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Boston & New England  + New England  + Apartments  | 
Affordable housing construction, generic

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:

Sen. Christopher Murphy (D)
Rep. James Himes (D)
Rep. John Larson (D)

Sen. Susan Collins (R)

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)

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.

Inside The Story

Learn More about The Affordable Housing Credit Improvement Act of 2021Read the Full List of Cosponsors

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Policy/Gov't
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