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BILL INTRODUCED TO EXTEND LIHTC EXCHANGE PROGRAM

Friday, March 11, 2011 - 4:00PM

Ways & Means Committee Democrats introduced a bill yesterday that would extend the Section 1602 low-income housing tax credit exchange program through 2011. In addition, H.R. 992, the Building American Jobs Act of 2011 would, among other things, extend the Build America Bonds program through 2012, allocate additional Recovery Zone bonds, exempt private activity bonds from the alternative minimum tax (AMT), allow new markets tax credits to be claimed against the AMT and extend Federal Home Loan Banks’ ability to guarantee tax-exempt bonds through 2011. The bill was referred to the House Committee on Ways and Means. Twenty-two organizations sent a letter to the Ways & Means Committee Democrats in support of the legislation.

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