NH&RA joined a letter organized by the ACTION Campaign to congressional leaders, urging the inclusion of crucial LIHTC provisions in any end-of-year legislation. Signed by over 2,500 businesses, nonprofits and public agencies, the letter underscores that expanding production through the LIHTC is essential to tackle the shortage of affordable rental housing and address inflationary impacts, especially for low-income individuals and working families across the country. Specifically, the letter asks Congress to:

  • Expand nine percent LIHTC authority by 50 percent, and at a bare minimum reinstate the 12.5 percent cut the credit suffered this year; and
  • Enhance the use of existing Private Activity Bond authority for rental housing production by lowering the bond financing threshold from 50 percent to 25 percent.

Together, these two actions to increase resources for the LIHTC would finance an additional 1.93 million affordable rental homes over the next ten years, according to projections calculated by Novogradac & Company LLP.