Encouraging news from D.C.! NPH is happy to report that the House passed HR 7024 with a resounding vote of 357 to 70. The bill contains two big priorities from the Affordable Housing Credit Improvement Act (AHCIA) -- restoring the 12.5% increase in annual 9% low-income housing tax credit (LIHTC) allocation for 2023-2025 and, most importantly, a reduction of the 50% test to 30% for 2024-25, potentially freeing up funding for 10,000 more affordable homes in California. What’s Next The bill now must be approved by the Senate. It is possible that the bill will be included as part of the spending bills that are meant to keep the government open, but this would require Senate Republican leadership support. Advocates across the country are reaching out to Senate Republicans to encourage their support. Where You Come In! In the Bay Area, many of our elected representatives have been supportive of these important provisions to support housing, especially Senator Alex Padilla. Senator Butler, however, has not yet signed on in support of the AHCIA or HR 7024. You can reach out to her office and encourage them to sign on with this phone script (Senator Butler's DC Office: (202) 224-3841). If you leave a message, be sure to include your street address and ZIP. |
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