OHC submits comments on House Bill 547, which would require OLIHTC project owners to verify tenant immigration status.

Key points include:

• Tax Credit Stability: The bill’s automatic revocation of OLIHTC for noncompliance could undermine investor confidence, reducing available equity for affordable housing projects.
• Impact on Housing Investment: Uncertainty surrounding compliance could reduce LIHTC equity pricing, limiting funding for affordable housing.
• Housing Supply Concerns: Lower investment would hinder efforts to address Ohio’s housing shortage, affecting legal residents, including seniors and veterans.
• Recommendation: OHC urges the legislature to align noncompliance provisions with federal LIHTC standards to preserve investor confidence and program stability.

OHFA's Letter to Ohio House Economic and Workforce Development Committee