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December 2022 Monthly Newsletter: Legislative Updates & Other Housing Credit News

Join the ACTION Campaign Monthly Call--NEW DATE: Thurs., Dec. 1!

The ACTION Campaign monthly call will be held at a NEW DATE on Thursday, December 1 at 2:00 PM ET. As a reminder, new Zoom call information was shared in September for calls moving forward, which is included below.

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Legislative Update

The election results are mostly in, and control of both chambers decided. Now begins the sprint to negotiate final legislation for the last several weeks of the 117th Congress, a time post-election often called the lame duck session. Democrats held onto control of the Senate and Republicans won the House, both with slim margins. The fact that neither party will have a substantial majority in the 118th Congress may make it more likely that Congress will have a productive lame duck session, rather than punt important bills into next year.

The Georgia Senate race is still to be determined by a runoff on December 6, which will ultimately impact the makeup of the committees for the next Congress. Votes are still being counted in two House seats as of this writing. House Democratic Leaders Nancy Pelosi, Steny Hoyer, and Jim Clyburn have agreed to step aside from their leadership roles. House Republican Leader Kevin McCarthy won reelection to lead his caucus, as did Senate Republican Leader Mitch McConnell. Committee leadership and composition in both chambers is still being decided.

For Housing Credit advocates, all eyes are on the possibility of a year-end tax package, which would most likely advance with the FY23 omnibus funding bill. ACTION is working with our Congressional and White House champions to convey the urgency to enact our Housing Credit priorities as a part of these year-end legislative actions.

ACTION members should be aware of two important letters that went to Congress over the last week:

  1. First, on November 21, the ACTION Campaign sent a letter to congressional leadership and tax-writing committee leaders, urging Congress expand the Housing Credit in year-end legislation. The letter, which was signed by over 2,500 organizations from across the nation, called on Congress to: (1) Increase Housing Credit resources by 50 percent. At a bare minimum, Congress should reinstate the 12.5 percent increase in Housing Credit authority that expired at the end of 2021, adjusted for inflation; and (2) Lower the Private Activity Bond (PAB) financing threshold from 50 percent to 25 percent to make more efficient use of existing PAB resources and significantly expand rental housing production. Together, these production-related provisions would add an additional 1.93 million new affordable homes over the next decade. (These projections were calculated by ACTION Campaign member Novogradac and are based on lowering the PAB threshold from 50 to 25 percent; restoring the 12.5 percent cut retroactively for 2022 and moving forward as part of the Housing Credit authority baseline; and then phasing in a 50 percent cap increase of (beginning in 2023 with a 25 percent increase and upping that to a 50 percent increase in 2024 and beyond.)
  2. Next, Housing Credit champions Representatives Suzan DelBene (D-WA) and Brad Wenstrup (R-OH) spearheaded a congressional sign-on letter that garnered the support of 54 members of the House of Representatives (including DelBene and Wenstrup), split nearly evenly across party lines. Twenty-one members of the Ways and Means Committee–the House Committee with jurisdiction over tax issues–signed the letter, which advocates for the restoration of the 12.5 percent cap increase and lowering the 50 percent test to 25 percent. The letter went to House Speaker Nancy Pelosi and House Minority Leader Kevin McCarthy.

The next two weeks will be critical for the inclusion of the Housing Credit in any potential final tax package. There are several ways to advocate for our Housing Credit priorities in a year-end tax package:

  • Share the final sign-on letter ACTION sent to Congress and the congressional sign-on letter with your Senators and Representatives and members of your network.
    • If your Senator or Representative is on the House Ways and Means or Senate Finance Committees, ask them to include the Housing Credit as a priority in any tax package that moves forward in the remainder of this Congress, sharing local examples, state or district fact sheets, and other data points to convey the need and sense of urgency to take action.
    • If your Senator or Representative is not on those committees, ask them to contact their respective congressional leadership to convey support for the Housing Credit priorities in the letter and push for legislative action before the end of this Congress.
  • You can also help by building up Affordable Housing Credit Improvement Act (S.1136 / H.R.2573) cosponsorship, in particular with Republicans. While we have strong bipartisan support on both bills, increasing those numbers helps our legislative push if there is a bipartisan year-end tax bill.

If you have questions, need help finding your Members of Congress, or need contact information for their tax staff, please contact Max Brossy at mbrossy@enterprisecommunity.org.

Record Level Group of New Members Join the ACTION Campaign in November!

