About the Housing Credit

AMERICA’S MAIN TOOL FOR CREATING AND PRESERVING AFFORDABLE RENTAL HOUSING
The Housing Credit is America’s main tool for creating and preserving affordable housing for veterans, seniors, working families-from teachers and nurses to administrative employees and social workers-and people with special needs, among others.

AN ACCOUNTABLE PUBLIC-PRIVATE PARTNERSHIP SIGNED INTO LAW BY PRESIDENT REAGAN
Signed into law by President Reagan, it is a public-private partnership that harnesses the power and accountability of the private sector, incenting investment in the development of affordable housing that the market alone cannot provide.

ADMINISTERED BY THE STATES; THE ONLY SOURCE OF SUPPLY
State administration reduces federal costs and bureaucracy and ensures that properties serve the unique housing needs of individual states in urban, suburban
and rural communities nationwide. Crucially, the Housing Credit is the only significant source of affordable housing supply.

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A proven tool to address America’s growing affordable housing crisis: Today, America is in the midst of an affordable housing crisis. Rising rents and flat wages have led to a record 21.3 million renters paying more than 30 percent of their income for housing, with 11.4 million paying more than half of their income on rent—leaving too little for other expenses like health care, transportation and nutritious food.

Since President Ronald Reagan signed it into law in 1986, the Housing Credit has created nearly three million quality homes, which have provided over the years a stable foundation of opportunity to get ahead for nearly seven million families.

A job creating economic stimulus: The Housing Credit brings jobs and economic stimulus to local communities. It annually generates over $9 billion in local income and supports more than 110,000 jobs nationwide, increasing consumer spending and providing states and municipalities with tax revenue to reinvest in communities.

A catalyst for private investment: Over its history, the Housing Credit has leveraged over $100 billion in equity capital.

Pay for performance, uniquely accountable: Unlike in a direct spending program, private investors – not the federal government – provide equity capital up front and bear the financial risk of development. Investors can claim credits only after properties are built and occupied by income-eligible residents at affordable rents. And, credits are subject to recapture if, in rare cases, properties fall out of compliance.

Part of America’s infrastructure of opportunity: Without a stable, affordable home, it’s nearly impossible to excel in school or on the job, to stay healthy or get ahead.  Affordable housing offers opportunity to grab a rung on the ladder of upward mobility by freeing up income for necessities beyond housing and providing the necessary, stable foundation to improve one’s own life.

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Latest News

AHTCC Applauds Representatives Tiberi and Neal for Leadership in Strengthening the Low-Income Housing Tax Credit to Address America’s Growing Housing Affordability Challenges

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Latest Blog Post

Housing as Infrastructure

By Todd Crow As noted on this site and widely embraced by housing advocates nationwide, Senator Maria Cantwell (D-WA) and Senate Finance Committee Chairman Orrin Hatch ( R-UT) have reintroduced a bill intended to expand and strengthen the Low-Income Housing Tax Credit (Housing Credit).  The current version, (S. 548, the Affordable Housing Credit Improvement Act

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New Members

Tidwell Group
Housing Catalyst
Regions Affordable Housing
California Tax Credit Allocation Committee
The Community Builders, Inc.
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See the Tax Credit in Action!

The Housing Credit Is Flexible In Serving Diverse Populations And In Meeting Local Needs:

Families

At least 20 million more families live in homes without access to jobs, education and other opportunities.

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Affordable rental housing provides the necessary foundation for families to improve their own lives—for parents to secure or excel at work or pursue additional education or job training, and for children to succeed at school.

 

Contact your members of Congress now to encourage them to support the Housing Credit!

Seniors

5.1 million senior households spend more than half their income on housing today, and the senior population is expected to nearly double by 2030.

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Contact your members of Congress now to encourage them to support the Housing Credit!

Vets

There are approximately 58,000 homeless veterans, while an additional 1.4 million veterans are at risk of homelessness.

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The Housing Credit attracts significant private investment in affordable housing for veterans, which, when combined with supportive services, has been proven effective in keeping at-risk and homeless veterans off the streets and increasing the chances of them becoming healthy members of society again. You Can Help!

Contact your members of Congress now to encourage them to support the Housing Credit!

 

 

Special Needs

The Housing Credit prevents thousands of people with disabilities from experiencing homelessness or unnecessary institutionalization.

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Empowering people to lead productive, meaningful lives in their communities – while helping states reduce health care costs, improve quality of life, and reduce homelessness.

 

Contact your members of Congress now to encourage them to support the Housing Credit!