The 4% Housing Tax Credit Fix of 2020

In INSITES this week, we hear from Bill Brauner, CEDAC’s Director of Housing Preservation & Policy. While we await final news from Washington on the Build Back Better legislation that may provide significant funding for many types of affordable housing, Bill highlights a successful change made by legislation just under a year ago. On December 2020, the federal government’s omnibus budget bill included a provision affordable housing advocates have been seeking for a number of years – the 4% housing tax credit fix. This ‘4% fix’ is extremely good news for housing development in our state as it will provide a number of potential benefits and increase the funding from the 4% housing tax credit program by roughly 29% annually. Read INSITES