House Committee Approves Bill Calling for Period Reviews of Properties with LIHTC
The House Financial Services Committee this week approved H.R. 3995, The Housing Affordability for America Act, introduced earlier this year by Rep. Marge Roukema (R-N.J.), chairwoman of the subcommittee on housing and community opportunity. Among the bill’s provisions is one that would call for periodic reviews of affordable housing rental properties that have been allocated low-income housing tax credits (LIHCs). Reviews would be required at least once every four years or more often as required under the regulations. Click here for the most recent version of H.R. 3995.