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The Affordable Housing Tax Credit Coalition The Affordable Housing Tax Credit Coalition
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    • About the AHTCC
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    • AHTCC Members
    • Contact Us
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Oct 18

Advocacy Needed: Help the AHTCC Build Support for 2022 Year-End Housing Credit Priorities

  • October 18, 2022
  • 2022 News, Advocacy Resources, Affordable Housing Credit Improvement Act (AHCIA), Housing Credit

The AHTCC and our partners have begun preparing for the possibility of year-end tax legislation by urging the inclusion of our Low-Income Housing Tax Credit (Housing Credit) priorities: restoring and expanding on the 12.5 percent Housing Credit allocation increase, and lowering the 50 percent bond financing threshold. See our new resource for more details on our year-end Housing Credit priorities.

The 12.5 percent temporary Housing Credit allocation that expired at the end of 2021 may be considered as part of a “tax extenders” package, as there are a number of other tax provisions with bipartisan support that are also in need of extension. But beyond simply restoring the 12.5 percent cut, we are urging Congress to lower the 50 percent test to 25 percent to allow states to finance twice as much affordable housing with fewer private activity bond resources and further increase the Housing Credit allocation. These two changes could finance more than 735,000 additional affordable homes over the next ten years than otherwise possible, according to Novogradac.

Though there will be minimal legislative activity before the midterm elections, now is a critical time to lay the groundwork for legislation that may come together quickly after. See below to learn how you can support the AHTCC’s advocacy and help build support for our 2022 year-end legislative priorities to expand and strengthen the Housing Credit and increase our nation’s supply of affordable housing.

Building Support for the Affordable Housing Credit Improvement Act

To demonstrate bipartisan support for the above priorities, we are continuing to build support for the Affordable Housing Credit Improvement Act (AHCIA), which includes both of these key priorities and now has the support of more than one-third of Congress. There are currently 34 co-sponsors (24 Democrats and 10 Republicans) on the Senate version of the legislation, with several Democrats in the co-sponsor queue, and 193 co-sponsors (129 Democrats and 64 Republicans) on the House version. Several more members on both sides of the aisle are expected to be added soon.

Activating these supporters on our behalf over the coming weeks and months is critical, as is building more support for the AHCIA and highlighting our priorities to increase the supply of affordable housing.

How You Can Help: Ways to Support our Efforts to Urge the Inclusion of Housing Credit Priorities in Year-End Legislation

Engage and re-engage with existing AHCIA supporters (see House co-sponsors and Senate co-sponsors)

It is critical to continue engaging with all existing AHCIA and Housing Credit supporters, to let them know that we are seeking to include Housing Credit priorities in a year-end bill, highlighting the skyrocketing need for affordable housing that has only continued to grow since they co-sponsored the bill, and ask them to engage with Congressional leadership to support these priorities.

Urge Senators and Representatives to co-sponsor the AHCIA

Urging Senators and Representatives who have not already signed on to co-sponsor the legislation is critical to demonstrating the strongest possible bipartisan support for our priorities. Use the AHCIA bill summary, detailed overview of each provision, state fact sheet, and any of our other resources available here.

New Advocacy Resource: The Urgent Need to Invest in the Housing Credit

The AHTCC has created a new advocacy resource outlining our year-end Housing Credit priorities that are critical to boosting the nation’s supply of affordable housing. As you are connecting with existing AHCIA cosponsors and potential cosponsors, please feel free to use this resource in developing talking points and strategies for your meetings, and share the resource with Congressional offices as well.

Click the image on the right or click here to access and download the AHTCC’s new advocacy resource.

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The Affordable Housing Tax Credit Coalition is a trade organization of housing professionals who advocate in support of the Low-Income Housing Tax Credit

LATEST NEWS FROM AHTCC

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Looking forward to sharing #housing industry insight alongside @EmilyCadik, Bryan Greene of @nardotrealtor, and Steve O’Connor of @MBAMortgage on Monday, March 27 @NCSHAhome #LegCon23.

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