Late last year, the Texas Senate released their 86th Interim Legislative Charges for each of their committees. For the Senate Intergovernmental Relations (IGR) committee, a review of the (LI)HTC program was listed as the committee’s top priority.
2020 Census Results Will Have Substantial Impact on Affordable Housing Program Allocations for Texas
Every 10 years, the U.S. Census Bureau carries out a constitutionally mandated count, or Census, of the nation’s residents. The U.S. population count is used to determine how much funding local communities and states receive for public services, such as the Housing Tax Credit program (HTC), HOME, and CDBG. Stated by CPPP, “billions of dollars in federal aid depends on the accuracy of the Census, including significant support for health care, housing, transportation, food, and more. Being undercounted by even one percent in 2020 could result in a significant loss in federal funding for Texas – at least $300 million a year.” Additionally, the population count determines how many seats each state gets in Congress and state and local officials use the census counts to draw boundaries for congressional, state legislative, and school districts.
On December 16, 2019, congressional leaders released the end of the year tax package, Taxpayer Certainty and Disaster Tax Relief Act of 2019. This bill includes federal tax breaks for brewers, distillers, churches with parking lots, and some wind energy producers. However, last minute objections ended the possibility of any housing credit provisions from being incorporated – specifically the Affordable Housing Credit Improvement Act – to reduce the scope of the bill in order to deliver a “skinny package.”