ACTION is very pleased to have 80 new members join in November–a critical time for us to grow our network and advocacy strength to advance the Housing Credit. Please help us welcome the following new members:

  • A Learning People, Minnesota
  • A Resting Place, NFP, Illinois
  • Abode Communities, California
  • Acorn Housing Services, Minnesota
  • Advent House Ministries, Inc., Michigan
  • Affordable Living for the Aging, California
  • Alarming Truth Ministries, Georgia
  • Alpha Verde Holdings, New York
  • April Housing, California
  • Arizona Housing, Inc., Arizona
  • AURA Development & Advisory, Texas
  • Barker Management, Inc., California
  • BBG Real Estate Services, Texas
  • Brooklyn Community Services (BCS), New York
  • CASH Campaign of Maryland, Maryland
  • Centrant Community Capital, North Carolina
  • Change All Souls Housing Corporation, District of Columbia
  • Charleen B. Dowell Consulting, Texas
  • City of Colorado Springs, Colorado
  • Columbus House, Connecticut
  • Community Development Network of Maryland, Maryland
  • Comprehensive Youth Services, Inc. / The Harbor, Michigan
  • CRP Affordable Housing and Community Development, California
  • DMS Design, LLC, Massachusetts
  • Dominion Real Estate, LLC, Maryland
  • Episcopal Housing Corporation, Maryland
  • Excelerate Housing Group, California
  • FAME-Equality Alliance of Washington, Washington
  • Fenway Community Development Corporation, Massachusetts
  • Florida Behavioral Health Association, Florida
  • Florida Coalition to End Homelessness, Florida
  • Florida Mental Health Advocacy Coalition, Florida
  • Frost Brown Todd, LLC, Kentucky
  • Georgia Supportive Housing Association, Inc., Georgia
  • Govans Ecumenical Development Corporation, Maryland
  • Gracepoint, Florida
  • Great Southern Bank, Minnesota
  • Greystone Affordable Development, North Carolina
  • Helio Health, New York
  • Home Partnership, Maryland
  • Homeless Services Network of Central Florida, Florida
  • IDA, New York
  • Joseph Chris Partners, Texas
  • Katopody, LLC, Texas
  • KD7 Enterprises, Inc., North Carolina
  • The Key Clubhouse of South Florida, Florida
  • Kittle Property Group, Inc., Indiana
  • Legal Council for Health Justice, Illinois
  • Lotus Development Partners, Washington
  • Magnusson Architecture and Planning, New York
  • Marble Cliff Capital, Ohio
  • Mayor, City of Philadelphia, Pennsylvania
  • Mental Health America of West Central Indiana, Inc., Indiana
  • Merchants Capital, Indiana
  • Miami Homes for All, Florida
  • Multifamily Coalition for Affordable Housing, Tennessee
  • North Carolina Coalition to End Homelessness (NCCEH), North Carolina
  • Partners for Rural Washington, Washington
  • Related, New York
  • RPM Development, New Jersey
  • Schreiber Brothers Development, Maryland
  • SHIELDS for Families, California
  • South County Task Force, Virginia
  • Sponsors, Inc., Oregon
  • Standard Communities, District of Columbia
  • STEL, Inc., New York
  • Tatem Consulting, North Carolina
  • The Arc Minnesota, Minnesota
  • The Inner Voice, Inc., Illinois
  • The Supportive Housing Association of NJ, Inc., New Jersey
  • TM Dykes Consulting, Minnesota
  • University Consultation & Treatment Center for Mental Hygiene, Inc., New York
  • Unlimited Property Buyers, LLC, Illinois
  • Upholdings, LLC, Indiana
  • USA Properties Fund, California
  • Waymark, Virginia
  • White Earth Investment Initiative, Minnesota
  • Window & Door Manufacturers Association, District of Columbia
  • Youth and Family Alternatives, Inc., Florida
  • YWCA of Greater Flint, Michigan

Help ACTION continue to grow our advocacy strength by encouraging your networks to join ACTION. Membership is free. You can also help spread the word by following the ACTION Campaign on LinkedIn and Twitter, inviting your connections to join via social media and get information on the latest Housing Credit advocacy. Together, we can demonstrate to Members of Congress the widespread support for the Housing Credit across the country.

AHCIA Cosponsorship Updates

  • Diana Harshbarger (R-TN-01), November 17
  • Dina Titus (D-NV-01), November 17
  • Hank Johnson (D-GA-04), November 17
  • Mike Turner (R-OH-10), November 17
  • Rob Wittman (R-VA-01), November 22

With these five new cosponsors, there are now 198 cosponsors in the House. There were no new cosponsors this month in the Senate.

Housing Credit News Highlights

  • A November 5 article in POLITICO contains a collection of arguments from housing stakeholders, including several ACTION Campaign members, as to why Congress should support the Housing Credit during the lame duck session of Congress and pass the AHCIA.
  • A November 10 article in Affordable Housing Finance provided a recap of early election results and its impact on the Housing Credit and affordable housing policy across the nation in general.
  • A November 11 article in POLITICO mentions that House Ways and Means Chair Richard Neal (D-MA) is supportive of the Housing Credit during the lame duck session.
  • A November 15 article in POLITICO explains that Senate Finance Committee Chair Ron Wyden (D-OR) will be supportive of expanding the Housing Credit next year in the new Congress as well.
  • November 21 editions of POLITICO’s Morning Tax and Weekly Tax newsletters highlighted the sign-on letter ACTION sent to Congress. The identical sections in the newsletters linked to the letter and reiterates House Ways and Means Chair Neal’s support of the Housing Credit.

mbrossy

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