Bill Introduced to Bar High-Housing Cost Adjustment for LIHTC AMI Calculation

Monday, November 18, 2019 - 2:00pm

Seven members of the House of Representatives introduced legislation that would bar jurisdictions from using a high-housing-cost adjustment to calculate area median income for low-income housing tax credit properties without approval from the U.S. Department of Housing and Urban Development. The Affordable Housing and Area Median Income Fairness Act of 2019 (H.R. 4984) would also authorize an additional $2.5 billion annually each over 10 years for the National Housing Trust Fund, the HOME Investments Partnership program and the Community Development Block Grant program for areas that had or would have had a high-housing cost adjustment.