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) [...]

• LIHTC Budget Proposals

On February 1, 2012, the Indiana State Senate adopted Engrossed Senate Bill 344 which would require county assessors to include the value of the federal Low Income Housing Tax Credit (Housing Credit) in the assessed value of Housing Credit properties.  This is a direct reversal of the methodology adopted by the General Assembly in 2004 [...]

• Indiana State Senate Bill

AHTCC Congratulations New Board of Directors

On December 14, 2011, Congressmen Pat Tiberi (R-OH) and Richard Neal (D-MA) introduced H.R. 3661 a bill which would permanently extend the flat 9% Credit rate and create a flat 4% Credit rate for allocated Credits. The bill currently has 7 cosponsors including: Vern Buchanan (R-FL); Emmanuel Cleaver (D-MO); Joseph Crowley (D-NY), Jim Gerlach (R-PA); Bill Pascrell (D-NJ); Charles Rangel (D-NY); and Lee Terry (R-NE). Additionally, Senators Maria Cantwell (D-WA) and Olympia Snowe (R-ME) introduced S. 1989 which is the Senate version of the same legislation. The Senate version currently has 9 cosponsors including: Jeff Bingaman (D-NM); Scott Brown (R-MA); Benjamin Cardin (D-MD); Susan Collins (R-ME); Mike Crapo (R-ID); John Kerry (D-MA); Robert Menendez (D-NJ); Bill Nelson (D-FL); and Bernard Sanders (I-VT).

Linked below is a rebuttal piece to Senator Tom Coburn’s (R-OK) proposal to eliminate the Low Income Housing Tax Credit, contained in his deficit reduction plan entitled “Back in Black”, released earlier this week.  We strongly encourage industry organizations and companies to sign-on to this piece.  A preliminary version has been distributed on the Hill. [...]

On April 26, 2011 the Joint Center for Housing Studies at Harvard University released a study entitled America’s Rental Housing: Meeting Challenges, Building on Opportunities” discussing the growing scarcity of affordable rental housing for moderate- and low-income Americans.  Highlights say that falling incomes, a reduction in affordable rental units, and increased competition from higher-income renters have made [...]

AHTCC Announces Winners of 17th Annual Charles L. Edson Tax Credit Excellence Awards

On March 4, 2011 AHTCC joined 10 other industry organizations on a letter encouraging Members of the Senate to ensure sufficient funding of Section 8 project-based contracts. As indicated in the letter, current funding proposals included in H.R. 1 will not be sufficient to honor HUD’s project-based Section 8 contracts. This Fact Sheet describes how [...]

On Monday, February 14, 2011, President Obama announced his FY2012 budget proposals noting the proposals represented a “responsible approach that will make the tough choices to cut spending and cut the deficit.” Of interest to AHTCC members are two Low Income Housing Tax Credit (Housing Credit) program proposals included in the Department of Treasury budget.  [...]

AHTCC has prepared the linked Housing Credit lobbying piece including facts about the Housing Credit, how the Housing Credit benefits communities, and quotes from Housing Credit program supporters.  We encourage AHTCC members to use this information when speaking with their Members of Congress about the Housing Credit program.  If you would like hard copies mailed [...]