The Low-Income Housing Tax Credit community continues to score victories in Congress as we seek more resources for affordable housing development to help respond to the nationwide shortage of affordable housing. Most noteworthy in 2020 was the enactment of the minimum 4% tax credit after many years of effort. This will...
The Low-Income Housing Tax Credit community made huge progress during 2019 in our efforts to build support for affordable housing while at the same time working to obtain cosponsors for legislation to expand and strengthen the Housing Credit program. Last June, the Affordable Housing Credit Improvement Act of 2019...
With the election of a new Congress in November, 2018 the state of play in Washington has changed considerably. While Republicans continue to hold the White House and Senate, Democrats have assumed control of the House. This alters the landscape for tax and budget legislation, making it more difficult to move legislation through Congress to enactment.
However,...
As I write this column in late March to assess the last year in federal policy, Congress just reached agreement on an omnibus spending bill to fund federal agencies for the remainder of FY 2018. That legislation provides for a four year, 12.5% increase in the allocation cap for the Housing Credit program, remarkably the only tax provision in the...
For the past seven years, policy discussions around the Housing Credit have mostly revolved around the question of what tax reform would mean for the program since the bipartisan pursuit of lower tax rates for corporations was presumed to also require the elimination of most special deductions and tax credits. Yet, even as that debate persisted in...
Calendar year 2015 was a landmark year for the Low-Income Housing Tax Credit program because we finally were able to achieve enactment of a permanent minimum 9% tax credit rate for allocated housing credits. This success was due to the diligent efforts of a broad coalition of affordable housing advocates across the country, including NASLEF members....
