Legislative Alert

Many of you know that facing a significant revenue shortfall, members of the Oklahoma State Senate have filed bills aimed at sunsetting, placing a moratorium on, or reducing almost all of the state’s tax credits.

Without sounding too dramatic, the Affordable Housing Tax Credit is under assault. There have been a variety of bills filed that mention the credit specifically. Tomorrow, in the Senate Finance Committee, FOUR of these bills will be heard: SB 977, SB 1137, SB 1376 and SB 1438.

I urge you to take the time this afternoon to call the members of the Senate Finance Committee, as well as your own Senator, and tell them how detrimental it will be to the affordable housing industry to take away the state tax credit – only one year after the credits started to be awarded. Urge them to allow the Tax Credit Incentive Commission to do their work of reviewing the credit before the Legislature makes any changes to it.

Here is a link to the Senate Finance Committee’s agenda: http://www.oksenate.gov/committees.aspx

Here is a link that will take you to the Committee membership roster. If you click on their individual names, you will find their contact information: http://www.oksenate.gov/Committees/standingcommittees.aspx

Please take action now, it is important that we have as many voices coming from the housing industry as possible.

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