call to action: senate to vote on 2024 tax bill

The Senate is preparing to vote on a critical tax bill that would expand and enhance affordable housing tax credits and bonds. Among other provisions, the tax bill would:

Reduce the 4% LIHTC bond financing threshold from 50% to 30% for bonds issued prior to 2026; and
Restore the 12.5% increase in annual 9% LIHTC allocation for 2023-2025.

Based on estimates provided by Novogradac, these housing provisions would add an estimated 4,170 new or preserved affordable units in Colorado. The bill passed the House in January with overwhelming bipartisan support but faces uncertainty in the Senate.

Please reach out to Colorado Senators Michael Bennet and John Hickenlooper to urge their vote of support on Thursday for this important bill. Click here for a fact sheet from the ACTION Campaign.

Senator Michael Bennet
202.224.5852
https://www.bennet.senate.gov/contact

Senator John Hickenlooper
202.224.5941
https://www.hickenlooper.senate.gov/contact

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