CANTWELL INTRODUCES 5-YEAR LIHTC CARRYBACK BILL
Senator Maria Cantwell, D-Wash., yesterday introduced S. 3326, the Job Creation and Affordable Housing Act. The bill would extend for one-year the Section 1602 low-income housing tax credit (LIHTC) cash grant exchange program and expand the program to include 4 percent LITHCs. S. 3226 would also allow a 5-year carryback of the LIHTC. The measure is co-sponsored by Sens. John Kerry, D-Mass., and Barbara Boxer, D-Calif. Upon introduction, S. 3326 was referred to the Senate Finance Committee.
Tune in to the Tax Credit Tuesday podcast on May 11 to hear more about the proposals and other tax credit legislation.
To learn the latest about working with the Section 1602 LIHTC cash grant program, it’s not too late to register for Novogradac & Company’s affordable housing conference, “Working with LIHTCs in an ARRA World” next week in New Orleans, La.