Lawmakers Reintroduce LIHTC Expansion Bill

A bipartisan group of lawmakers have introduced legislation in both houses of Congress to expand the LIHTC program. The Affordable Housing Credit Improvement Act of 2019 was introduced by U.S. Senators Maria Cantwell (D-Wash.), Johnny Isakson (R-Ga.), Ron Wyden (D-Ore.), and Todd Young (R-Ind.), and U.S. Representatives Suzan DelBene (D-Wash.), Kenny Marchant (R-Texas), Don Beyer (D-Va.), and Jackie Walorski (R-In.).

It would increase the amount of LIHTCs allocated to each state by 50 percent over current levels, and expand multifamily housing bond programs, among other steps. The bill is estimated to incentivize the building of over 450,000 affordable homes over the next decade, and generate $48.5 billion in wages and business income, $19.1 billion in additional tax revenue, and 510,000 jobs.