Recent Features

Housing Credit Legislation Introduced in the 113th Congress

May 23rd, 2014

Legislation designed to create permanent floors for both 9 percent and 4 percent allocated Housing Credits has now been introduced in both the Senate and the House.

The House bill, introduced by Congressmen Tiberi (R-OH) and Neall (D-MA), is H.R. 4717 and currently has 45 cosponsors (24 Republicans and 21 Democrats).  The Senate bill, introduced by Senators Cantwell (D-WA) and Roberts (R-KS), is S. 1442 and has 28 cosponsors (23 Democrats, 2 Independents, and 3 Republicans).

AHTCC strongly encourages its members to contact their Congressional delegation to express their support for this legislation and to encourage those Members who have not already done so to cosponsor the legislation. Senators interested in cosponsoring S. 1442 should contact Erin Gulick in Senator Cantwell’s office at 202-224-3441 and Representatives interested in cosponsoring the House bill should contact Whitney Daffner in Congressman Tiberi’s office at 202-225-5355.

Congressmen Tiberi (R-OH) and Neal (D-MA) Reference AHTCC in Introducing Housing Credit Legislation

May 22nd, 2014

On Thursday, May 22, 2014 Congressmen Pat Tiberi (R-OH) and Richard Neal (D-MA) released a media release indicating they will introduce legislation which will create a permanent Credit floor for both 9 percent and 4 percent allocated Housing Credits. AHTCC expects the bill to drop later today and that it will include approximately 23 original cosponsors, showing great support for the Housing Credit program. **Update, the House bill number is H.R. 4717.**

In discussing this important piece of legislation Congressman Tiberi noted “I’ve seen first-hand the benefits of the Low-Income Housing Tax Credit during my visits to low-income housing developments in my district. It’s an effective, successful program and by making a permanent floor on the credit rate, we’re creating certainty for developers to create jobs and increase housing availability for more low-income families, veterans, seniors, and individuals living with disabilities.” Congressman Neal added “ensuring that Americans have access to affordable housing has always been a goal of mine. Our legislation accomplishes this by leveraging private capital to invest in new affordable housing in our neighborhoods and communities. As an added goal this legislation also supports a proven job creating initiative that puts thousands of Americans to work each year across the country.”

The joint media release notes this legislation is supported by more than 350 national, state, and local organizations and specifically acknowledges the support of the Affordable Housing Tax Credit Coalition.

The House bill number and an exact number of original cosponsors is not yet available – AHTCC will provide that information on our website www.taxcreditcoalition.org as soon as it becomes known. The House bill has companion legislation which has already been introduced in the Senate by Senator Maria Cantwell (D-WA). S. 1442 currently enjoys 26 cosponsors.

AHTCC strongly encourages its members to contact their Congressional delegation to express their support for this legislation and to encourage those Members who have not already done so to cosponsor the legislation. Senators interested in cosponsoring S. 1442 should contact Erin Gulick in Senator Cantwell’s office at 202-224-3441 and Representatives interested in cosponsoring the House bill should contact Whitney Daffner in Congressman Tiberi’s office at 202-225-5355. A complete list of cosponsors will be available online at http://beta.congress.gov/ – simply enter the bill numbers and click on the “cosponsors” link for the most up-to-date information.

AHTCC Joins Business Associations Group in Supporting Senate Passage of EXPIRE Legislation

May 22nd, 2014

On May 20th, AHTCC joined 151 additional business associations on a letter encourage the Senate to pass its extender legislation – the EXPIRE Act. The bill includes an extension of the 9 percent Credit floor and the creation of a 4 percent Credit floor for allocated Credits. The letter was delivered to each Senator’s office earlier this week.

The fate of the EXPIRE Act is still undetermined as issues over potential amendments continue.