Tax Reform Tag Archives

Novogradac & Company Provides Analysis of Jobs Lost Due to Affordable Housing Provisions in House Tax Reform Legislation

Novogradac & Company has expanded its recent analysis of the  currently drafted H.R. 1, the Tax Cuts and Jobs Act, which would reduce the future supply of affordable rental housing by nearly 1 million rental homes, a loss of as much as two-thirds current affordable rental housing production.

That significant reduction in housing production would also mean the loss of more than a million jobs and billions of dollars in business income and federal, state and local tax revenue across the United StatesClick here to view the full post on Novogradac & Companies website.

Here is how these losses would break down by state:

New Analysis Estimates Repeal of PABs Would Reduce Affordable Housing Production by 75,000 Units Annually

A new analysis conducted by the law firm Norris George & Ostrow, PLLC and shared with a number of Senators and Congressional Representatives finds that the elimination of Private Activity Bonds (PABs) proposed in HR 1 would reduce affordable housing production by as much as 75,000 units per year or about 60% of the nation’s annual affordable housing production. 

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House Tax Reform Bill Eliminates HTC, NMTC; Eliminates Private Activity Bonds

The House Ways and Means Committee has released the full text of its Tax Cuts and Jobs Act. The Committee plans to begin markup on the proposed legislation on November 6, with plans for a House floor vote sometime in mid-November. Several changes within the code would drastically change the landscape of affordable housing and community development.

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Action Campaign Urges Tax Writers to Include LIHTC Provisions in Tax Reform

NH&RA has joined other members of the Affordable Rental Housing ACTION Steering Committee in a letter to the Chairmen and Ranking Members of the Senate Committee on Finance and House Ways & Means Committees urging Congress to include the Affordable Housing Credit Improvement Act of 2017 (S. 548 / HR 1661) in tax reform legislation or any legislation responding to the recent hurricanes and other natural disasters.

Click here to view the 10-30-17 ACTION Letter to Tax Committee Leaders on Inclusion of HC in Tax Reform or Disaster Legislation

LIHTC Champion Rep. Tiberi Announces Departure from Congress

Representative Pat Tiberi (R-OH-12), the lead Republican sponsor on the House version of the Affordable Housing Credit Improvement Act (H.R. 1661) and a longtime champion of the Housing Credit, announced last week that he will leave Congress no later than January 31, 2018, nearly a year before his term ends. NH&RA thanks Rep. Tiberi for his longstanding leadership on affordable housing, and will work with Rep. Tiberi to identify a new lead House Republican champion for the Housing Credit.

Click here to learn more.