Spring 2016 issue of Horizons

Founded in 1988, AHTCC is a leading trade organization of housing professionals who advocate rental housing financed using the LIHTC. For-profit and non-profit members, including syndicators, investors, lenders, developers, legal and accounting professionals and state allocating agencies, seek to preserve, expand and improve the LIHTC and complementary programs through legislative outreach and education. The ACTION Campaign is a national, grassroots coalition of 1,300 national, state and local organizations and businesses calling on Congress to expand the LIHTC.

The Administration’s new proposal would require state qualified allocation plans (QAPs) to include affirmatively furthering fair housing as an explicit fourth allocation preference. The other five proposals would: ∙ Allow states to increase their LIHTC authority by up to 50% by converting a portion of their private activity bond volume cap into LHTC allocations. ∙ Encourage income-mixing by using an income-averaging rule to determine a project’s compliance with income eligibility guidelines. ∙ Add preservation of federally assisted affordable housing as a selection criterion in state QAPs. ∙ Remove the cap on the number of census tracts that can be designated qualified census tracts (QCTs). ∙ Require protections for victims of domestic abuse in LIHTC housing properties. Although the chances for the enactment of significant tax legislation this year in Congress are unlikely, the AHTCC will be making the case for an agenda that would strengthen the LIHTC, including an increase in the annual LIHTC cap, a permanent 4% LIHTC floor and a number of other more technical improvements to the LIHTC. The AHTCC will work with its LIHTC champions in the House and the Senate on legislation that would include these proposals while also making the case for securing a strong LIHTC program in a reformed Internal Revenue Code. Since its creation 30 years ago, LIHTC has financed nearly 3 million homes across the United States, leveraging more than $100 billion in private investments.

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