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BILL INTRODUCED TO INCREASE LIHTCs FOR STATES DAMAGED BY HURRICANE IRENE

Wednesday, January 18, 2012 - 8:00AM

Rep. Christopher Gibson, R-N.Y., last week introduced H.R. 3769, the Irene and Lee Tax Relief Storm Recovery Act. The act would increase the amount of low-income housing tax credits (LIHTCs) that may be allocated in states damaged in 2011 by Hurricane Irene or Tropical Storm Lee. Regions included in the Irene-Lee disaster area, which the bill defines as each county covered by a qualifying natural disaster declaration and contiguous counties, would also be designated as difficult development areas under the bill. H.R. 3769 was referred to the Ways and Means Committee.

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