NAHMA Grassroots Alert: Stop tax reform from devastating affordable housing production and preservation
- By: admin
- On: 11/16/2017 07:25:30
- In: NAHMA News
Please call or email your legislators today with this urgent message:
Stop tax reform from devastating affordable housing production
While the House tax reform bill retains the Housing Credit program itself, it would devastate production under the program by eliminating private activity bonds. Please call or email your House Representatives today with this urgent message!
TELL CONGRESS: Preserve the tax exemption on multifamily Housing Bonds
- Over half of LIHTC developments utilize tax-exempt bonds and 4% Housing Credits; eliminating the tax exemption for private activity bonds could reduce annual LIHTC production by up to two-thirds.
- Make adjustments to offset the impact of a lower corporate tax rate on LIHTC investment to ensure that the amount of Housing Credit equity per development is not substantially decreased
- Include bipartisan provisions to strengthen the Housing Credit from the Tiberi-Neal “Affordable Housing Credit Improvement Act” (H.R. 1661)
- Include provisions from the “Access to Affordable Housing Act” (H.R. 4185), which expands the LITHC program by 50% over 10 years.
Save and Expand the Low Income Housing Tax Credit
The A.C.T.I.O.N. Campaign, of which NAHMA is a member, released a statement thanking GOP leadership in the House for recognizing the value of the Housing Credit, but expressing deep concerns about the elimination of private activity bonds and the lack of adjustments to sustain the Housing Credit in light of a significantly lowered corporate tax rate.
TELL CONGRESS: Affordable Housing production is critical for communities and industry
- Urgent Action Needed: Please send this tax reform statement to your Representatives on the House Ways and Means Committee, which released the tax reform bill this week, to let them know that the LIHTC is critical for both the industry and the communities they represent:
- Majority Members: Chairman Kevin Brady (R-TX); Adrian Smith (R-NE); Peter Roskam (R-IL); Jason Smith (R-MO); Jackie Walorski (R-IN); Carlos Curbelo (R-FL); Mike Bishop (R-MI); Dave Reichert (R-WA); Tom Reed (R-NY); Pat Tiberi (R-OH); Mike Kelly (R-PA); Jim Renacci (R-OH); Kristi Noem (R-SD); George Holding (R-NC); Kenny Marchant (R-TX); Pat Meehan (R-PA); Sam Johnson (R-TX); Devin Nunes (R-CA); Vern Buchanan (R-FL); Lynn Jenkins (R-KS); Erik Paulsen (R-MN); Diane Black (R-TN); Tom Rice (R-SC); David Schweikert (R-AZ)
- Minority Members: Ranking Member Richard Neal (D-MA); Danny Davis (D-IL); Lloyd Doggett (D-TX); Terri Sewell (D-AL); Judy Chu (D-CA); John Larson (D-CT); Linda Sanchez (D-CA); Mike Thompson (D-CA); Suzan DelBene (D-WA); Earl Blumenauer (D-OR); Sander Levin (D-MI); John Lewis (D-GA); Ron Kind (D-WI); Bill Pascrell (D-NJ); Joseph Crowley (D-NY); Brian Higgins (D-NY)
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Juliana Bilowich, Government Affairs Coordinator
National Affordable Housing Management Association
400 N. Columbus St., Suite 203, Alexandria, VA 22314
Phone 703-683-8630, ext.116 Email firstname.lastname@example.org, Website www.nahma.org
NAHMA is the leading voice for affordable housing management, advocating on behalf of multifamily property managers and owners whose mission is to provide quality affordable housing.