Ask Your Mayor, County Executive, or County Board Chair to Sign Letter to Congress Supporting the Housing Credit! As you know, the Affordable Housing Credit Improvement Act (AHCIA) of 2023, S. 1557 and H.R. 3238, was introduced on May 11. ACTION is partnering with the National League of Cities, the […]
Over 2,600 Organizations Urge Congress to Expand and Strengthen the Housing Credit
Businesses, nonprofits, and public agencies from across the country sign letter to support the Affordable Housing Credit Improvement Act of 2023 On May 31, 2023, ACTION sent a letter to congressional leadership in support of the Affordable Housing Credit Improvement Act of 2023 (AHCIA) signed by over 2,600 organizations, businesses, […]
ACTION Alert: ACTION Submits CRA Comment; Senate Passes Reconciliation Legislation; Treasury to Host SLFRF Webinar Tomorrow
ICYMI: ACTION Submits Comments to OCC, FDIC, and Board on CRA Modernization On Friday, August 5, ACTION Campaign Co-Chairs Enterprise Community Partners and the National Council of State Housing Finance Agencies submitted comments to the Federal Reserve System (Board), the Office of the Comptroller of the Currency (OCC), and the […]
ACTION Alert: Treasury Issues New Guidance to Facilitate Use of State and Local Fiscal Recovery Funds for Affordable Housing Development, Including through Housing Credit
Today, the Treasury Department announced new guidance to increase state, local, and tribal governments’ ability to use Coronavirus State and Local Fiscal Recovery Funds (SLFRF) authorized in the American Rescue Plan Act (ARPA) to support affordable housing development, including through the Housing Credit. The guidance aims to provide additional flexibilities […]
ACTION Alert: Housing Credit Receives Resounding Support in Recent Senate Finance Committee and Ways & Means Committee Hearings
Senate Finance Committee Hearing on the Role of Tax Incentives in Affordable Housing On Wednesday this week, the Senate Finance Committee held a hearing on the critical role that tax incentives play in the development of affordable housing. Specifically, the hearing highlighted how the low supply of affordable homes, inflation, […]
ACTION Commends Administration’s Attention to Housing Credit in White House Housing Supply Action Plan
Yesterday, the White House announced a new Housing Supply Action Plan to increase the supply of affordable housing. The plan makes clear the fundamental and unparalleled role the Housing Credit plays in the development of affordable rental housing. The plan again states the Administration’s strong support for several of ACTION’s […]
ACTION Alert: Historic Investment Included in Senate Finance Committee Build Back Better Legislative Text
On Saturday, December 11, the Senate Finance Committee released bill text, updating the tax section of the Build Back Better Act that passed the House in November. The new Senate text largely mirrors the House version, with historic investments in the Housing Credit, though it includes a couple of changes […]
ACTION Update: IRS Issues Guidance on Application of Permanent, Minimum 4 Percent Rate
Yesterday, the Internal Revenue Service (IRS) issued Revenue Ruling 2021-20 and Revenue Procedure 2021-43 providing guidance on the application of the permanent minimum 4 percent Housing Credit rate established for bond-financed buildings in the Consolidated Appropriations Act of 2021. Check out a recent blog post from ACTION Co-Chair Jennifer Schwartz, director of tax and advocacy at NCSHA, […]
ACTION Celebrates National Native American Heritage Month
November is National Native American Heritage Month. Over the last month, people and organizations around the country have joined together in honoring our nation’s first Americans and their vast contributions to our culture and society. As the ACTION Campaign, our role is to advocate for the strengthening and expansion of […]
ACTION Alert: House Passes Build Back Better Act; Bill Includes Historic Housing Credit Investment
This morning, the House passed the Build Back Better Act, H.R. 5376, by a vote of 220-to-213. The legislation includes the largest expansion of the Housing Credit program since its inception in 1986 and would finance an estimated 811,900 affordable rental homes over 2022-2031, housing nearly 1.9 million low-income people. The almost $12 billion in […]