The Affordable Housing Credit Improvement Act

摘要

A bipartisan bill that would, among other things, increase the Low Income Housing Tax Credit (LIHTC) volume cap by 50 percent and make the 4 percent tax credit rate permanent was recently introduced by Senator Maria Cantwell and Senator Orrin Hatch. The Affordable Housing Credit Improvement Act, or S. 2962, would expand the current LIHTC program. The expanded LIHTC program under S. 2962 is expected to create or preserve over a million affordable homes nation-wide over a period of the next 10 years, and would allow for a 400,000 unit increase nationwide, which would be otherwise impossible to achieve under the terms and conditions found in the current LIHTC program. This expansion of the LIHTC program would be phased in by 10 percent per year over the next five years. As access to affordable housing is an important concern in the United States, an expansion of the LIHTC program may help address this significant issue.