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HOUSE COMMITTEE TO HOLD HEARING ON LIHTC ISSUES IN THE GO ZONE

Tuesday, March 6, 2007 - 7:45AM

Rep. John Lewis, D-Ga., chairman of the House Ways and Means Oversight Subcommittee, today announced his intention to hold a hearing on housing tax issues related to the redevelopment of areas affected by hurricanes Katrina, Rita and Wilma. In response to the extensive damage caused these hurricanes in 2005, Congress provided additional low-income housing tax credits (LIHTCs) and other funding for the states in the Gulf Opportunity (GO) Zone. The subcommittee hearing is expected examine the obstacles to timely and appropriate redevelopment in these areas and discuss possible options for facilitating recovery. For background on some of the obstacles and proposals for facilitating recovery, read Novogradac & Company LLP's Article of the Month and the Washington Wire for March.

These issues will also be the focus of Novogradac & Company LLP’s upcoming GO Zone Forum on May 15-16, 2007 in New Orleans, La.

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