Senate Finance Committee Ranking Member Ron Wyden Releases Affordable Housing Priorities, Including Minimum 4 Percent Housing Credit Rate

Last month, Senate Finance Committee Ranking Member Ron Wyden (D-OR) released an outline of affordable housing priorities he will pursue in the next Covid-19 relief bill. The six priorities are focused on preserving and expanding affordable housing and on supporting Housing Credit properties. Notably, Ranking Member Wyden’s priorities to expand incentives for new production include setting a minimum 4 percent Housing Credit rate and enacting basis boosts for bond-financed projects and developments in rural and Indian areas, which are both provisions of the Affordable Housing Credit Improvement Act (AHCIA) and are included in the ACTION Campaign’s proposals for Covid-19 Housing Credit relief. Also included in the outline is the proposal to correct Qualified Contracts, an Enterprise priority, as introduced in the Save Affordable Housing Act (SAHA). Ranking Member Wyden is a lead co-sponsor of both the AHCIA and the SAHA. Click here to view the outline of priorities.

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