Today is the last day to sign on to the ACTION Campaign letter to Congress demonstrating your strong support for the Affordable Housing Credit Improvement Act, bipartisan legislation to expand and strengthen the Housing Credit that Senator Maria Cantwell (D-WA) and Senate Finance Committee Chairman Orrin Hatch (R-UT) will reintroduce later this week.
The new legislation will be very similar to the comprehensive version of the legislation introduced in the last Congress, S. 3237, with several minor modifications. This legislation would increase Housing Credit authority by 50 percent, taking a meaningful step towards addressing our nation’s vast and growing affordable housing needs. It would also strengthen the Housing Credit by providing states with additional flexibility, making the financing of affordable housing more predictable and streamlined, facilitating Housing Credit development in challenging markets like rural and Native American communities, increasing the Housing Credit’s ability to serve extremely low-income tenants, and supporting the preservation of existing affordable housing. The legislation also contains important provisions that would support development of rental homes using the Housing Credit coupled with multifamily Housing Bonds, which currently provide critical financing to roughly 40 percent of Housing Credit apartments.
All existing ACTION Campaign members will be included in the letter, so if you are already an ACTION Campaign member you do NOT need to sign on. However, we encourage you to share the letter with your networks to help us show broad support for the Housing Credit. Please note that if your organization signed onto the letter this week, it may not yet be reflected in the list of current campaign members, but will be included before the letter is finalized.
Visit www.rentalhousingaction.org for more information about our efforts to expand, strengthen and protect the Housing Credit.