Milestone Reached in Number of AHCIA Cosponsors
A total of 221 members of the House of Representatives have signed on to cosponsor the Affordable Housing Credit Improvement Act, H.R.3077 (AHCIA). This represents a majority of the House of Representatives. The AHCIA seeks to increase housing credit allocation by 50 percent, phased in over five years. It would also lock in the 4 percent LIHTC credit rate for financing with housing bonds and tax credits.
It’s estimated that these changes alone would increase production by an estimated 450,000 homes over the next 10 years. The legislation also includes provisions aimed at making the credit more effective in hard-to-reach rural and Native American communities and for populations like homeless veterans.
The Senate and House versions of the AHCIA are identical.