Congress Returns from Recess, AHCIA Continues to Progress Toward Reintroduction
This week, Congress returns from recess and will resume efforts to advance future bipartisan packages and legislation, including the expected Affordable Housing Credit Improvement Act (AHCIA). It is expected for Senator Maria Cantwell (D-WA) and Representative Suzan DelBene (D-WA) to respectively introduce the Senate and House bills with bipartisan original co-sponsors in the month of May. The AHCIA will, once again, include numerous important provisions that will help strengthen the Housing Credit. We expect the centerpiece provisions of the AHCIA to be a cap increase and a minimum 4% Credit Rate for bond-financed properties.
As soon as the AHCIA is reintroduced, ACTION will share an update, including a summary of the bill, and we will call on our partners to sign on to a letter urging Members of Congress to support the advancement of this critical legislation. With the 2020 election likely to draw a lot of focus next year, the 116th Congress is a critical period to secure the much-needed investments in affordable housing that the AHCIA would provide.
House Financial Services Holds Housing Infrastructure Hearing; Chairwoman Waters Introduces Housing Infrastructure Legislation
On Tuesday, April 30, the House Financial Services Committee will hold a hearing, Housing in America: Assessing the Infrastructure Needs of America’s Housing Stock. The ACTION Campaign will be submitting a letter for the record, thanking Chairwoman Waters for her dedication to affordable housing and encouraging the Committee to support the inclusion of provisions of the AHCIA bill in any infrastructure package, given the Housing Credit’s key role in financing affordable housing. The Hearing will focus in large part on House Financial Services Chairwoman Maxine Waters’s (D-CA) recently released draft legislation, titled the Housing Is Infrastructure Act of 2019, which would authorize $92 billion for HUD affordable housing and related programs, including the Public Housing Capital Fund, the Community Development Block Grant (CDBG) program, and the Housing Trust Fund.