From NAHB Now

After months of work by NAHB’s Housing Credit Group members, legislation has been introduced in the House and Senate to improve the Low-Income Housing Tax Credit, as well as provide it with additional resources.

In the Senate, the Affordable Housing Credit Improvement Act (S. 1703) has been introduced by Sens. Maria Cantwell (D-Wash.); Ron Wyden (D-Ore.), the ranking member of the Senate Finance Committee; Johnny Isakson (R-Ga.); and Todd Young (R-Ind.)

The House bill (H.R. 3077) was introduced by Reps. Suzan DelBene (D-Wash.), Kenny Marchant (R-Texas), Don Beyer (D-Va.) and Jackie Walorski (R-Ind.).

The Affordable Housing Credit Improvement Act includes key provisions NAHB strongly supports. The bill would:

  • Establish a permanent minimum 4% credit floor. Currently, this credit rate floats, and the current low interest rate environment results in 15 to 20% less equity available for development. Establishing a 4% minimum floor would provide more predictability and flexibility in financing projects, making more types of properties financially feasible and significantly increasing unit production.
  • Increase 9% credit allocations by 50%.
  • Prohibit local approval and contribution requirements, which can be misused to block affordable housing projects
  • Rename the Low-Income Housing Tax Credit the Affordable Housing Tax Credit.

 

JOIN THE ACTION SIGN-ON LETTER!

The ACTION Campaign will be submitting a letter to Congress demonstrating strong support for the Affordable Housing Credit Improvement Act. Read the letter and sign on to support the Affordable Housing Credit Improvement Act of 2019. The deadline for signing on to the letter is Tuesday, June 11.
 

All existing ACTION Campaign members will be included in the letter, so if you are already an ACTION Campaign member you do NOT need to sign on.

 
If you have any questions or wish to remove your organization from the letter, contact Sarah Brundage at sbrundage@enterprisecommunity.org by the June 11 deadline.
 
For more information on the bill, you can find the following resources at www.rentalhousingaction.org/advocacytoolkit:
  • AHCIA one-page summary
  • AHCIA detailed bill summary
  • AHCIA differences between 116th and 115th Congress


Founded in 1997, the Texas Affiliation of Affordable Housing Providers (TAAHP) is a non-profit trade association serving as the primary advocate and leading resource for the affordable housing industry in Texas. Our vision is to inspire and engage our members and stakeholders to end the affordable housing crisis in Texas.

Contact Us

221 E. 9th Street, Suite 408
Austin, TX 78701

TAAHP

TAAHP

Phone: 512-476-9901 | Email: info@taahp.org

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