FRANK REQUESTS CHANGES TO LIHTC EXCHANGE PROGRAM RULES

Tuesday, June 2, 2009 - 8:00am

Financial Services Committee Chairman Barney Frank, D-Mass., yesterday sent a letter to Treasury Secretary Timothy Geithner requesting modifications to Treasury guidance regarding utilization of the low-income housing tax credit (LIHTC) exchange program under Section 1602 of the American Recovery and Reinvestment Act of 2009. In the letter, Frank asks that the guidance be changed to extend the disbursement deadline, allow state agencies to award the funding as loans, and simplify the recapture provision. Click here to download a copy of the letter.