Cantwell & Hatch Reintroduce Affordable Housing Credit Improvement Act
Senator Maria Cantwell (D-WA) and Senate Finance Committee Chairman Orrin Hatch (R-UT) introduced the Affordable Housing Credit Improvement Act of 2017 (S. 548), a comprehensive bill to expand and strengthen the Low-Income Housing Tax Credit (LIHTC). The bill also has eleven co-sponsors: Senate Finance Committee Ranking Member Ron Wyden (D-OR), as well as Senators Susan Collins (R-ME), Dean Heller (R-NV), Lisa Murkowski (R-AK), Todd Young (R-IN), Charles Schumer (D-NY), Michael Bennet (D-CO), Cory Booker (D-NJ), Patrick Leahy (D-VT), Jeff Merkley (D-OR), and Brian Schatz (D-HI). The Cantwell-Hatch bill includes the provisions from the two bills which they introduced last year (S. 2962 and S. 3237), specifically the 50 percent increase in state Housing Credit allocations; the fixed 4 percent Credit for bond financed transactions and purchases of existing property; as well as additional provisions with technical fixes, policy changes, reforms and program improvements. Read More.