PCHTF 2020 State Policy Agenda
Prioritizing increased funding, expanded programs, and increasing the minimum wage
The State of Iowa plays a role in funding affordable housing in our community, managing federal programs like LIHTC as well as state-funded programs like the State Housing Trust Fund (SHTF). The state also administers several tax credit programs that often support affordable housing development. While a direct appropriation would be preferable due to the volatile tax credit market and questions about long-term sustainability, we support tax credits in the current funding scheme to address our pressing housing needs. The only direct appropriation is for the SHTF, funded through the Rebuild Iowa Infrastructure Fund and the real estate transfer tax. These funds are controlled by the state legislature and appropriated annually.
- PCHTF supports increased funding for the State Housing Trust Fund (SHTF) by removing the $3,000,000 cap on the Real Estate Transfer Tax.
- PCHTF supports changes to the Iowa Finance Authority’s annual Low Income Housing Tax Credit Qualified Allocation Plan (QAP) that support its local policy goals, including incentives for units that serve extremely low income households and for projects located near jobs, schools, and public transportation.
- PCHTF supports the expansion of tax credit programs that support the construction or rehabilitation of affordable housing, including Workforce Housing Tax Credits and Historic Preservation and Cultural & Entertainment District (HPCED) Tax Credits.
- PCHTF supports the establishment of a State Low Income Housing Tax Credit program designed to permit communities and employers to invest in housing specifically suited to their local needs.
- PCHTF supports a homeownership development tax credit that provides additional resources for new construction and rehabilitation of affordable homeownership opportunities.
- PCHTF supports raising the state minimum wage to enhance the resources that working families have to spend on housing costs.
- PCHTF supports the preserving affordability in manufactured homes by protecting against abusive rent and fee practices.
- PCHTF supports the State Legislature funding for the creation of Disaster Recovery Forgivable Loans.