Thanks to CHAPA for taking the lead on this organizational sign-on letter in support of increasing the Low Income Housing Tax Credit, a critical tool for affordable housing production.
Sign on your organization HERE by Friday, September 22, 12 noon. Let’s get Western MA counted!
Background info:
In June, the Senate passed a tax relief package that includes an increase to the state’s Income Housing Tax Credit (LIHTC), a top priority for CHAPA. The Senate proposal increases authorization for LIHTC by $20 million to a total of $60 million annually and removes the sunsetting of the program, making funding for LIHTC permanent with the authorization of $60 million per year.
The final version of the tax relief bill is being negotiated by a conference committee tasked with reconciling differences between the House and Senate proposals. LIHTC was not included in the House bill and advocacy is needed to include funding for LIHTC in the final version of the Legislature’s tax relief legislation.
Please sign your organization to CHAPA’s letter to the conference committee, urging them to include the Senate’s LIHTC language in their final report.
The Massachusetts Low Income Housing Tax Credit (LIHTC) program is a critical tool that brings together public and private investment to finance the production and preservation of affordable housing across Massachusetts. Since its creation in 1999, the state LIHTC has successfully supported the production of nearly 25,147 homes, including 21,547 affordable apartments and 4,000 market-rate rentals. Increasing the state LIHTC will make it possible to create more of the affordable homes people need.
