As the Colorado legislature raced to complete its work during this legislative session, on Saturday, April 27 the state Senate passed “Increasing the State Affordable Housing Tax Credit (AHTC),” HB19-1228, on Third Reading, on a 32-2-1 vote. The bill advances to Gov. Jared Polis to await his signature.
That the bill passes so overwhelmingly indicates the strong bipartisan support for the state AHTC program. Support for the effort leveraged public and private partnerships, gaining support for affordable housing development, as well as housing preservation in Colorado.
HB19-1228 was co-sponsored by Rep. Shannon Bird, Rep. Brianna Titone, Sen. Rachel Zenzinger and Sen. Jack Tate. If signed into law, the bill would increase the amount of state Affordable Housing Tax Credits available for annual allocation by CHFA from $5 million to $10 million for 2020-2024.
Some 70 organizations supported the bill, including Colorado Counties Inc., The Colorado Municipal League, Colorado Counties Acting Together (CCAT), Housing Colorado, Habitat for Humanity of Colorado and the Economic Development Council of Colorado.
For a complete list of the organizations that supported HB119-1228, go to www.chfainfo.com/arh/lihtc/Documents/CoalitionList-ahtc-2019.