Bipartisan Low Income Housing Tax Credit Legislation Introduced in House and Senate
The House and Senate on April 15 each introduced identical bipartisan bills supported by NAHB that will improve and strengthen the Low-Income Housing Tax Credit.
The Affordable Housing Credit Improvement Act was introduced in the Senate by Sens. Maria Cantwell (D-Wash.), Todd Young (R-Ind.), Ron Wyden (D-Ore.) and Rob Portman (R-Ohio). The House bill was introduced by Reps. Suzan DelBene (D-Wash.), Jackie Walorski (R-Ind.), Don Beyer (D-Va.) and Brad Wenstrup (R-Ohio).
“NAHB commends House and Senate lawmakers for introducing the Affordable Housing Credit Improvement Act, bipartisan legislation that would improve the Low-Income Housing Tax Credit and finance more than 2 million additional multifamily units over the next decade,” said NAHB Chairman Chuck Fowke. “With nearly 11 million renter households severely cost-burdened, the Affordable Housing Credit Improvement Act would greatly enhance our ability to meet the growing demand for more affordable rental units.”