The National Low Income Housing Coalition (NLIHC) and National Housing Conference (NHC) have compiled helpful summaries of the Federal Stimulus Bill, and how it relates to affordable housing. Please download the attachments to read their respective summaries.

As you know, the affordable housing industry has been providing its input into the crafting of the upcoming Economic Stimulus Bill to ensure that it includes provisions that will aid the continued use of Low Income Housing Tax Credits.  Attached is a letter that CHC sent to key legislators in both the House and Senate.  You may want to use it as a template to craft your own letter to send to your representatives.

The California Housing Consortium has contacted Senators Diane Feinstein, Barbara Boxer, and other California Congressional leaders regarding stimulus proposals for low-income housing. Please review CHC's policy letter by downloading the attachment.

The California Housing Consortium supports the Affordable Housing Tax Credit Coalition's (Coalition) reforms to the Low Income Housing Tax Credit Program. We believe that the reforms proposed by the Coalition will be valuable in restoring demand for Low Incoming Housing Tax Credits (Housing Credit).

Please download the attachment to read CHC's letter of support in full. This letter has been sent to Senators Harry Reid, Diane Feinstein, and Barbara Boxer, as well as California's Congressional Delegation.

UPDATE 8/4/08:  On Thursday, July 31, President Bush signed one of the most important federal housing policies in a generation. A full menu of support for the housing sector includes measures to address the foreclosure and credit crisis, provide new oversight and structural reforms for the GSEs, revise and improve LIHTC regulations, increase bonding capacity, and create a national housing trust fund. For more specifics, please see the 7/231 NY Times article below...
 
Some background on the bill: