Affordable Housing Credit Improvement Act of 2021: Video Series
In this video series, Ayrianne Parks, Senior Director of Public Policy at Enterprise, and Jennifer Schwartz, Director of Tax and Housing Advocacy at NCSHA, provide an overview of each of the provisions in the Affordable Housing Credit Improvement Act (AHCIA) of 2021 (S. 1136 and H.R. 2573).
The bicameral, bipartisan AHCIA of 2021 was reintroduced on April 15 by Senators Maria Cantwell (D-WA), Todd Young (R-IN), Ron Wyden (D-OR), and Rob Portman (R-OH), and Representatives Suzan DelBene (D-WA), Jackie Walorski (R-IN), Don Beyer (D-VA), and Brad Wenstrup (R-OH).
It is comprehensive legislation to expand and strengthen the Housing Credit, our nation’s primary tool for developing and preserving affordable housing, and is estimated to finance an additional two million affordable homes over the next decade, supporting the creation of nearly three million jobs.
- Expanding the 9 Percent Housing Credit (Section 101)
- Lowering the Bond Financing Threshold to 25 Percent (Section 313)
- The 30 Percent Basis Boosts for Native American and Rural Areas (Sections 402 and 501)
- The 50 Percent Basis Boost for Extremely Low-Income Households (Section 307)
- Prohibition of Local Approval and Contribution Requirements (Section 306)
- Housing Credit Compatibility with Energy Tax Incentives (Section 309)
- How the AHCIA Makes the Housing Credit a Better Tool for Preservation (Sections 202 and 303)
- Simplifying the Student Rule (Sections 203)
- Protecting Housing Credit Residents Covered by the Violence Against Women Act (Section 205)
- Ensuring the Housing Credit Can Be Used to Build Housing for Veterans (Section 206)
- Claiming Housing Credits After a Casualty Loss (Section 301)
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- Controlling Development Costs for Housing Credit Properties (Section 312)
- Improving Income Eligibility Rules in Rural Areas (Section 502)
- Limiting Tenant-Based Voucher Payments in Certain Housing Credit Developments (Section 204)
- Simplifying the 10-Year Rule and Related Party Rule (Section 302)
- Addressing QCT and DDA Population Cap Constraints (Section 304)
- Setting Parameters for State-Defined Community Revitalization Plans (Section 305)
- Establishing a State-Determined Basis Boost for 4 Percent Deals (Section 308)
- Preventing Planned Foreclosures (Section 310)
- Adding a QAP Selection Criteria for Housing Serving Native Americans and Native Hawaiians (Section 401)
- Expanding Multifamily Bond Recycling (Section 601)
- Applying the Average Income Test to Bond/4 Percent Credit Developments (Section 201)
Help us build support for the Affordable Housing Credit Improvement Act of 2021 (S. 1136 and H.R. 2573) and join ACTION.