The Honorable Ron Wyden The Honorable Mike Crapo

Enhance and Expand the Low-Income Housing Tax Credit (LIHTC) Program The LIHTC program is the largest and most effective federal program supporting the development and rehabilitation of affordable rental homes. [...] The LIHTC is a market-based incentive helping cover the gap between the cost of developing a property and the income generated from rent. [...] Strengthen the Long-term Affordability Requirements in the LIHTC The LIHTC requires rental homes built under the program remain affordable to residents for at least 30 years. [...] As with affordable rental housing, the gap between the cost of construction and the sales price is often a major barrier impeding increases in the supply of entry-level homes for sale. [...] The credit would help mobilize private investment to finance the construction and rehabilitation of approximately 500,000 homes for lower- and moderate-income homeowners in distressed areas over the next decade.