House representatives on both sides of the aisle are calling for legislation that would expand one of the nation’s most powerful affordable housing tools.
A bipartisan coalition of representatives called on Congressional leadership to include an expansion of Low-Income Housing Tax Credit (LIHTC) funding in end-of-the-year legislation, according to an article in Housing Finance. The legislation would help increase the number of affordable housing units nationwide during a time of historic supply shortages.
“Led by Reps. Suzan DelBene (D-Calif.) and Brad Wenstrup (R-Ohio), the elected officials are calling on the House leaders to include key provisions from the Affordable Housing Credit Improvement Act (AHCIA) in upcoming legislation,” according to the article.
Those provisions include restoring an LIHTC allocation that expired at the end of 2021 and lowering the “50% test” to 25% to increase LIHTC access.
The article follows closely a press release published by Rep. DelBene on November 28. The press release describes the LIHTC as “our nation’s most effective and successful tool for building and preserving affordable housing.”
Read the full story: Lawmakers Call for LIHTC Expansion to Be Included in Year-End Legislation
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