CHFA eNews: Tax Credit
chfa enews - tax credit 
October 30, 2017

affordable housing credit improvement act call to action

As members of Colorado’s affordable housing community, we urge you to contact the Colorado Congressional Delegation and seek their support and co-sponsorship of the Affordable Housing Credit Improvement Act (H.R. 1661 and S. 548) to strengthen and secure the Low Income Housing Tax Credit programs as part of the tax reform discussions. Please also encourage them to support the preservation of tax-exempt private activity bonds as critical resources for affordable housing and community development.

Congressional action on tax reform is imminent and we encourage you contact the delegation as soon as possible and ask them to communicate their support directly to the leaders of the tax committees: House Ways and Means Committee Chairman Kevin Brady (R-TX) and Ranking Member Richard Neal (D-MA); and Senate Finance Committee Chairman Orrin Hatch (R-UT) and Ranking Member Ron Wyden (D-OR).

Be sure to stress the importance of not only preserving these essential affordable housing programs but also making them even more effective by adopting the changes proposed in the Affordable Housing Credit Improvement Act, including the Senate bill provision to increase Credit authority by 50 percent. Emphasize the strong bipartisan support that both H.R. 1661 and S. 548 have drawn since their introduction just in the spring of this year: 113 House cosponsors; and 21 Senate cosponsors. Call attention to the senior tax committee sponsors: Representative Pat Tiberi (R-OH) and Ranking Member Neal; and Chairman Hatch and Senator Maria Cantwell (D-WA).

The Ways and Means Committee has announced it will release its tax reform legislation on November 1, followed by a mark-up of that legislation in Committee the week of November 6 and floor consideration the week of November 13. The Finance Committee is also finalizing the details of its bill, which it could mark up as early as the week of November 13, followed by floor consideration soon after.

This may be our last opportunity to influence the process before the tax committees report their legislation. It is essential that your voices are heard at this critical juncture. More information about the impact of private activity bonds and low income housing tax credits in Colorado, click here to view our fact sheets.

Thank you for your assistance.

Thank These Members for their Support and Co-sponsorship of the Housing Credit Improvement Act (H.R. 1661 and S. 548)

Senator Michael Bennet (D-CO)
202.224.5852

Rep. Ed Perlmutter (D-7)
202.225.2645

Rep. Jared Polis (D-2)
202.225.2161

Encourage These Members to Support and Co-Sponsor the Affordable Housing Credit Improvement Act

Senator Cory Gardner (R-CO)
202.224.5941

Rep. Ken Buck (D-4)
202.225.4676

Rep. Mike Coffman (D-6)
202.225.7882

Rep. Diana DeGette (D-1)
202.225.4431

Rep. Doug Lamborn (R-5)
202.225.4422
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