PAB Preserved in Tax Reform Bill
Congressional Republican leaders just released the final tax reform bill. We are very pleased to share that the bill retains both private activity tax-exempt bonds, including single-family (and MCCs) and multifamily Housing Bonds, and the Low Income Housing Tax Credit.
More in-depth review of the bill and its details continues, but we wanted our customers and partners to have this news right away. The House and Senate are expected to vote on the Conference Committee bill with a goal of sending the final legislation to the President for his signature before Christmas.
Many thanks to all who have been a voice of support for tax-exempt PAB. We couldn’t be more pleased that this critical resource will remain available to support affordable housing and community development in Colorado and across the nation.
We will continue to monitor and update on the bill’s progress it enters the next phase in the legislative process. In the interim, we encourage you to contact those members of the Colorado Congressional Delegation with whom you have been actively engaged throughout this process, and thank them for their attention to this matter and for being a voice of support for PAB preservation.
In particular, please thank the following members who have expressed their support for PAB Preservation during this critical juncture by co-sponsoring a PAB preservation amendment (Rep. Polis); signing the Rep. Hultgren PAB Preservation letter to House and Senate Republican Leadership (Rep. Coffman), and articulating support for preservation in the media (Sen. Gardner).