COVID-19 Response

Federal Policy Priorities

Last updated on 3/30/2020

LISC Policy is monitoring developments across the board at all agencies impacting our work – including the Department of Housing and Urban Development (HUD), the Department of Agriculture (USDA), the Department of the Treasury, the Small Business Administration (SBA), the Department of Commerce, the Department of Health and Human Services (HHS), the Department of Labor and the Corporation for National and Community Service (CNCS). We are focusing our legislative efforts first and foremost on: securing additional resources and waivers for housing and community development programs at HUD, including additional funding for Section 4; and securing additional funding and relevant waivers for CDFI Fund programs. 

We are working with the Low Income Housing Tax Credit (LIHTC) community to identify statutory waivers that will be needed to ensure that LIHTC properties are not deemed to be out of compliance as a result of anticipated slowdowns/stoppages in activities related to construction, inspection, government reviews, etc.; and to get a permanent fix to set a minimum rate on the 4% credit, which as a result of the cost of federal funds, is now at an all-time low of less than 3.2%.   

We are also working with the New Markets Tax Credit (NMTC) community to try and secure an additional $1.5 billion of tax credit allocation authority to be retroactively added to the 2019 allocation round, which would then bring that round (expected to be announced in early summer) up to $5 billion.

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