WASHINGTON, DC – Today, U.S. Senator Jacky Rosen (D-NV) announced her support for a bipartisan bill to incentivize housing development and lower costs in Nevada. The bipartisan Affordable Housing Credit Improvement Act would increase the amount of Low Income Housing Tax Credits (LIHTC) allocated to each state by 50 percent for the next two years. The LIHTC program provides tax credits for housing developers that incentivize construction of affordable housing units.
In Nevada, the Low Income Housing Tax Credit has developed or preserved 36,213 homes, supported 59,128 jobs, generated $2.325 billion in tax revenue, and generated $6.698 billion in wages and business income within the state.
“Hardworking Nevada families are being squeezed by high housing costs and a dire shortage of affordable homes,” dijo el Senador Rosen. “That’s why I’m joining this bipartisan bill to incentivize more development of housing Nevadans can actually afford and help lower costs for families. I’ll keep doing everything I can to bring down the prices of buying or renting a home.”
“Senator Rosen’s support for the Affordable Housing Credit Improvement Act is a win for Nevada families,” said Maurice Page, Executive Director of the Nevada Housing Coalition. By championing the expansion of the Low-Income Housing Tax Credit, she’s standing up for working Nevadans and ensuring that more people have access to safe, stable, and affordable homes. Her leadership gives a voice to those too often left out of the conversation.”
“We applaud Senator Rosen for championing the Affordable Housing Credit Improvement Act,” said Wally Swenson, Vice President of Corporate Affairs for Nevada HAND. “This bipartisan legislation will provide the resources Nevada needs to expand access to safe, stable, affordable housing that empowers residents and strengthens communities. Nevada faces one of the most severe affordable housing shortages in the country, and the Low Income Housing Tax Credit is our most effective tool to create and preserve quality affordable homes for low-income seniors, individuals, and families.”
“The Affordable Housing Credit Improvement Act would be a true game-changer for our industry. It strengthens the public-private mechanisms that make attainable housing possible in communities across the country,” said Bill Brewer, Executive Director of Nevada Rural Housing. “This bill has long had strong support, and we’re thrilled to have champions like Senator Rosen helping to build momentum. Her support brings us closer to the traction we need to move this critical legislation forward and expand access to safe, affordable homes for those who need them most.”
Senator Rosen is working to lower housing costs and prevent housing prices from increasing further. Earlier this year, she introduced the Housing Choice Vouchers Fairness Act to update the U.S. Department of Housing and Urban Development’s decades-old Housing Choice Voucher allocation formula so fast-growing cities like Las Vegas can access more of them. Senator Rosen also sent a letter urging the Trump Administration to reverse course on imposing tariffs on Canada and Mexico, which are raising housing construction costs. Additionally, Senator Rosen introduced bipartisan legislation to invest in the construction workforce to be able to build more housing and help lower costs.
###
