeff Brodsky of Related, and Nathan Taft of Jonathan Rose discussed the challenges associated with developing, preserving and managing multifamily housing. 

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AFFORDABLE HOUSING

NMHC Participates in Up for Growth National Coalition's Affordable Housing Panel Discussion

NMHC’s VP for Research, Caitlin Walter, participated in the Up for Growth National Coalition’s discussion on June 12, which was centered on the nation’s housing affordability challenges. Congresswoman Cathy McMorris Rodgers (R-WA), Congressman Denny Heck (D-WA), and Congressman Steve Stivers (R-OH) joined Walter, and other industry experts as speakers. [return to top]

SHORT-TERM RENTAL SERVICES

Multifamily Industry Defends Property Rights in Short-Term Rental Debate

The multifamily industry has been closely monitoring the impacts, both positive and negative, of peer-to-peer short-term rental services like Airbnb, VRBO and HomeAway. While these services are growing in popularity with consumers, they raise potential issues for apartment companies, including tenant lease violations, on-site security concerns and questions around liability and property insurance. These concerns over short-term rental practices as reported previously, have led to litigation in numerous jurisdictions. NMHC/NAA recently weighed in on the issue by filing an Amicus brief in the Ninth Circuit Court of Appeals in support of Aimco’s lawsuit against Airbnb. [return to top]

NATIONAL FLOOD INSURANCE PROGRAM

Senate Farm Bill Floats NFIP Extension

The Senate passed its 2018 Farm Bill, a legislative package that focuses on agriculture and nutrition programs, on Thursday, June 28. It included language that would reauthorize the National Flood Insurance Program (NFIP) for six months. While not traditionally a part of the Farm Bill’s jurisdiction, proponents of the language argued it was necessary to get the NFIP reauthorized. [return to top]

PRIVATIZED MILITARY HOUSING

NMHC/NAA Weighs in on NDAA Supporting Privatized Military Housing

This week, Congress began reconciling the differences between the House and Senate defense authorization bills passed earlier this year. NMHC/NAA are encouraged by signs that the final 2019 National Defense Authorization Act (NDAA) will include a reversal of reductions to military housing benefits. Previous defense authorization bills set in motion a five percent overall reduction to the Basic Allowance for Housing (BAH), and NMHC/NAA have long-raised concerns about the negative impacts of such cuts on the sustainment of privatized military housing projects. [return to top]

CREDIT REPORTS

NMHC/NAA Weigh in on Behalf of Renters Calling for Expanded Credit Scoring Models

NMHC/NAA this week submitted comments for the record at a Senate Banking Committee hearing entitled “An Overview of the Credit Bureaus and the Fair Credit Reporting Act.” The hearing was the latest in a series of  congressional reviews focused on consumer and credit reporting issues.  [return to top]

CLEAN WATER ACT

A Notice of Proposed Rulemaking Issued for Clean Water Act

The EPA and Army Corps of Engineers have issued a notice of proposed rulemaking for the Clean Water Act that reasserts the Trump administration’s plan to repeal the 2015 WOTUS rule and re-codifies the definition of “waters of the U.S.” to the language that was in place prior to the 2015 change under the Obama administration.  [return to top]

ENERGY POLICY

EPA Issues Proposed Revisions to Dust Lead Hazard Standards

The EPA has issued proposed revisions to the dust lead hazard standard for floors and window sills. The revisions to the lead dust standard align with updated research by the Centers for Disease Control and Prevention (CDC), which found that negative health effects in children can occur at lower exposure levels than the levels used to establish the standard in 2001. These hazard definitions contained in the Toxic Substances Control Act underpin other regulations enforced by EPA and HUD and are adopted by reference in state and local regulations. Analysis of lead in dust is the first step in investigating child lead exposure.  [return to top]

OPPORTUNITY ZONES

Opportunity Zones Could Tap $6 Trillion for Underserved Neighborhoods

Last December's tax reform legislation contained a little-discussed—but potentially game-changing—provision to direct some portion of the $6 trillion in unrealized capital gains at the end of 2017 into low-income communities, including in much-needed workforce and affordable housing. [return to top]

California Enacts Mini-GDPR Effective January 1, 2020

Pillsbury Law
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Tax Reform's Underrated Commercial Real Estate Impact Amid Residential Frenzy

Daily Business Review
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NMHC Members Meet with Congressional Black Caucus Members

NMHC PAC’s priority continues to be focusing on supporting key candidates that are working on issues that affect the multifamily industry. This week, NMHC members participated in a breakfast with Congressional Black Caucus (CBC) members. [return to top]

Trade Groups Urge Congressional Extension of National Flood Insurance Program

National Mortgage Professional Magazine
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NMHC/NAA File Amicus in Case Regarding Short-Term Rentals

Housing Wire
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Hearing: Supporting Economic Stability and Self-Sufficiency as Americans with Disabilities and their Families Age

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Hearing: H.R. 6147 - Department of the Interior, Environment, and Related Agencies Appropriations Act, 2019 Rules Committee Print 115-81 - Showing the text of H.R. 6147 and H.R. 6258 as reported by the Committee on Appropriations, as modified

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NMHC Fall Meeting Registration Opens

Make plans now to attend NMHC’s Fall Meeting September 12-14 at the InterContinental Hotel at The Wharf in Washington, D.C. The Fall Meeting is a  great opportunity to connect with peers and engage with top-ranking Congressional and Administration leaders. 

Gary Cohn, Former Director of the National Economic Council, and General Micheal Hayden, Former Director of the CIA and NSA, are among the many industry experts and policy makers that are set to speak at this year's meeting. For more information regarding this year's 2018 Fall Meeting agenda, please visit our meetings page

Registration has opened for this year's fall meeting, and if you wish to register, please click here

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