Arkansas Senator Introduces Bill to Replace Recapture Bond Provisions of LIHTC Program
Sen. Blanche Lincoln, D-Ark., this week introduced S. 2689, a bill to amend the Internal Revenue Code of 1986 to replace the recapture bond provisions of the low-income housing tax credit (LIHTC) program. Upon introduction, the bill was referred to the Committee on Finance. Sen. Jim Jeffords, I-Vt., also introduced this week S. 2692, the Affordable Housing Preservation Act of 2004, a bill that would provide federal matching grants to states and localities. The measure would allow the proposed grants to be used in coordination with LIHTCs. S. 2692 was co-sponsored by Sens. Paul Sarbanes, D-Md., Lincoln Chaffee, R-R.I., and Dianne Feinstein, D-Calif.