Support Letter — House Bill 3, Affordable Housing Tax Credit, to Chair Swearingen (March 20, 2023)
Summary
A letter dated March 20, 2023 to Representative D.J. Swearingen, Chair of the Economic & Workforce Development Committee of the Ohio House, in support of House Bill 3. The OBL describes itself as the foremost trade association for the Ohio banking industry. The letter states that the bill aims to create a state level Affordable Housing Tax Credit to leverage the federal Low-Income Housing Tax Credit (LIHTC) program, and that it would provide approximately 4,300 new units annually. The letter closes with the name Don Boyd, VP, State Government Relations & General Counsel.
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“Support Letter — House Bill 3, Affordable Housing Tax Credit, to Chair Swearingen (March 20, 2023).”
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Representative D.J. Swearingen
Chair, Economic & Workforce Development Committee
Ohio House
77 S. High St., 13th Floor
Columbus, Ohio 43215
Delivered via email: Rep89@ohiohouse.gov
March 20, 2023
The Honorable Chair Swearingen,
The OBL is the foremost trade association for the Ohio banking industry – and is Ohio’s only
organization focused on meeting the needs of all banks and thrifts in the Buckeye State. The
non-profit association is comprised of more than 170 FDIC-insured financial institutions
including commercial banks, savings banks, and savings and loan associations ranging in size
from just over $13 million in assets to more than $3.5 trillion and employing over 60,000
Ohioans.
On behalf of our members, I write to you in support of House Bill 3, a bill that aims to create
a state level Affordable Housing Tax Credit to leverage existing federal Low-Income Housing
Tax Credit (LIHTC) program funds. In Ohio, thousands of affordable housing units have been
developed utilizing the federal LIHTC program.
The banking industry is an integral part of Ohio’s affordable housing development through
investment in, and financing of, affordable housing projects throughout the state. Further,
affordable housing development is a known catalyst of economic growth, job creation, and
tax revenue. Not only will a state level Affordable Housing Tax Credit provide approximately
4,300 new units annually, but it will also create thousands of new jobs, provide additional
housing during a time of great need, and could stimulate economic growth totaling over $3
billion in state, county, and local government tax revenue.
For these reasons, we urge your support of HB 3 to create a state level Affordable Housing
Tax Credit. Please feel free to contact me if you have any questions regarding our position at
dboyd@ohiobankersleague.com or (614) 340-7608.
Sincerely,
Don Boyd
VP, State Government Relations & General Counsel
Direct: (614) 340-7608
Email: dboyd@ohiobankersleague.com
4215 Worth Avenue, Suite 300, Columbus, OH 43219
www.ohiobankersleague.com
614.340.7595 phone 614.340.7596 fax 800.686.6755 toll free
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