Bill Introduced to Include Adjacent Land to QCTs as Eligible for Meet Criteria
A bill introduced last week in the House would amend the Internal Revenue Code to include a provision regarding property located immediately adjacent to qualified census tracts (QCT). House Resolution 4194, introduced by Rep. John Lewis (D-Ga.), would modify Section 42(d)(5)(C)(ii) to allow land contiguous to a QCT, which meets certain criteria of a qualified allocation plan, to be treated as if it were located in a QCT for purposes of the low-income housing tax credit. Click here for more information on QCTs. For a copy of H.R. 4194, click here.