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January 23, 2024

call to action: continued push for federal affordable housing tax credit provisions in tax bill

CHFA is happy to share that the latest version of Congress’ proposed 2024 tax bill includes provisions for expanding and enhancing the federal Affordable Housing Tax Credit. The bill passed through the House Ways and Means Committee on Friday with a strong bipartisan vote of 40-3. This is a key step in advancing the legislation. Your advocacy is making a difference in prioritizing affordable housing in the tax bill! Thank you!

These critical provisions would increase the amount of 9% federal Housing Tax Credits available for states to award by 12.5% through 2025 and reduce the 50% “financed by bonds” threshold to 30% for bonds with an issue date before 2026, improving housing affordability across Colorado.

But the bill still has several hurdles to clear before it is passed into law. It may be considered through an expedited process that would require a two-thirds vote in the House. Further, the bill must be passed before the tax filing season begins on January 29. As such your continued outreach to the delegation seeking their support is very important.

Please contact your Members of Congress to ask for their support of the 2024 tax bill.

Below is a list of the Colorado Congressional members and their contact information. Please also thank Affordable Housing Credit Improvement Act co-sponsors: U.S. Senator Michael Bennet, U.S. Senator John Hickenlooper, U.S. Representative Yadira Caraveo (CO-8), U.S. Representative Brittany Pettersen (CO-7), and U.S. Representative Joe Neguse (CO-2).

Representative Diana DeGette (CO-1)

Representative Joe Neguse (CO-2)

Representative Lauren Boebert (CO-3)

Representative Ken Buck (CO-4)

Representative Doug Lamborn (CO-5)

Representative Jason Crow (CO-6)

Representative Brittany Pettersen (CO-7)

Representative Yadira Caraveo (CO-8)

Senator Michael Bennet

Senator John Hickenlooper

Contact Julia Selby, Legislative Liaison and Policy Analyst, for more information.