call to action: continued push for federal affordable housing tax credit provisions in tax bill

CHFA is happy to share that the latest version of Congress’ proposed 2024 tax bill includes provisions for expanding and enhancing the federal Affordable Housing Tax Credit. The bill passed through the House Ways and Means Committee on Friday with a strong bipartisan vote of 40-3. This is a key step in advancing the legislation. Your advocacy is making a difference in prioritizing affordable housing in the tax bill! Thank you!

These critical provisions would increase the amount of 9% federal Housing Tax Credits available for states to award by 12.5% through 2025 and reduce the 50% “financed by bonds” threshold to 30% for bonds with an issue date before 2026, improving housing affordability across Colorado.

But the bill still has several hurdles to clear before it is passed into law. It may be considered through an expedited process that would require a two-thirds vote in the House. Further, the bill must be passed before the tax filing season begins on January 29. As such your continued outreach to the delegation seeking their support is very important.

Please contact your Members of Congress to ask for their support of the 2024 tax bill.

Below is a list of the Colorado Congressional members and their contact information. Please also thank Affordable Housing Credit Improvement Act co-sponsors: U.S. Senator Michael Bennet, U.S. Senator John Hickenlooper, U.S. Representative Yadira Caraveo (CO-8), U.S. Representative Brittany Pettersen (CO-7), and U.S. Representative Joe Neguse (CO-2).

Representative Diana DeGette (CO-1)
202.225.4431
https://degette.house.gov/contact

Representative Joe Neguse (CO-2)
202.225.2161
https://neguse.house.gov/contact

Representative Lauren Boebert (CO-3)
202.225.4761
https://boebertforms.house.gov/contact

Representative Ken Buck (CO-4)
202.225.4676
https://buck.house.gov/contact

Representative Doug Lamborn (CO-5)
202.225.4422
https://lamborn.house.gov/contact

Representative Jason Crow (CO-6)
202.225.7882
https://crow.house.gov/contact/email-me

Representative Brittany Pettersen (CO-7)
202.225.2645
https://pettersen.house.gov/contact

Representative Yadira Caraveo (CO-8)
202.225.5625
https://caraveo.house.gov/contact

Senator Michael Bennet
202.224.5852
https://www.bennet.senate.gov/contact

Senator John Hickenlooper
202.224.5941
https://www.hickenlooper.senate.gov/contact

Contact Julia Selby, Legislative Liaison and Policy Analyst, for more information.