Address National Severe Rental Housing Shortage
The deadline for signing the letter is Friday, March 11, 2016.
Please join Monarch Housing Associates and help show broad support for the Housing Credit.
The deadline for signing on to the letter is Friday, March 11. If you have any questions or do not wish to sign onto the letter, contact Emily Cadik at before the March 11 deadline.
The ACTION Campaign is a national coalition of over 1,000 organizations and businesses calling on Congress to address our nation’s severe shortage of affordable rental housing by expanding the Low-Income Housing Tax Credit.
As background, on February 9, 2016, the Obama Administration released its FY 2017 budget request, which demonstrated a continued commitment to expanding and strengthening the Housing Credit. The Administration notes that the “agencies in charge of allocating [Housing Credits] are often confronted with a larger number of deserving projects than they can support,” and that expanding the Housing Credit “would allow the development of some projects for which the current supply is insufficient.”
The Administration proposes to:
- Expand the Housing Credit through private activity bond conversion
- Allow income averaging in Housing Credit properties
- Add fair housing as an allocation preference (new proposal)
- Add preservation as a selection criteria
- Remove the QCT population cap
- Protect victims of domestic abuse
Regarding tax reform, though House and Senate leadership remain committed to tax reform, comprehensive tax reform is unlikely to advance until 2017 at the earliest. In the meantime, Congress is seeking to move forward on international tax reform.
Contact Emily Cadik at Enterprise with any questions.