The US Congress is the closest it's been to passing the federal Build Back Better Act (BBBA)
$65 billion for the preservation of public housing,
$25 billion for rental assistance,
$15 billion for the national Housing Trust Fund, and key expansions to the Low Income Housing Tax Credit, the BBBA could exponentially improve the resources we have here in California to end homelessness.
The House of Representatives is planning to vote on the BBBA this week, and we’re only 3 votes away from losing out on the largest affordable housing investments the US has seen in generations.
We're asking you to reach out to your Representatives today and follow the steps below:
1. Call the Capitol Operator at: (202) 224-3121
3. Say the following to staff or voicemail:
Hello, I am a constituent calling from [city]. Thank you for your leadership in including historic investments in affordable housing production and preservation in the Build Back Better Act. Now we must ensure that the Build Back Better Act is passed into law.
The Low Income Housing Tax Credit provisions recently included by the House Rules Committee provide California with funding to produce more affordable housing across the state. Californians desperately need this housing now.
Please VOTE YES on the Build Back Better Act. Thank you.
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The Build Back Better Act will help us create a brighter future for all Californians, especially those struggling the most.
We appreciate the work of Speaker Pelosi and Senators Feinstein and Padilla in ensuring the plan includes:
• Lowering the bond threshold test from 50% to 25% for five years, from 2022 to 2026, so that affordable housing developments can use half of the amount of tax-exempt private activity bonds and twice as many can access 4% Low-Income Housing Tax Credits. This is a top priority for NPH and California’s affordable housing community, since access to tax-exempt bonds is the biggest bottleneck to increasing affordable housing production in California.
• Increasing the 9% Low Income Housing Tax Credit program by extending the temporary 12.5% increase from 2018, and increasing the allocation by 10% plus inflation for 2022-2024. We will then go back to work to increase them again before they revert to the 2017 baseline (adjusted for inflation).
• $150B for affordable housing, which includes:
$65B for public housing preservation
$25B for rental assistance
$15B for the National Housing Trust Fund
In solidarity,
The Housing California Team, CHPC & The Sacramento Housing Alliance
