Representative Pat Tiberi (R-OH-12) and Ranking Member of the Ways and Means Committee Richard Neal (D-MA-1) recently introduced the Affordable Housing Credit Improvement Act of 2017 (H.R. 1661), a bipartisan, comprehensive bill to strengthen the Low-Income Housing Tax Credit (Housing Credit). The bill was introduced with 16 other original co-sponsors, 13 of whom are members of the Ways and Means Committee. Since the bill was introduced, several additional members have joined as co-sponsors, putting total co-sponsorship at 15 Republicans and 10 Democrats.
The Tiberi-Neal bill is companion legislation to S. 548, which Senator Maria Cantwell (D-WA) and Senate Finance Committee Chairman Orrin Hatch (R-UT) introduced in the Senate earlier in March. While the House bill does not include the 50 percent cap increase on Housing Credit allocation authority, it does include the roughly two dozen other provisions to strengthen the Housing Credit included in the Senate bill. The ACTION Campaign, a coalition of over 2,000 national, state and local organizations and businesses advocating for the Housing Credit, is circulating a sign-on letter thanking Representatives Tiberi and Neal for introducing the legislation. The ACTION Campaign fully supports the Tiberi-Neal bill and will continue to advocate for an expansion of the Housing Credit in any final tax legislation that advances through Congress.