SB-007 proposes to extend the state LIHTC program through 2024. It also proposes to rename the program the Colorado Affordable Housing Tax Credit to coincide with renaming efforts at the federal level.

SB-007 has been assigned to the Senate Finance Committee. Affordable housing advocates are encouraged to contact members of the Senate Finance Committee (listed below) in support of SB-007. Please also thank Senate Finance committee member Senator Jack Tate for his sponsorship of this important legislation.

Why the state LIHTC program should be extended:
The program is already helping to stimulate over $1.57 billion in economic impact within just three years of operation.

Since 2015, the state credit has:

  • Generated over $463 million in private sector equity in Colorado;
  • Directly supported the development of 4,263 affordable rental housing units for Colorado’s seniors, workforce, veterans, homeless, and special needs population; and
  • Leveraged $33 million in federal 4% LIHTC that otherwise would be unused.

As Colorado’s housing needs continue to grow, this program is uniquely positioned to help our fellow Coloradans maintain quality of life, business competitiveness, and provide safety and security for our most vulnerable residents.

In the past years, Colorado has enjoyed great bipartisan support for the Housing Credit program. Likewise, this year’s bill is sponsored by Sen. Jack Tate (R) and Sen. Minority Leader Lucia Guzman (D), Speaker of the House Crisanta Duran (D), and Rep. Jon Becker (R).

Click here to sign in support of extending the Colorado Affordable Housing Tax Credit program through 2024.

Colorado Senate Finance Committee Members:
Chair, Senator Tim Neville (R-SD16) Boulder, Denver, Gilpin, Jefferson Counties
tim.neville.senate@state.co.us
303.866.4873

Vice Chair, Senator Jim Smallwood (R-SD4) Douglas County
senatorsmallwood@gmail.com
303.866.4869

Senator Lois Court (D-SD31) Arapahoe and Denver Counties
lois.court.senate@state.co.us
303.866.4861

Senator Cheri Jahn (unaffiliated-SD20) Jefferson County
cheri.jahn.senate@state.co.us
303.866.4856

Senator Jack Tate (R-SD27) Arapahoe County
jack.tate.senate@state.co.us
303.866.4883