chfa news

​March 13, 2019

Support HB19-1228 to Increase the state Affordable Housing Tax Credit (AHTC) from $5 to $10 million

On Friday, March 8, state legislation was introduced to increase the amount of state Affordable Housing Tax Credits that CHFA is authorized to allocate annually from $5 million to $10 million. The bill, HB19-1228, is sponsored by State Representative Shannon Bird, Representative Brianna Titone, Senator Jack Tate, and Senator Rachel Zenzinger.

The House Finance Committee will consider the bill at their March 21 meeting. We encourage all affordable housing advocates to contact House Finance committee members to urge their support for HB19-1228. Click here for a committee member list and contact information.

Key Facts:

Since being reauthorized in 2015, the state AHTC program has:

  • Directly supported the development of 4,796 affordable rental units;
  • Leveraged $534 million in new private-sector investment to support affordable housing in Colorado;
  • Supported new affordable housing for the state’s low and moderate-income workforce, seniors, homeless and special needs communities; and
  • Is estimated to generate $1.9 billion in economic impact.

Current demand for state AHTC is out-pacing availability by $4 to $1. Simultaneously, the need for more affordable housing is growing statewide with one out of every four renters being cost-burdened and half of the state’s extremely low-income renters spending more than 50 percent of their gross annual income on housing.

For more information about HB19-1228 and the state Affordable Housing Tax Credit (AHTC) program, click here.

Click here to add your organization to the list of businesses, nonprofits, and community leaders in support of HB19-1228.