Rep. Carlos Curbelo (R-FL) is circulating a ‘Dear Colleague’ letter asking his House colleagues to cosponsor the Affordable Housing Credit Improvement Act (H.R. 1661), bipartisan legislation that would strengthen the Low-Income Housing Tax Credit. In the letter, Representative Curbelo notes that the legislation “will make the Housing Credit more flexible, simplify program requirements, support the preservation of existing affordable housing, facilitate Housing Credit development in challenging markets and for hard-to-reach populations, and institute other modifications to make the Credit an even more effective program.”
The legislation serves as the House counterpart to S. 2962 (commonly referred to as the “Cantwell-Hatch” legislation). Rep. Curbelo’s letter goes on to state that over one-third of the House and over two-thirds of the Ways and Means Committee have co-sponsored the measure, with the number of Democrats and Republicans being almost equal.
Congress enacted income averaging, a provision from H.R. 1661, in the March omnibus spending bill. Representative Curbelo now urges Congress to advance the remaining provisions of H.R. 1661 to strengthen the Housing Credit and ensure that the program will be best able to meet today’s affordable housing challenges. The ACTION Campaign urges Housing Credit stakeholders to share this letter with elected officials and ask them to cosponsor H.R. 1661.
