NAHRO sent the following message to all members of Congress, their Legislative Directors, and tax Legislative Assistants this morning. As the tax reform debate takes shape, NAHRO will continue to participate in the conversation on Capitol Hill and engage with our industry partners as a steering committee member of the ACTION Campaign.
NAHRO also thanks its members who joined a letter to lawmakers outlining priorities for tax reform. Over 2,100 organizations joined nationwide, including more than 30 NAHRO members. To send a copy of the letter to your members of Congress and support LIHTC in the tax reform debate, visit NAHRO’s Action Center.
Dear Senator/Representative,As you begin your tax reform discussions in earnest, the National Association of Housing and Redevelopment Officials (NAHRO) is pleased to share information with you on the important work local housing and redevelopment agencies do to utilize the Low Income Housing Tax Credit (LIHTC) to preserve and redevelop decent, safe, and affordable housing in communities of quality.We are happy to see that the credit, as well as legislation to improve the utility and effectiveness of LIHTC, are already being considered for inclusion as part of tax reform legislation during the fiscal year 2018. Specifically, the Affordable Housing Credit Improvement Act (S. 548 and HR 1661), which contains reform initiatives that will also responsibly address the nation’s current rental housing crisis.LIHTC is a critical tool that has been used since 1986 to finance affordable housing opportunities for families at 60 percent of area median income. The credit has also been used in combination with other federal resources, including Community Development Block Grants (CDBG) and HOME Investment Partnership program funding to meet the affordable housing needs of the country. Additionally, LIHTC has been crucial to those undertaking HUD’s Rental Assistance Demonstration (RAD), which empowers local housing authorities to refinance existing public housing using a combination of private capital, low income tax credits, and other resources.NAHRO and the ACTION Campaign, of which NAHRO is a Steering Committee member, together thank Congressional leadership and the administration for recognizing the value of LIHTC in the “Unified Framework for Fixing Our Broken Tax Code” and for urging lawmakers to also make the following modifications to modernize our affordable housing delivery system:
- Retain the tax exemption on multifamily Housing Bonds,
- Enact the Affordable Housing Credit Improvement Act (S. 548/H.R. 1661), and
- Make adjustments to LIHTC to ensure its production potential is not negatively impacted by other changes in tax reform.See the ACTION Campaign’s recent letter to Congress and the Administration, and thank you to the more than 30 NAHRO members who have joined these efforts in the past month.ACTION has also put together a fact sheet showing how the Affordable Housing Credit Improvement Act would specifically support the preservation of public housing. See the Senate version here, the House version here, and much more in the ACTION Campaign’s Advocacy Toolkit.Our ability to continue to provide safe, decent affordable housing for vulnerable families relies in large measure on our ability to act expeditiously on tax reform legislation that will assist local housing agencies in their efforts to meet local housing needs.NAHRO and ACTION stand ready to assist you and your staff should you have questions or if we can be of general assistance. Please contact Tess Hembree (email@example.com or 202-5807225).Thank you in advance for your time and consideration!John F. BohmSenior DirectorNAHRO Congressional Relations