2019 Legislative Priorities
Housing Partnership Network (HPN) is a business collaborative of leading affordable housing and community development nonprofits. The member-driven organization is comprised of nearly 100 entrepreneurial nonprofits that operate in all 50 states and Washington, DC. HPN members ask Congress to support the following legislation this year.
Affordable Housing Tax Credit Improvement Act
The Low Income Housing Tax Credit (Housing Credit) is the nation’s most successful tool to encourage private investment in the production and preservation of affordable housing. HPN asks Congress to expand and improve the Housing Credit, both the allocated 9% credits and the 4% credits which are financed by private activity bonds. HPN supports the Affordable Housing Credit Improvement Act of 2019 (AHCIA) (S. 1703/H.R. 3077) which would make changes to help the housing credit build and preserve more homes. The AHCIA is S. 1703 in the Senate cosponsored by Senators Maria Cantwell (D-WA), Johnny Isakson (R-GA), Ron Wyden (D-OR) and Todd Young (R-IN) and H.R. 3077 in the House cosponsored by Representatives Suzan DelBene (D-WA), Kenny Marchant (R-TX), Don Beyer (D-VA) and Jackie Walorski (R-IN) in the House.
New Markets Tax Credit Extension Act
The New Markets Tax Credit (NMTC) program stimulates economic activity in some of the nation’s most distressed rural and urban communities by providing a federal tax credit for investments in qualified businesses or economic development projects. This important resource is set to expire at the end of 2019. HPN asks Congress to make the NMTC permanent by passing The New Markets Tax Credit Extension Act of 2019 which is H.R. 1680 in the House cosponsored by Representative Terri Sewell (D-AL) and Representative Tom Reed (R-NY) and S. 750 in the Senate cosponsored by Senator Roy Blunt (R-MO) and Senator Ben Cardin (D-MD).
HUD Appropriations
The Department of Housing and Urban Development (HUD) helps neighborhoods and people across the country with housing assistance and community development resources. HUD an essential partner to HPN members. HPN members urge Congress to continue to invest in HUD and its programs, including the HOME Investment Partnerships Program (HOME), Community Development Block Grants (CDBG) and rental assistance.
CDFI Program Funding
The Community Development Financial Institution (CDFI) Fund administers competitively awarded grant programs that provide loan capital to community development financial institutions (CDFIs). CDFIs serve borrowers and communities the traditional banking sector does not reach. HPN requests $300 million annually for the CDFI Fund.
For more information on any of these or questions about the work HPN members are doing in your communities please contact Shannon Ross, Vice President, Government Relations at [email protected].