chfa enews

April 23, 2024

call to action

Urge House Appropriations Committee to Support HB24-1434 to Strengthen and Expand the State Affordable Housing Tax Credit

CHFA joined by a broad-based coalition of housing, community, and business advocates support HB24-1434 to expand the state Affordable Housing Tax Credit (AHTC) and requests your help to ensure this important bill advances in the legislature. HB24-1434 proposes to increase CHFA’s existing $10 million in state AHTC allocation authority by:

    $20 million in 2024-2026;
    $16 million in 2027-2029; and
    $10 million in 2030-2031.

In addition, the legislation would strengthen the new tax credit resources by accelerating the rate at which investors may claim the credit, further amplifying the impact of AHTC.

Passage of HB24-1434 is critical to ensuring Colorado continues its existing momentum and does not move backwards as gap funds availability face increasing pressure and development costs continue to rise. Without additional AHTC proposed in HB24-1434, viable deals that would otherwise address Colorado’s affordable housing shortage will be unable to move forward due to lack of resources.

HB24-1434 will soon be heard in the House Appropriations Committee. Your voice of support for this legislation is critical to show state lawmakers the widespread approval of this bill across industries.

Please reach out to Colorado’s House leadership and all members of the House Appropriations Committee to urge support for HB24-1434.

Below is the contact information for House leaders and members of the House Appropriations Committee.

Julie McCluskie, Speaker of the House

Monica Duran, Majority Leader

Rose Pugliese, Minority Leader

Emily Sirota, Appropriations Committee Chair

Shannon Bird, Appropriations Committee Vice Chair

Judy Amabile

Andrew Boesenecker

Scott Bottoms

Lisa Frizell

Leslie Herod

Iman Jodeh

Stephanie Luck

Rick Taggart

Elizabeth Velasco

View CHFA’s Fact Sheet on the state AHTC increase for more information. Please contact Jerilynn Francis, CHFA’s Chief Communications and Community Partnerships Officer, or Julia Selby, CHFA’s Legislative Liaison and Policy Analyst, to add your organization's name.

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