Bipartisan Group Asks House Leadership to Include LIHTC Provisions in Next COVID-19 Bill

Thursday, April 16, 2020 - 1:30PM

Suzan DelBene, D-Wash., and a bipartisan group of three other members of the House of Representatives sent a letter today to House leadership, asking that a minimum 4 percent rate for the low-income housing tax credit (LIHTC) and a decrease in the 50 percent test figure for bond-financed affordable housing properties both be included in the next COVID-19 relief legislative package. DelBene; Rep. Kenny Marchant, R-Texas; Rep. Donald Beyer, D-Va.; and Jackie Walorski, R-Ind.; signed the letter, which was addressed to House Speaker Nancy Pelosi and Minority Leader Kevin McCarthy. The letter highlights rising unemployment and disruptions in the ability to operate, build and preserve affordable housing. The authors reference as precedent the minimum 9 percent LIHTC rate, which was enacted during the Great Recession as part of the Housing and Economic Recovery Act of 2008.

For community development, affordable housing and renewable energy updates related to COVID-19, see Novogradac’s dedicated page.

Learn more about Novogradac's expertise and many services