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BILL INTRODUCED TO AMEND LIHTC FULL-TIME STUDENT HOUSEHOLD REQUIREMENTS

Wednesday, October 4, 2006 - 7:30AM

Sen. Rick Santorum, R-Pa., last week introduced a bill to amend the Internal Revenue Code's requirements regarding the low-income housing tax credit (LIHTC) to specify that minor children in grades K-12 should not count toward the determination of what is a full-time student household. S. 3941 also strikes the requirement that single parents and their children must not have been claimed as dependents of another individual to qualify for the single parent with children exemption, and it adds a new exemption for working adults who are full-time students pursuing a high school diploma or GED. Click here for a copy of Santorum's floor statement introducing the bill.

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