Travelogue | Travelogue - Housing Credit Connect 2023 | Day 2 - Morning

Post from our CEO from the Seattle Hotel hosting NCSHA's Housing Credit Connect conference.

"Well, the clothes are all out of the luggage and ironed and I am ready for the Housing Credit Connect conference. I'm about to go to the opening of the marketplace and then the plenary sessions. Now the question we need to ask at this point to really help focus our mind - and this is what I do as I prepare for a convention - is what are we going to look for. And there's actually four major topics among many other topics of interest to me. But I'm going to look for HOTMA, the Average Income Test, NSPIRE, and VAWA. And I just realized that is quite an alphabet soup of topics. Now today, I'm going to actually participate in the panel on HOTMA. And I'm going to listen carefully to see what states are doing to prepare for this upcoming deadline, which is January 1 of 2024. Sounds like a ways off yet, but it's not in terms of implementing all the good things in HOTMA. I also want to convey the message that HOTMA is either neutral for most provisions of the tax credit program or an improvement. This is better. Looking back on it a couple of years from now, I think we'll recognize this as a good thing. Then the Average Income Test. Now that the federal issues have been resolved, relating to the regulation for the Average Income Test, I'm interested to see how states are specifically implementing the Average Income Test. I believe it's a very important and beneficial provision of tax code. And I'm hoping to hear practical application there in the field. Now, tomorrow, we'll talk about NSPIRE. And I'm gonna listen carefully to what the IRS has to say, perhaps in closed-door sessions that we'll find out from our friends Who are with state agencies, or if the IRS speaks on this in open session. There's been some discussion on that they're not sure whether NSPIRE is going to replace UPCS for the tax credit code. From my perspective, UPCs will no longer legally exist once NSPIRE in place. So I'm very curious as to see how that will develop as we move forward into the October implementation of NSPIRE. And finally, VAWA. We're now entering an era where HUD is, as the law dictates, monitoring the Violence Against Women Act with the same penalties as the Fair Housing Act. And now they have their complaint website up, it's interesting to see what policy states will be developing to support the Violence Against Women Act in this new era, where it is significantly more important from a financial standpoint, to apply. We argue, of course, it's always been important from just a human standpoint, the right thing to do. But now we've got that imposing of massive penalties, we're going to as an industry want to make sure that we avoid, while also doing the right thing. Finally, on Friday, we'll have a closing workshop or excuse me, a roundtable discussion I'll be participating in. We can talk about any of those things as needed. We'll be happy to pass on the good things we learn if you're not able to be with us here at NCSHA. If you are here, look me up and we'll enjoy chatting. All right. I'm going to get to the session now. Bye!"

- Scott Micael Dunn | CEO costello Compliance 

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