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April 3, 2017
Periodical News Brief
Sen. Maria Cantwell, D-Wash., Orrin Hatch, R-Utah, and 11 other U.S. senators introduced March 7 the Affordable Housing Credit Improvement Act of 2017. The legislation would include a 50 percent increase in the annual LIHTC allocation, establish a minimum 4 percent credit rate, allow income-averaging, allow states to grant a 30 percent basis boost if needed for bond-financed developments and several other provisions, including renaming the LIHTC as the “Affordable Housing Tax Credit.” The legislation was expected to be introduced in the House of Representatives. Cantwell’s office also released a report, “Meeting the Challenges of the Growing Affordable Housing Crisis,” which highlighted the impact on affordable housing of the record increase of 9 million renters in the past decade, the relatively low rate of rental housing construction, the removal of 13 percent of affordable housing homes since 2001 and stagnant wages.
January 6, 2016
Blog Article