House Passes GO Zone Act in Landslide

Friday, December 9, 2005 - 1:45am

This week the House of Representatives passed H.R. 4440, the Gulf Opportunity Zone Act of 2005, by a vote of 415-4. The measure, intended to help in the Gulf Coast recovery efforts, contains a provision to increase low-income housing tax credit (LIHTC) authority for 2006, 2007 and 2008 in Gulf Opportunity (GO) Zones. GO Zones would also be treated as difficult development areas (DDA) and would not count towards the 20 percent nationwide cap on designated DDAs. Click here for a copy of H.R. 4440.