House Passes Bill to Increase LIHTC Cap

Wednesday, July 26, 2000 - 1:45AM

The U.S. House of Representatives overwhelmingly passed a community renewal bill July 25 that would increase the low-income housing tax credit (LIHC) cap over five years. By a vote of 394-to-27, House lawmakers passed H.R. 4923, by Reps. J.C. Watts (R-Okla.) and Jim Talent (R-Mo.). The legislation would raise the $1.25 LIHC cap by 10 cents a year starting in 2001 until 2004. The proposal would then increase the LIHC cap by 5 cents a year until it reaches $1.75 in 2006, with an index to inflation thereafter. To access H.R. 4923, click here.

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