![The Affordable Housing Tax Credit Coalition [main graphic] A group of developers, syndicators, lenders, nonprofit groups, public agencies, and others concerned with the low-income housing tax credit.](/images/feature_graphics/feature14.jpg?1216325373)
On Monday, February 25, 2008, Senator Maria Cantwell (D-WA) introduced the below-attached Affordable Housing Investment Act of 2008, S. 2666 on behalf of herself and Senators Gordon Smith (R-OR), John Kerry (D-MA), Norm Coleman (R-MN), and Ken Salazar (D-CO). S. 2666 has been commonly referred to as Housing Credit modernization proposals which would allow the Low Income Housing Tax Credit (Housing Credit) program greater flexibility and simplify overly burdensome or out-dated program requirements.
In her opening statement, Senator Cantwell noted that housing is an important issue to many Americans adding that in light of the recent mortgage crisis the need for affordable rental housing should not be forgotten stating “We must not fail to recognize that there are a lot of families that dare not dream of owning their own home; they dream simply of having access to safe, affordable rental housing in our communities.” Cantwell went on to add that the Housing Credit has “become the most successful housing production program in existence.”
The Coalition has been working with other industry groups and Senator Cantwell’s office with respect to this legislation and provided the attached endorsement letter to Senator Cantwell's office on December 6, 2007. Many of the proposals included in the Affordable Housing Investment Act of 2008 where included on the Coalition’s list of legislative priorities including:
The Coalition urges its members to contact their Senators and encourage them to cosponsor this important legislation by contacting Lauren Bazel in Senator Cantwell’s office at 202-224-3441. If you would like assistance in making these contacts or require additional information on your Members, how to contact them, or the legislation, please contact Jim Miller (202-282-5000 or jfmiller@winston.com) or Victoria Spielman (202-282-5349 or info@taxcreditcoalition.org). Similar Housing Credit modernization legislation is expected to be introduced in the House in the very near future.
In addition to the legislative language, an excerpt from yesterday's Congressional Record is attached with Senator Cantwell's opening statement. The Coalition will keep its members up-to-date with respect to the House legislation and cosponsorship pushes as appropriate. If you have questions regarding this legislation please contact Coalition legislative counsel Jim Miller (202-282-5000 or jfmiller@winston.com); or Coalition executive director Victoria Spielman.
