​March 27, 2017

house introduces affordable housing credit improvement act of 2017 

Last week, senior Ways and Means Committee member Pat Tiberi (R-OH) and Committee Ranking Member Richard Neal (D-MA) introduced the Affordable Housing Credit Improvement Act of 2017 H.R. 1661. This is the companion legislation to the Cantwell-Hatch Senate AHCI bill introduced earlier this month.

The House version of the bill is largely similar to the Senate version. Click here for a section-by-section summary. Most significantly, the House bill includes provisions that would fix the 4 percent rate for bond-financed units and provides states the authority to give a 30 percent basis boost to those units. The House version, however, does not include the 50 percent phased in cap increase for the 9 percent program, which is proposed in the Senate version. 

Source: NCSHA.org