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ACTION Recommendations to Congress for Immediate Housing Credit Accommodations Related to COVID-19

Published on March 19, 2020
ACTION Recommendations to Congress for Immediate Housing Credit Accommodations Related to COVID-19

The ACTION Campaign, which NCSHA co-chairs, released this statement calling on Congress to take immediate action to postpone certain Housing Credit deadlines to prevent developments from losing their tax credits due to the impact of COVID-19. The statement also urges Congress to establish a 4 percent minimum rate for bond-financed developments, as action by the Federal Reserve to reduce interest rates has driven the 4 percent credit rate to a historical low.