On April 19, House Republicans released their plan to address the approaching debt limit with the introduction of the Limit, Save, Grow Act of 2023. The legislation would pair a $1.5 trillion debt ceiling increase with a decrease in discretionary spending for Fiscal Year (FY) 2024 to FY22 levels, a decrease of approximately $130 billion. The most likely cuts are to domestic discretionary programs, which have a combined cost around $734 billion in FY23.

The bill also proposes to rescind significant funding and tax incentives for green energy and pollution reduction programs enacted in the Inflation Reduction Act (IRA), including elimination of the Greenhouse Gas Reduction Fund (GGRF). It would also rescind funding for the IRS, undo President Biden’s student loan forgiveness program, rescind unspent COVID-19 recovery funds, and broaden work requirements for both Temporary Assistance for Needy Families (TANF) and food stamps. 

Many in the industry support strong funding levels for critical housing programs and are actively engaged in working to increase resilience for affordable housing, including through green community's work. More information on the benefits of the IRA can be found in our March 6 blog post, as well as details on public comments to the Environmental Protection Agency on the GGRF. House Republican leadership aims to hold a vote on the bill by the end of this month.

The Oklahoma House of Representatives just voted 67-25 to pass HB2040 (Nichols-D) with the amendments as filed and the title still on. CLICK HERE to read the amendment to the amendment. This amendment will increase annual funding to $10 million per year through 12/31/2027 and then funding will revert to $4 million per year through 12/31/2033.

The language for Page 3 Line 21 that prevented refundability or transferability has been amended to read: …”Such taxpayer may assign its interest in the investment, but the tax credit authorized by the provisions of this section shall not be refundable.”

If you would like to see how your Representative voted on this issue, CLICK HERE. Take a moment to thank your legislator for their support, or if they did not support, engage in more dialogue on the importance of affordable housing across the state.

Thank you to all the members who took action this week!

LEGISLATIVE CALL TO ACTION

HB2870 (Wallace-R) will create several new funding sources for the production of housing – both for homeownership and rental – is scheduled to be heard on the House Floor as early as today. Please take a moment to contact your State Representative and request them to VOTE YES on HB2870! CLICK HERE to find your Representative.

REGISTER FOR AFFORDABLE HOUSING DAY, APRIL 17

Register now for the Annual Affordable Housing Advocacy Day at the Capitol on Monday, April 17, from 12:30 – 3:30 p.m. on the 4th Floor Rotunda. Affordable Housing Day provides a key opportunity to meet with your state Senator and Representative directly to educate them on your efforts to provide safe affordable housing in communities across Oklahoma. The Coalition’s goal is to advocate for continued support to develop affordable housing across the state. This day brings together Coalition members, housing advocates, legislators and other stakeholders together to discuss legislative issues affecting affordable housing in Oklahoma. Registration is free for Coalition members. This year, the Coalition will schedule meetings for members to meet with their Legislators. You must register by Wednesday, April 7 in order for Coalition staff to schedule your meeting.
Agenda – Monday, April 17
12:00-12:30 p.m. Registration
12:30-1:00 p.m. Required Advocacy Training
1:00-3:00 p.m. Meetings with Legislators REGISTER NOW!

SPONSOR AFFORDABLE HOUSING DAY

HB2040 (Nichols-D) that will increase funding for the Oklahoma Affordable Housing Act from $4M a year to $10M has been published on the Floor Agenda. It can be heard as early as tomorrow. Take action now! Please contact your State Representative and request they VOTE YES ON HB2040!

CLICK HERE to find your Representative.

HB2870 (Wallace-R) that will create several new funding sources for the production of housing – both for homeownership and rental – is scheduled to be heard on the House Floor as early as tomorrow. Please take a moment to contact your State Representative and request the VOTE YES on HB2870!

CLICK HERE to find your Representative.

Current status of measure(s) you are tracking:

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Note: "S" denotes Senate chamber; "H" denotes House chamber.

For more information on Oklahoma legislation, please visit our web site at http://www.oklegislature.gov.

This week HB2089 will hit the House Floor. This bill will update the zoning and platting laws and is something the Oklahoma Home Builders Association is working to pass. Please take a moment to read this bill to determine if it impacts your business or mission. If so, please take action this week and contact your Representative.

Register now for the Annual Affordable Housing Advocacy Day at the Capitol on Monday, April 17, from 12:30 – 3:30 p.m. on the 4th Floor Rotunda.  Affordable Housing Day provides a key opportunity to meet with your state Senator and Representative directly to educate them on your efforts to provide safe affordable housing in communities across Oklahoma.

At the March 22 Board of Trustees Meeting, OHFA staff is recommending an award of approximately $1 million in additional 9% Tax Credits to those awarded in the 2nd Funding Period of 2022. Due to this being an unforeseeable event that could adversely impact those who applied for 9% Tax Credits in the First Funding Period of 2023, OHFA Staff will recommend that all 9% Tax Credit Applicants for the First Funding Period of 2023 be funded at the May 10, 2023 Board of Trustees Meeting, resulting in approximately $5.5 million in awards.

Approximately $1.2 million of the 2023 9% Tax Credit allocation was awarded at the November 16, 2022 Board of Trustees Meeting. This, in addition to the awards that will be recommended at the Board of Trustees Meetings in March and May, represents approximately $7.7 million of OHFA’s 2023 9% Tax Credit Allocation.

At this time, OHFA does not know what the 2023 total allocation of 9% credits will be but anticipates receiving a lower amount than what was received in 2022. Therefore, because so many credits have either already been awarded or will be recommended for an award before the application deadline for the 2nd Funding Period of 2023, we thought it would be pertinent to let the development community know that there will be fewer credits available for this funding period so they can plan accordingly.

If you have any questions, please contact Darrell Beavers, Housing Development Director at 405 419-8261 or darrell.beavers@ohfa.org.

Join Mental Health Association Oklahoma and The City of Oklahoma in their celebration of the Taylor Ridge Grand Reopening at 10 a.m. on Monday, February 27th!

BE AN INFORMED VOTER

Before you cast your vote, take the time to be informed about who will appear on your ballot. The OKC Chamber contacted each of the candidates and asked questions regarding their thoughts on issues of importance to the Chamber. It’s vital to understand how each candidate will approach the office and their stance on priorities that are important to OKC’s business community.

You can research more about what will appear on your ballot by view a sample ballot using the OK Voter Portal and viewing the list of elections for Oklahoma, Canadian, Cleveland and Pottawatomie counties.

VOTING INFORMATION

Early voting is 8 a.m. to 6 p.m. Feb. 9-10 at your local county election board:

• Oklahoma County Election Board, 4201 N Lincoln Blvd., Oklahoma City, 405-713-1515
• Cleveland County Election Board, 615 E Robinson St., Ste. 200, Norman, 405-366-0210
• Canadian County Election Board, 200 S Bickford Ave., El Reno, 405-422-2422

Regular voting is 7 a.m. to 7 p.m. Feb. 14 at your assigned polling location. Find your polling location on your voter ID card or by using the voter portal at oklahoma.gov/elections/ovp.

EMBARK bus and OKC Streetcar service will be free on Election Day to help get voters to the polls, and you can learn more about their routes by visiting their websites.