Bipartisan Congressional Group Calls for House Leadership to Prioritize Affordable Housing in COVID-19 Relief Legislation

Friday, July 31, 2020 - 10:00am

A group of 103 members of the House of Representatives, led by Rep. Suzan DelBene, D-Wash., and Rep. Jackie Walorski, R-Ind., today published a letter asking House leadership to prioritize affordable housing measures in the next COVID-19 relief legislation. The letter specifically seeks for a 50 percent increase in the low-income housing tax credit (LIHTC) annual allocation starting in 2021, a minimum 4 percent LIHTC rate, a reduction in the 50 percent test for bond-financed housing and an additional basis boost for properties that are not financially feasible due to COVID-19 or other barriers. Congress is considering a fourth phase of COVID-19 relief.

COVID-19 relief provisions and other affordable housing proposals will be discussed at the Novogradac 2020 Credit and Bond Financing for Affordable Housing Virtual Conference, Oct. 1.