Prior to the passage of the CARES Act, NMHC called on lawmakers to enact a number of provisions that would provide assistance to renters and property owners affected by financial hardships as a result of the COVID-19 outbreak. Many of our proposals were incorporated into the $2 trillion CARES Act, not the least of which were the recovery rebates and the expanded unemployment benefits.
As Congress looks at the next phase of relief, NMHC is continuing to make the case for critically needed emergency relief for the rental industry, housing professionals and our residents. While NMHC is pleased to see that these provisions were included in the House-passed bill, there is much work left to be done. For example, establishing an emergency rental assistance program and preventing a protracted extension of a federal eviction moratorium are two key industry priorities.
NMHC is the voice of the apartment industry in Washington, D.C. – a role we don’t take lightly.
After all, decisions in Washington not only affect your organization’s bottom line, but also the safety and security of your employees and residents. The NMHC Government Affairs Team has spent approximately 7,400 hours working on your behalf since the onset of this crisis – read on to see the highlights of what we’ve been working on.
WE’VE GOT YOUR BACK ON CAPITOL HILL
Your residents’ ability to pay rent threatens their sense of security during an already uncertain time and ultimately affects your ability to fulfill mortgage obligations. That’s why we’re proud to have successfully advocated for the following provisions that could directly impact your renters:
- Pandemic Unemployment Assistance
- Recovery Rebates
- Employee Retention Tax Credit
- Employer Payroll Tax Deferral
- Net Operating Loss (NOL) Relief
- Multifamily Mortgage Forbearance
- Increased HUD Program Funding
- Essential and Critical Employee Designation
What we are working on now
The House of Representatives passed H.R. 6800, the Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act, on May 15. As the Senate begins debates on their version of a relief package, NMHC is in constant communication with lawmakers on several provisions important to the multifamily and its residents – including the following:
Create an Emergency Rental Assistance Program
Read the Factsheet >>>
Limit and Further Target Eviction Moratorium
Read the Factsheet >>>
Provide Financial Mitigation and Mortgage Forbearance Protections
Create a Federal Reserve Credit Facility for Mortgage Services
Expand the Small Business Administration’s (SBA) Paycheck Protection Program (PPP) to Include All Multifamily Businesses
Congress Needs to Hear From You
It’s more important than ever that Congress hear from leaders within the multifamily industry on these critical issues. With a third of Americans unsure if they will be able to pay next month’s rent and expanded unemployment insurance set to run out at the end of the month, Congress must act now to ensure our nation’s continued housing stability.
We’ve created resources to help you make our case with lawmakers.
- Download the Renter Assistance Fact Sheet | PDF
- Download the Extended Eviction Moratoriums Factsheet | PDF
Complete the NMHC Call To Action to help amplify our message.
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NMHC Advocates
- June 30, 2020
- June 29, 2020
NMHC and NAA letter to House on the Emergency Housing Protections and Relief Act
- June 10, 2020
NMHC and NAA Written Testimony for House Financial Services Committee COVID Rental Relief Hearing - May 27, 2020
Coalition Letter to Congressional Leadership Calling for Coronavirus Liability Protections - May 15, 2020
Coalition Letter to the House Urging Inclusion of Opportunity Zones in Stimulus Legislation - May 15, 2020
NMHC and NAA letter to SBA regarding PPP loans - May 14, 2020
NMHC and NAA Letter to House Regarding HEROES Act - April 23, 2020
Coalition Letter to Appropriators on Flood Mapping - April 20, 2020
Pandemic Risk & Liability: NMHC Calls for Loss Recovery Measures - April 20, 2020
Apartment Industry Seeks Clarification from Treasury Regarding Like-Kind Exchanges - April 17, 2020
NMHC and NAA Letter to Treasury Regarding Main Street Lending Facilities - April 16, 2020
NMHC Joins Broad Coalition Urging Treasury Amend Paycheck Protection Program - April 10, 2020
Joint Trades Letter to the National Association of Insurance Commissioners on Modifying Risk-Based Capital Guidance