Legislation to expand and improve the low-income housing tax credit (LIHTC) program has been introduced by a bipartisan group of legislators in both the Senate and House of Representatives.

The Affordable Housing Credit Improvement Act of 2023 (AHCIA) includes long-sought changes to the housing credit program, including increasing the amount of available credits in each state and lowering the “50% bond test.”

“Since the Affordable Housing Credit Improvement Act was first introduced in 2016, the affordable housing crisis has only worsened, and the need to take action on affordable housing is urgent,” said Emily Cadik, CEO of the Affordable Housing Tax Credit Coalition. “This important legislation will finance nearly 2 million homes nationwide at a time when rents are skyrocketing, even in many places once considered affordable. We applaud the leadership of the AHCIA’s bipartisan cosponsors and urge Congress to finally enact these bipartisan proposals this year.”

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