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Wyden, Cantwell Introduce Housing Bill that Includes LIHTC Expansion, Minimum 4 Percent Rate, Expansion of 30 Percent Basis Boost

Posted By Administration, Monday, June 29, 2020

On Friday, U.S. Senators Ron Wyden (D-OR) and Maria Cantwell (D-WA) introduced legislation containing a series of important affordable housing priorities, which are also contained in H.R. 2, the Moving Forward Act, being considered by the House this week. This legislation would expand the 9 percent low-income housing tax credit (LIHTC), set a permanent minimum 4 percent LIHTC rate and expand the use of the 30 percent basis boost for affordable housing properties. 

A detailed summary of the bill is available by clicking here. As mentioned, this legislation contains the same affordable housing provisions included in the Moving Forward Act introduced last week in the House. The House is expected to pass the Moving Forward Act in the coming days. NALHFA sent a letter to the House and Senate detailing important industry priorities as Congress continues to consider COVID-19 relief measures.

 

To read the full statement from NALHFA, please click here.

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