Advocacy Wins

A top goal of NAA’s advocacy on the “One Big Beautiful Bill” was to preserve elements of the 2017 tax law invaluable to rental housing providers. These include reduced individual income tax rates, the 20-percent qualified business income deduction, and an increased estate-tax exemption. All three were made permanent in the “One Big Beautiful Bill” and will be invaluable to rental housing businesses. 

NAA's advocacy for the “One Big Beautiful Bill” included provisions to address the housing supply crisis. The legislation made permanent an increase in Low Income Housing Tax Credits, lowered thresholds for tax-exempt bond financing, and expanded federal Opportunity Zones. These provisions will help create thousands of new rental homes. 

While pressing for pro-rental housing provisions in the “One Big Beautiful Bill,” NAA also focused on preventing negative revenue proposals that could harm housing providers. They urged lawmakers not to tax carried interest at ordinary income rates or restrict the deductibility of state and local business income and property taxes, among others. Congress ultimately excluded these proposals from the bill. 

The U.S. Department of Housing and Urban Development (HUD) announced a plan to reduce mortgage insurance premiums (MIPs) to 0.25 percent for new multifamily loan originations and multifamily refinancing programs through the Federal Housing Administration (FHA). This notice further eliminates the MIP categories established in 2016, which are misaligned with the presidential memoranda and have become economically obsolete.  

The Federal Housing Finance Agency (FHFA) rescinded its directive imposing three new federally-mandated landlord-tenant requirements on covered multifamily housing financed through Fannie Mae and Freddie Mac (the Enterprises), which would have required changes to millions of leases. 

In March, U.S. Department of Housing and Urban Development (HUD) Secretary Scott Turner and U.S. Department of the Interior (DOI) Secretary Doug Burgum announced the Joint Task Force on Federal Land for Housing. The Task Force aims to find federal land vacancies that can be used for new affordable housing units, assisting with land transfer operations, streamlining regulations and increasing awareness for the urgent need for more housing.

HUD terminated the Affirmatively Furthering Fair Housing Rule. In December, under the Biden Administration, the Agency also rescinded a proposed rule on criminal screening. Under the Trump Administration, the Agency has removed many guidance documents and notices related to rental housing. NAA continues to monitor closely for rulemakings to be formally withdrawn and removed from the Federal Register.

The Beneficial Ownership Information (BOI) pause on reporting enforcement for U.S. companies has been made permanent with FinCEN’s issuance of an interim final rule taking effect on March 26, 2025. The interim final rule dramatically reduces the rule’s scope of what BOI is subject to disclosure. 

The U.S. Environmental Protection Agency (EPA) announced that it will work with the U.S. Army Corps of Engineers (Army Corps) to review the definition of “Waters of the United States” (WOTUS). An appropriately scoped revision to the WOTUS definition would provide much-needed clarity and regulatory relief for developers across the country as they work to meet the nation’s rental housing needs.

Federal Communications Commission (FCC) Chair Brendan Carr withdrew a Biden-era proposal from circulation that would have banned broadband bulk billing arrangements between property owners and internet service providers, including jeopardizing existing contracts. The Commission’s move ensures that residents can continue to benefit from economies of scale, decreased costs and increased access to high-quality internet services in rental communities.

The U.S. Department of Energy (DOE) announced actions to postpone mandated efficiency standards for home appliances, including air conditioners, washers and dryers and water heaters. 

DOE delayed the effective date for a new, final rule that changes the energy conservation standards for gas-fired instantaneous water heaters. Implementation is delayed until May 20, 2025.

HUD has further delayed its HOME Investment Partnerships Program: Updates & Streamlining Final Rule, which imposed ten new federally-mandated landlord-tenant requirements for covered housing. Leases would have to include the HOME tenancy addendum, which lays out new rights and responsibilities, such as significant "good cause" limitations on terminations of tenancy, anti-retaliation protections and the right to organize for tenants in covered housing. The new effective date is October 30, 2025. 

The Federal Trade Commission (FTC) removed 300 blog postings from its website that made it difficult for the rental housing industry to understand changes to their federal compliance responsibilities. Blog entries circumvent the established rulemaking process under the Administrative Procedure Act and do not allow the public to comment as FTC imposed new standards.

The Federal Housing Finance Agency (FHFA) is no longer enforcing compliance with the CARES Act 30-day notice to vacate requirement for multifamily housing financed through Fannie Mae and Freddie Mac (the Enterprises). NAA members should consult with their local counsel if they have questions regarding their practices as a result of the actions of the Enterprises.

The multifamily housing industry relies upon ENERGY STAR more than any other voluntary standard developed and maintained by the United States Government. This beneficial program advances the mission of the EPA through public-private partnerships instead of heavy-handed regulations.

The Department of Housing and Urban Development (HUD) delays its final determination for new multifamily construction and rehabilitation projects financed by the agency to adopt certain model building codes. These requirements are not present in the bast majority of states nationwide as minimum energy standards.