Highlights of the four provisions in the groundbreaking Inflation Reduction Act that will benefit affordable multifamily housing.

While continued market uncertainty could cloud the outlook for affordable housing and community development in 2024, Enterprise leaders see reasons for optimism and the potential for significant opportunities. “Despite sustained headwinds over recent years, there are positive signs ahead,” said Scott Hoekman, president of Enterprise Housing Credit Investments. We spoke with Hoekman and other Enterprise capital experts about affordable housing and community development trends this year.

The NMTC is a “place-based” tax credit that drives capital to distressed and low-income Census tracts typically overlooked by traditional investment. Advocates say that making the credit a permanent part of the tax code is the most significant way to realize the full potential of the NMTC program.

Elise Balboni, president of Enterprise Community Partner’s CDFI, discusses the impact of the Community Development Financial Institutions (CDFI) Fund.

Lawmakers have introduced bipartisan legislation that would make the New Markets Tax Credit a permanent part of the tax code, solidifying a program that has supported more than 8,500 business and community-driven projects and created more than a million jobs across the country since it was created in 2000.

Among the top priorities for President Trump: dealing with the expiration of the President’s hallmark tax law passed in 2017, the Tax Cuts and Jobs Act (TCJA). The expiration provides a once-in-a-decade opportunity to move major tax legislation, dubbed the “the Super Bowl of tax” in Washington circles.