state affordable housing tax credit bill progresses in legislature

CHFA is pleased to report that HB24-1434, which proposes to expand and strengthen the state affordable housing tax credit (AHTC), passed out of the House Finance Committee on Thursday unanimously with bipartisan support! This is a great step forward and we appreciate our coalition’s support and advocacy.

Affordable housing developers, investors, and housing advocates—including Jerilynn Francis, CHFA’s Chief Communications and Community Partnerships Officer—testified in support of HB24-1434. Bill sponsor, Representative Bird, noted that the legislation builds on past successes of the AHTC program, which has directly supported the development of 10,782 affordable units across the state.

HB24-1434 proposes to increase CHFA’s existing $10 million in state AHTC allocation authority by:

$20 million in 2024-2026;
$16 million in 2027-2029; and
$10 million in 2030-2031.

View CHFA’s Fact Sheet on HB24-1434.

It also proposes to strengthen the new tax credit resources by accelerating the rate at which investors may claim the credit, to amplify AHTC’s already significant and positive impacts. The bill will now be heard before the House Appropriations Committee.

Please click here to add your organization to the list of supporters of HB24-1434 to expand and strengthen the state AHTC.

For more information on HB24-1434, please contact Jerilynn Francis, or Julia Selby, CHFA's Legislative Liaison and Policy Analyst.