Congressional News

Senate Finance Committee Passes Extension of the 9 Percent Credit Floor and Fixes the 4 Percent Credit Floor

April 7th, 2014

On April 3, the Senate Finance Committee approved the Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act of 2014, which would extend dozens of expired and expiring tax provisions.

House Ways and Means Committee Chairman Dave Camp (R-MI) Protects Housing Credit in Tax Reform Discussion Draft

February 26th, 2014

The Affordable Housing Tax Credit Coalition is pleased to see that House Ways and Means Committee Chairman Dave Camp (R-MI) has retained the Low Income Housing Tax Credit (Housing Credit) program in the tax reform discussion draft released today, February 26th.

Housing Credit Legislation Introduced in Senate

August 2nd, 2013

Yesterday, August 1, 2013, Senator Maria Cantwell (D-WA) introduced legislation to permanently extend the 9 percent Credit floor and create a 4 percent Credit floor for allocated Credits.  The bill is identical substantively to the legislation AHTCC and other industry groups advocated for last year which resulted in a temporary extension of the 9 percent [...]

Senators Maria Cantwell (D-WA) and John Barrasso (R-WY) Introduce Tribal Housing Legislation with Housing Credit Provisions

July 30th, 2013

On July 25, 2013 Senators Maria Cantwell (D-WA) and John Barrasso (R-WY) introduced S. 1352 the Native American Housing Assistance and Self-Determination Reauthorization Act of 2013. The bill currently enjoys 8 cosponsors including: Mark Begich (D-AK), Al Franken (D-MN), Heidi Heitkamp (D-ND), Mazie Hirono (D-HI), Tim Johnson (D-SD), Brian Schatz (D-HI), Jon Tester (D-MT) and [...]

AHTCC Submits Comments on LIHTC to House Ways and Means Real Estate Tax Reform Working Group

April 15th, 2013

As previously reported, the House Committee on Ways and Means is currently considering ways to reform the Internal Revenue Code. As part of this effort, the Committee has created 11 tax reform working groups which will each review specific portions of the Tax Code.  The Working Groups provided an opportunity for the general public to [...]

Bipartisan Policy Center Publishes Housing America’s Future: New Directions for National Policy

March 28th, 2013

On February 25, 2013 the Bipartisan Policy Center published a new report entitled Housing America’s Future: New Directions for National Policy.

Tax Bill Passed to Avoid Fiscal Cliff Includes 9% LIHTC Floor Extension

January 3rd, 2013

Late Tuesday night, the House passed the previously Senate-passed bill designed to avert the fiscal cliff and put off drastic automatic spending cuts.

GAO Releases Housing Credit Report

December 12th, 2012

In passing the Housing and Economic Recovery Act of 2008 (HERA), Congress asked the Government Accountability Office (GAO), the audit, evaluation and investigative arm of Congress, to analyze and report to Congress on the changes made by HERA by the end of 2012. On December 6, 2012, GAO released that report and it is publicly [...]

HUD Secretary Offers LIHTC Proposals in Testimony Before Appropriations Committee

March 21st, 2012

On March 21, 2012, U.S. Department of Housing and Urban Development Secretary Shaun Donovan testified before the House Appropriations Subcommittee on Transportation, Housing and Urban Development, and Related Agencies calling for expansions in the Housing Credit program calling the Housing Credit “the primary tool of the Federal Government for developing and rehabilitating affordable rental housing.” [...]

LIHTC Items Included in the President’s 2012 Budget

February 14th, 2012

On February 13, 2012 President Obama released his proposed 2012 budget.  Included are 4 Low Income Housing Tax Credit provisions. Encourage Mixed Income Occupancy By Allowing LIHTC-Supported Projects to Elect a Criterion Employing a Restriction on Average Income: This proposal would allow developments to lease to residents earning up to 80% of area median income (AMI) [...]