NAHB Urges Passage of Bi-Partisan Affordable Housing Bill

Posted To: MND NewsWire

The National Association of Home Builders (NAHB) has strongly endorsed passage of a bill, recently introduced into the U.S. Senate which the trade group says would promote the construction of sorely needed rental apartments and help alleviate the nation's affordable housing crisis . The proposed legislation, S.548 tagged as the Affordable Housing Credit Improvement Act of 2017, is sponsored by Senators Sens. Maria Cantwell (D-WA) and Orrin Hatch (R-UT). On the tenant benefit side of the ledger, the bill would amend the Internal Revenue Code, renaming the Low-Income Housing Tax Credit as the "the affordable housing credit " and increasing state allocations for the credit and the cost-of-living adjustments. It also revises the average income test for tenant eligibility requirements, and other...(read more)

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