H.R. 1661 – The Affordable Housing Credit Improvement Act of 2017 – was introduced on March 21, 2017 and is designed to strengthen the Low Income Housing Tax Credit program. This bill is considered companion legislation to S. 548 introduced by Senators Maria Cantwell (D-WA) and Orrin Hatch (R-UT). H.R. 1661 would provide for a 4 percent Credit floor, an the income averaging provision, and make other technical changes. Though the two bills are very similar, H.R. 1661 does not include an increase in allocated Credits. Linked below are the bill text, a section-by-section summary, and the ACTION Campaign’s comprehensive summary. Also included below is a list of current cosponsors. The lead sponsors of this bill are Congressmen Carlos Curbelo (R-FL) and Richard Neal (D-MA).
AHTCC strongly encourages its members to contact their Representatives to express their support for H.R. 1661 and to encourage those Representatives who have not already done so to cosponsor H.R. 1661. Members interested in cosponsoring the bill should contact Congressman Curbelo’s office at 202-225-2778 or Congressman Neal’s office at 202-225-5601.