Housing Credit Legislation Introduced Today with Wide Bipartisan Support

Today, Housing Credit champions in both chambers of Congress reintroduced the Affordable Housing Credit Improvement Act (AHCIA; S. 1557 and H.R. 3238), comprehensive legislation that would expand and strengthen the Low-Income Housing Tax Credit (Housing Credit). The lead sponsors of the bill are Senators Maria Cantwell (D-WA), Todd Young (R-IN), Ron Wyden (D-OR), and Marsha Blackburn (R-TN) and House of Representatives members Darin LaHood (R-IL), Suzan DelBene (D-WA), Brad Wenstrup (R-OH), Don Beyer (D-VA), Claudia Tenney (R-NY), and Jimmy Panetta (D-CA).

In the House, the bill has more than 60 bipartisan original cosponsors. This is an unprecedented showing of support for the legislation at this early stage in the process. The Senate bill is being introduced with the four lead sponsors only, with a cosponsorship drive following introduction. See cosponsors by state.

According to estimates by Novogradac, the AHCIA would finance more than 1.94 million additional affordable rental homes, support approximately three million jobs, and generate $115 billion in federal, state, and local tax revenue and nearly $333 billion in wages and business income over the next decade.

The AHCIA is a top priority for NCSHA and its state HFA members, and HFAs already have been hard at work advocating with their members of Congress, as evidenced by the strong bipartisan showing of original cosponsors. We urge all Housing Credit stakeholders to get involved in the advocacy effort by joining the ACTION Campaign, chaired by NCSHA and Enterprise Community Partners. Membership is free, and we need your help to move this bill over the finish line this year.

For more information about the bill and its impact, see the ACTION Campaign Advocacy Toolkit, where you can find a one-page bill summary and a detailed section-by-section bill summary, as well as program fact sheets for every state and congressional district and more.