Spring 2016 issue of Horizons

REAL ESTATE

Low Income Housing Tax Credit: Legislative Update by Bryan Keller, CPA, CGMA & Amy Broadwater, CPA

L ast January, the Affordable Housing Tax Credit Coalition (AHTCC) held its annual meeting in San Antonio. During the meetings, the AHTCC board of directors worked to shape and prioritize its legislative agenda for 2016. In addition to several panel sessions, video- conferencing sessions with Capitol Hill and a keynote address by San Antonio Mayor, Ivy Taylor, were a few of the highlights of the two-day meeting. During the meeting, the AHTCC board named Tony Alfieri, RBC Capital Markets as its President and Michael Gaber, WNC, Inc. as First Vice President and head of the Legislative Committee. The AHTCC’s number one legislative priority is the expansion of the Low Income Housing Tax Credit (LIHTC) as endorsed by our congressional “credit champions.”

In San Antonio, the board decided on a proactive strategy that focuses on the solution for the demand and need for affordable housing. Such a solution includes a 50% cap increase, in addition to the permanent 4% LIHTC floor, as well as a few technical changes that will help make the LIHTC more efficient. Last year, AHTCC had over 325 calls or face-to-face meetings that centered on both education and advocacy, primarily around the 9% and 4% fixed floor legislation. Given the aggressive agenda, coupled with the possibility of tax reform as early as 2017, we will need even more calls, visits, meetings and site visits with congressional staff and membership. This is a national, state and local issue, and we encourage everyone to get involved and advocate for a stronger LIHTC!

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