Federal News
Senators Introduce Affordable Housing Legislation in Virginia
March 13, 2026
Senators Mark R. Warner, Todd Young, Maria Cantwell, and colleagues have introduced bipartisan legislation aimed at expanding affordable housing through enhancements to the Low-Income Housing Tax Credit (LIHTC) and incentives for new construction and preservation of rural housing in Virginia. The Affordable Housing Credit Improvement Act seeks to build nearly 1.6 million affordable homes over the next decade by increasing tax credits, stabilizing financing, and supporting vulnerable populations. These legislative efforts signal potential shifts in federal housing finance and investment priorities that could impact procurement strategies for affordable housing developers, financiers, and related service providers.
- Why this matters: The expansion and strengthening of LIHTC represents a significant federal policy initiative to increase affordable housing supply, which may lead to increased demand for construction, development, and financing services in Virginia and nationwide.
- Procurement professionals should anticipate new opportunities arising from increased federal incentives and potential funding flows to affordable housing projects.
- Organizations involved in rural housing preservation and urban affordable housing development should evaluate how these legislative changes could affect project eligibility and financing structures.
- Contractors and vendors supporting affordable housing construction and rehabilitation may see increased contract opportunities as the legislation aims to boost housing supply and protect existing stock.
In communities across the Commonwealth, both rural and urban, too many families are struggling to find safe, affordable housing. This crisis needs an all-hands-on-deck solution, and thatβs why I am proud to continue to look for innovative solutions to help tackle this problem. These bipartisan bills offer commonsense solutions to help boost our housing supply by both protecting our current stock and supporting new investment.
— Sen. Mark R. Warner
The overwhelming bipartisan support for the Affordable Housing Credit Improvement Act of 2025 underscores the critical need to increase the supply of affordable rental homes. We thank Senator Todd Young, Senator Maria Cantwell, Senator Marsha Blackburn, and Senator Ron Wyden for their leadership and the 30 bipartisan cosponsors for supporting this commonsense solution to expand and strengthen the Low-Income Housing Tax Credit, a proven, pro-growth tool with a nearly 40-year record of leveraging private investment to fill a critical need.
— Emily Cadik, CEO of Affordable Housing Tax Credit Coalition
Agencies
United States Senate, United States House of Representatives, Fannie Mae, Freddie Mac
Locations
Sources
- Warner Unveils Latest Legislation in Push to Make Housing More Affordable for Virginians - Press Releases - Mark R. Warner · Warner Senate · Mar 13
- Warner Introduces Legislation to Make It Easier to Build Affordable Housing in Rural Areas - Press Releases - Mark R. Warner · Warner Senate · Mar 13
- Warner, Colleagues Introduce Legislation to Address Housing Affordability Crisis - Press Releases - Mark R. Warner · Warner Senate · Mar 13