ACTION Campaign Letter from 2,400 Organizations Calls for Increase in LIHTC Allocation Authority
A group representing more than 2,400 public and private organizations involved in affordable housing–including Novogradac–sent on Monday an open letter to Congress calling for an increase in low-income housing tax credit (LIHTC) allocation authority. The letter from the A Call to Invest in Our Neighborhoods (ACTION) Campaign called on Congress to expand LIHTC authority by 50% (or at least reinstate the 12.5% increase to LIHTC authority) and to lower the financed-by bond financing threshold for affordable housing from 50% to 25%. The letter called for those moves to be made before the end of 2022.
Hear more about efforts to expand and enhance the LIHTC at the Novogradac 2022 Tax Credit Housing Finance Conference, Dec. 1-2 in Las Vegas.