Representative Carlos Curbelo (R-FL-26) is circulating a ‘Dear Colleague’ letter asking his House colleagues to cosponsor the Affordable Housing Credit Improvement Act (H.R. 1661), the ACTION Campaign-endorsed bipartisan legislation to strengthen the Low-Income Housing Tax Credit (Housing Credit). Curbelo was an original co-sponsor of H.R. 1661 and assumed the role of lead sponsor when former Representative Pat Tiberi (R-OH) left Congress in January.
In the letter, Representative Curbelo argues that the legislation “will make the Housing Credit more flexible, simplify program requirements, support the preservation of existing affordable housing, facilitate Housing Credit development in challenging markets and for hoard-to-reach populations, and institute other modifications to make the Credit an even more effective program.”
Congress enacted a provision from the Affordable Housing Credit Improvement Act that would establish income averaging as a new minimum set-aside option for Housing Credit developments in the March omnibus spending bill. Income averaging will provide additional flexibility to the program, allow for greater income-mixing, and make the program more effective in both urban and rural areas.
Representative Curbelo now urges Congress to advance the remaining provisions of H.R. 1661 to strengthen the Housing Credit and ensure that the program will be best able to meet today’s affordable housing challenges.
ACTION urges all Housing Credit stakeholders to share this Dear Colleague letter with your representatives and ask them to cosponsor the Affordable Housing Credit Improvement Act. Visit our Advocacy Toolkit for resources to contact your member of Congress and advocate for the Housing Credit.