March 13, 2020

Majority of House Cosponsors the Affordable Housing Credit Improvement Act

The majority of the House of Representatives has cosponsored the Affordable Housing Credit Improvement Act, H.R.3077, with a total of 221 members signed on to the bipartisan legislation. The Affordable Housing Credit Improvement Act (AHCIA) would strengthen and expand the Low-Income Housing Tax Credit (Housing Credit), our nation’s most successful tool for building and preserving affordable housing.

The AHCIA was reintroduced in the House in June 2019 by Representatives Suzan DelBene (D-WA-1), Kenny Marchant (R-TX-24), Don Beyer (D-VA-8), and Jackie Walorski (R-IN-2). In the 115th Congress, the AHCIA was cosponsored by more than 40 percent of all members of Congress. This Congress, the AHCIA rapidly garnered bipartisan support and surpassed prior levels of cosponsorship – reflecting a growing consensus that communities nationwide need more affordable housing. The AHCIA has the most bipartisan support of any bill to build more affordable housing this Congress.

A model public-private-partnership, the Housing Credit has financed 3.2 million affordable homes and served 7.4 million low-income households since the program’s inception in 1986. By strengthening and expanding the Housing Credit, the AHCIA would provide for more than half a million additional affordable homes nationwide over the next ten years.

AHCIA has been one of Enterprise’s top policy priorities, so we are especially pleased by the majority support. Enterprise co-chairs the ACTION Campaign alongside the National Council of State Housing Agencies, and has played a lead role in the advancement of the AHCIA. We thank the more than 2,300 national, state, and local organizations that are part of ACTION and have helped secure a record level of bipartisan cosponsors.

“Communities nationwide have been in dire need of more affordable housing for many years now, but we are seeing a new sense of urgency from Congress to address this growing crisis,” said Enterprise Housing Credit Investments President and CEO Scott Hoekman. “Rural, urban, and suburban communities are asking for more federal support, and the Housing Credit is consistently the most successful and critical tool for making possible the production and preservation of affordable housing. We are fortunate to have passionate champions on the Hill to lead this charge, and we hope that Congressional leadership responds to this incredible show of support by enacting the Affordable Housing Credit Improvement Act as quickly as possible.”

Enterprise and the ACTION Campaign call on the remaining Members of Congress to cosponsor the AHCIA, and for Congressional leadership to advance this bill and provide communities with the Housing Credit resources necessary to build and preserve more affordable housing.

We also encourage our partners to help us keep building momentum by joining the ACTION Campaign for free at www.rentalhousingaction.org/join. As a broad, national coalition, the ACTION Campaign’s strength is in its numbers and in the breadth of its representation from communities across the country, so please join today.

See ACTION’s statement on this cosponsorship milestone, that includes quotes from our Congressional champions: http://rentalhousingaction.org/blog

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