The Florida Housing Coalition is advocating to include The Affordable Housing Credit Improvement Act in the next tax legislation that the U.S. Congress advances. Both versions of the legislation include a fixed 4% credit and the Senate version (S. 548) includes a 50 percent increase in Housing Credit resources.
Our most immediate focus is the omnibus Fiscal Year (FY) 2018 spending legislation which is being negotiated right now and which must pass by March 23rd.
What Can You Do?
Reach out to members of the Florida Congressional delegation NOW. On the House side is outreach to Congressman Vern Buchanan and Congressman Carlos Curbelo. Outreach to Senator Nelson is also critical at this time, with the ask that they weigh in with Senator Schumer that including S. 548 in the omnibus should be a priority.
Affordable Housing Credit Improvement Act Talking Points – March 2018
- Thank you for preserving the Low-Income Housing Tax Credit program (Housing Credit) and private activity bonds in the Tax Cuts and Jobs Act.
- Certain provisions the Tax Cuts and Jobs Act will significantly decrease private investment in the Housing Credit, resulting in less housing production and job creation. It is estimated that nationwide 235,000 affordable homes will be lost as a result over the next decade.
- Florida currently has over 700,000 cost-burdened, low-income rental households in need of affordable housing.
- Now that Congress has reaffirmed the Housing Credit’s role in the tax code, we ask that you advocate with leadership for including the provisions of the Affordable Housing Credit Improvement Act of 2017 (H.R. 1661 and S. 548) in any upcoming tax or budget legislation.House Members: We also urge you to ask Chairman Brady and Speaker Ryan to adopt the 50 percent increase in Housing Credit resources from the Senate companion bill (Cantwell-Hatch S. 548) in any omnibus spending bill.
Senators: Please contact Senator Schumer to indicate that S. 548 should be a priority in the omnibus spending bill.