Daniel Hemel in Washington Post: Bill Could Encourage Affordable Housing in Wealthier Neighborhoods

A Surprising Way to Increase Property Values: Build Affordable Housing

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Congress is trying to address the issue of wealthier neighborhoods rejecting the construction of affordable housing with bipartisan legislation that would prohibit states from considering local opposition as a factor in funding developments.  

The bill, sponsored by Senator Maria Cantwell (D-Wash.) and Senate Finance Committee Chairman Orrin G. Hatch (R-Utah), would no longer require state agencies to notify local officials when siting a proposed housing development. The goal is to prevent “Not In My Backyard” opposition from interfering with housing credit allocation.

That could encourage more affordable housing in higher-income, whiter communities, says Daniel Hemel, who teaches tax law at the University of Chicago and wrote a blog post this week highlighting the role affordable-housing tax credits play in integrating neighborhoods.  

Read more at Washington Post