URGENT: The Oklahoma legislature are once again attempting to repeal our recently passed Oklahoma Affordable Housing Act, the state’s version of the Low Income Housing Tax Credit. Senate Bill 1608 will suspend allocation and REDEMPTION of the Oklahoma Affordable Housing Credit in 2021. That means developments that have already received an allocation, and some that have already been built, would have the ten year credit stream cut off in 2021, making half (or more) of the allocated credits worthless. Please contact your state Representative and Senator and tell them the truth about this bill and urge them to fight against this default of Oklahoma’s commitment to those who would provide housing to our citizens.
SB1608 is scheduled to be heard TODAY by the JCAB Committee.