The Low Income Housing Tax Credit (Housing Credit) is our nation’s most productive tool for developing and preserving affordable rental housing. Since it was created in 1986, the Housing Credit has helped develop or preserve 3.2 million affordable rental homes, serving 7.4 million low-income households.
LIIF is a member of the ACTION Campaign, a national coalition of advocates supporting the Housing Credit, and the Affordable Housing Tax Credit Coalition (AHTCC), a trade association of Housing Credit advocates. We support the Affordable Housing Credit Improvement Act (H.R. 3077 and S. 1703), bipartisan legislation to expand the Housing Credit by 50 percent and enact numerous other provisions to make a meaningful dent in the shortage of affordable rental homes.
LIIF worked with a coalition of partners to advocate for the creation of the Capital Magnet Fund, a federal grant program aimed at encouraging investment in affordable housing developments. To date, the Capital Magnet Fund has:
- Generated $20 of additional investment for every $1 of award funding;
- Created over 13,000 affordable homes, including more than 11,500 rental housing units and more than 1,500 homeowner-occupied units.
LIIF’s former President and CEO Nancy Andrews testified before the Senate Banking Committee as part of efforts to create the Capital Magnet Fund, and LIIF is now a member of the Capital Magnet Fund Coalition advocating for increased investment in this critical resource.
LIIF advocates for robust funding for affordable housing programs at HUD. We are a member of the Coalition for Housing and Community Development Funding (CHCDF), where we join our partners to urge Congress to fully fund critical housing programs like the HOME Program, Community Development Block Grant (CDBG), Section 8 vouchers, Choice Neighborhoods, and more.
