NMHC and the National Apartment Association unite under the auspices of the NMHC/NAA Joint Legislative Program to support legislative and regulatory policies that enable the nation's 24 million multifamily rental housing units to continue to provide high quality homes that remain accessible and affordable.

This brochure identifies the apartment industry's top legislative and regulatory priorities for 2008.

Meeting America’s critical housing needs by bringing more balance to our national housing policy remains the highest legislative priority of the apartment industry in 2008.

The U.S. is experiencing social, cultural and demographic changes that are reshaping the way we live, work and play and creating unprecedented demand for rental housing.  Yet, even as demand for rental housing rises, our nation’s housing policy continues to emphasize home ownership to the detriment of other quality housing alternatives.  In 2008, we will continue our effort to educate legislators about how multifamily rental housing can help meet the need for quality affordable housing.

Among the groups' top priorities are:

• Section 8 Vouchers .   NMHC/NAA strongly support full funding for all existing Section 8 housing choice vouchers, as well as continued federal administration of the program.  The organizations will strongly oppose efforts to turn the program into a block grant program that will reduce long-term funding for it.

• Exit Tax.  NMHC/NAA urge Congress to pass legislation to waive depreciation recapture taxes on older properties so that new investors can maintain federally – assisted affordable housing stock.

• Estate Tax. NMHC/NAA support efforts to extend the estate tax law due to expire in 2009 and reduce the rate of tax while increasing the amount exempt from estate taxes.

• Government Sponsored Enterprises. NMHC/NAA support reform that establishes a strong independent regulator who can establish parameters for safety and soundness as needed.

• Immigration. NMHC/NAA urge Congress to enact a comprehensive immigration law that protects our borders coupled with a reasonable/enforceable guest worker program.