Representative Pat Tiberi (R-OH-12) and Ways and Means Committee Ranking Member Richard Neal (D-MA-1) recently introduced the Affordable Housing Credit Improvement Act (H.R. 1661), bipartisan legislation to strengthen the Housing Credit.
The Tiberi-Neal legislation is the House companion to S. 548, introduced by Senator Maria Cantwell (D-WA) and Senate Finance Committee Chairman Orrin Hatch (R-UT) earlier in March. While the Tiberi-Neal bill does not include the 50 percent cap increase on Housing Credit allocation authority included in the Senate bill, it does include the roughly two dozen other provisions to strengthen the Housing Credit. This includes strengthening the Housing Credit by providing states with additional flexibility, making the financing of affordable housing more predictable and streamlined, facilitating Housing Credit development in challenging markets like rural and Native American communities, increasing the Housing Credit’s ability to serve extremely low-income tenants, and supporting the preservation of existing affordable housing. See our bill summary for a full list of provisions in H.R. 1661.
The ACTION Campaign will be submitting a letter to Congress demonstrating our strong support for the Affordable Housing Credit Improvement Act.
All existing ACTION Campaign members will be included in the letter, so if you are already an ACTION Campaign member you do NOT need to sign on. However, we encourage you to share the letter with your networks to help us show broad support for the Housing Credit.
If you have any questions or wish to remove your organization from the letter, contact Emily Cadik at email@example.com by the April 7 deadline.