
Bill to Enable Affordable Housing Development Draws New England Cosponsors
More than 13 legislators from the New England region as of October 22, 202, have signed on as cosponsors of The Affordable Housing Credit Improvement Act of 2021:
Connecticut
Sen. Christopher Murphy (D)
Rep. James Himes (D)
Rep. John Larson (D)
Maine
Sen. Susan Collins (R)
Massachusetts
Rep. Jake Auchincloss (D)
Rep. Katherine Clark (D)
Rep. James McGovern (D)
Rep. Ayanna Pressley (D)
Rep. Lori Trahan (D)
New Hampshire
Sen. Margaret Wood Hassan (D)
Rhode Island
Sen. Sheldon Whitehouse (D)
Rep. James Langevin (D)
Vermont
Sen. Patrick Leahy (D)
The legislation (S. 1136/H.R. 2573) expands on the Low Income Housing Tax Credit and encourages the construction of affordable housing developments by:
- Increasing the annual housing credit allocation by 50 percent over the current level;
- Expanding access to housing credits by more efficiently using private activity bond financing;
- Making more developments serving extremely low-income and formerly homeless tenants financially feasible;
- Supporting housing credit developments for veterans and Native Americans;
- Encouraging developments in rural communities and high-opportunity areas;
- Facilitating the revitalization of higher-poverty communities;
- Encouraging states to consider cost reasonableness in their decision-making process;
- Prohibiting local approval and contribution requirements that can prevent developments from moving forward due to NIMBY opposition; and more.
- ◦Policy/Gov't