On Thursday, February 26, 2015 Congressmen Pat Tiberi (R-OH) and Richard Neal (D-MA) introduced legislation which will create a permanent Credit floor for both 9 percent and 4 percent allocated Housing Credits. The bill, H.R. 1142 included 16 bipartisan original cosponsors.
In discussing this important piece of legislation Congressman Tiberi noted “I’ve seen first-hand the benefits of the Low-Income Housing Tax Credit during my visits to low-income housing developments in my district. It’s an effective, successful program and by making a permanent floor on the credit rate, we’re creating certainty for developers to create construction and renovation jobs while increasing housing availability for more low-income families, veterans, seniors, and individuals living with disabilities.” Congressman Neal added “our legislation incentivizes private capital to invest in new affordable housing in our neighborhoods and communities. Additionally, our initiative supports a proven job creating program that puts thousands of Americans to work each year across the country.”
A joint media release notes this legislation is supported by more than 350 national, state, and local organizations and specifically acknowledges the support of the Affordable Housing Tax Credit Coalition.
The bill text and a complete list of cosponsors are linked below.
AHTCC strongly encourages its members to contact their Congressional delegation to express their support for this legislation and to encourage those Members who have not already done so to cosponsor the legislation. Representatives interested in cosponsoring the House bill should contact Whitney Daffner in Congressman Tiberi’s office at 202-225-5355.
If you have questions concerning AHTCC’s legislative efforts in general, please contact Coalition legislative counsel Jim Miller (202-489-3711 or jmiller@taxlegislativesolutions.com) or Coalition legal counsel Rick Goldstein (202-585-8730 or rgoldstein@nixonpeabody.com). Stay up to date on important industry information. Follow us on Twitter, Facebook and LinkedIn.
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