March 20, 2024

action for state affordable housing tax credit increase

CHFA supports proposed legislation in the 2024 legislative session that would expand the state Affordable Housing Tax Credit (AHTC) and requests your help to ensure this critical piece of legislation is introduced. CHFA is currently authorized to allocate $10 million in annual state credit, yet the program is oversubscribed by a rate of 3:1. This means that viable deals that would otherwise make an impact in Colorado communities facing affordable housing shortages are unable to move forward due to lack of resources. The proposed legislation would increase the state credit authority by $10 million for a total of $20 million through 2031.

Please reach out to Colorado’s House leadership to encourage them to expedite introduction of the state AHTC increase bill sponsored by state Representative Bird, Representative Weinberg, Senator Zenzinger and Senator Simpson. Please share that the state affordable housing tax credit not only deserves consideration this session, but should be at the top of the list for increased investment in light of its:

  • Proven track record of success,
  • Broad-based and bipartisan coalition support among housing, community and business leaders, and
  • Robust development pipeline to meet the housing needs of urban, rural, and rural resort communities

Below is the contact information for House leaders.

Julie McCluskie, Speaker of the House

Monica Duran, Majority Leader

View CHFA’s Fact Sheet on the state AHTC increase for more information. Please contact Jerilynn Francis, CHFA’s Chief Communications and Community Partnerships Officer, or Julia Selby, CHFA’s Legislative Liaison and Policy Analyst, to add your organization's name.