On Tuesday, March 7, 2017, Senator Maria Cantwell (D-WA) and Senate Finance Committee Chairman Orrin Hatch (R-UT) introduced S. 548 – the Affordable Housing Credit Improvement Act of 2017 – designed to expand and strengthen the Low Income Housing Tax Credit program. This bill is very similar to the legislative introduced in 2016 and includes the 50 percent phased-in expansion in per capita Credits, the 4 percent Credit floor, and the income averaging provisions. Linked below is the bill text, and explanation of the differences contained in the 2017 bill, a section-by-section summary, and the ACTION Campaign’s comprehensive summary. Also included below is a list of current cosponsors.
AHTCC strongly encourages its members to contact their Senators to express their support for S. 548 and to encourage those Senators who have not already done so to cosponsor S. 548. Senators interested in cosponsoring the bill should contact Artie Mandel in Senator Cantwell’s office at 202-224-3441.