The Affordable Housing Tax Credit Coalition The Affordable Housing Tax Credit Coalition
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The Affordable Housing Tax Credit Coalition The Affordable Housing Tax Credit Coalition
  • ABOUT
    • About the AHTCC
    • AHTCC Leadership
    • AHTCC Members
    • Contact Us
  • HOUSING CREDIT
    • About the Housing Credit
    • How It Works
    • Impact
      • Native Americans
      • Veterans
    • Resident Stories
    • Finding Housing
  • ADVOCACY
    • Advocate Today
    • AHCIA of 2021
    • Regulatory Issues
    • AHTCC Priorities
  • GALLERY
  • EVENTS
  • AWARDS
    • Charles L. Edson Tax Credit Excellence Awards
    • Affordable Housing Champion Award
    • David Reznick Lifetime Achievement Award
  • NEWS
  • JOIN
Dec 08

AHTCC Raises Housing Credit Policy Priorities in Memo to Biden-Harris Transition Team

  • December 8, 2020
  • 2020 News, Affordable Housing Credit Improvement Act (AHCIA), AHTCC Organizational Update, Community Reinvestment Act (CRA), COVID-19 Response, Housing Credit, Regulatory Issues

The Affordable Housing Tax Credit Coalition (AHTCC) looks forward to working with President-Elect Joseph Biden, Vice President-Elect Kamala Harris, and the Biden-Harris Transition Team to ensure that every American has access to safe, stable, affordable housing and the opportunity that it provides. Summarized below, the AHTCC has shared with the Biden-Harris Transition Team a transition memo that details our legislative and regulatory priorities to help inform immediate policy decisions as they relate to affordable housing and the Housing Credit.

The AHTCC greatly appreciates the ambitious affordable housing platform set forth by the Biden-Harris campaign, and especially the proposal to strengthen and expand the Housing Credit. While the need for affordable housing is vast and growing at a staggering rate, we appreciate the acknowledgment that we already have proven tools at the ready to tackle this crisis. We look forward to working with the incoming Administration to advance these common-sense, bipartisan proposals.

Legislative Priorities to Expand and Preserve Our Affordable Housing Supply

  • Enact the Affordable Housing Credit Improvement Act to expand and strengthen the Housing Credit
  • Support affordable housing through any COVID-19 relief
    • Legislative Priorities for Immediate Emergency Relief:
      • Enact a minimum 4 percent Housing Credit rate, and
      • Allocate emergency rental assistance.
    • Legislative Priorities for Long-Term Economic Recovery:
      • Increase the annual Housing Credit allocation by 50 percent,
      • Lower the “50 Percent Test” bond financing threshold to 25 Percent, and
      • Provide additional Housing Credit basis boosts.

Regulatory Priorities to Expand and Preserve Affordable Housing Supply

  • Propose a single CRA Rule that strongly incentivizes Housing Credit investment
  • Address issues relating to amending tax returns and Forms 8609
  • Extend Housing Credit deadlines in response to disruptions from the COVID-19 crisis
  • Reform Housing Credit Average Income Test regulations proposed by the IRS
  • Support continued GSE investments in the Housing Credit

To learn more, read our full memo here.


Established in 1988, the AHTCC is a leading trade association of nearly 200 organizations and businesses that advocate for affordable housing financed using the Low-Income Housing Tax Credit (Housing Credit). AHTCC members represent the full spectrum of those involved in providing affordable housing, including syndicators, developers, investors, state allocating agencies, and affiliated businesses and non-profits, and together have financed or developed well over half of our nation’s nearly 3.5 million Housing Credit apartments.

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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

  • AHTCC Sets Sight on 118th Congress After 2023 Spending Bill Excludes Tax Provisions
  • Reps. DelBene, Wenstrup, and Over 50 Others Urge House Leaders to Take Immediate Action on Housing Credit

AHTCC ON TWITTER

21 Dec 1605617019885322242

This year's omnibus spending bill left out provisions to strengthen #LIHTC, but we'll keep advocating in the new year to expand the #HousingCredit to build more safe, decent & #affordablehousing....

Read more in @AHFMag on the path forward for our advocacy:

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Spending Package Boost HUD Funding

Advocates disappointed that housing tax credit proposals were not included.

www.housingfinance.com

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1900 M Street NW, 3rd Floor
Washington, DC 20036
202-935-0977
info@taxcreditcoalition.org

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