Housing Credit Bill Surpasses Major Milestone with the Majority of House Members Cosponsoring the Legislation
WASHINGTON, DC – The Affordable Housing Credit Improvement Act (AHCIA, H.R. 3077) now has the cosponsorship support of more than half of the House of Representatives, reaching 221 members on March 13, including 145 Democrats and 76 Republicans from 44 states. The legislation, which was introduced only nine months ago, includes nearly all of NCSHA’s Housing Credit-related priorities, including a 50 percent expansion of the Credit; a minimum 4 percent rate for bond-financed developments; a state-determined 30 percent basis boost for bond-financed developments; a 50 percent basis boost for Credit units reserved for extremely low-income households; and an expansion of multifamily Housing Bond recycling authority, which would allow for more Housing Bond-financed properties.
Just this week, representatives from state HFAs across the nation came to Washington, DC, to advocate for this critical legislation during NCSHA’s Legislative Conference. Their work helped to push this bill over this major milestone, and we can expect more cosponsors in the coming days as a result of their advocacy this week.
NCSHA is one of the leading organizations pressing for this bill’s enactment, acting not only as the association representing all state Housing Credit agencies but also in our capacity as co-chair of the ACTION Campaign, a grassroots coalition of more than 2,300 groups unified in support of AHCIA.