Sign Up For Novogradac Industry Alert Emails

H.R. 4873 Dear Colleague Letter 

Thursday, July 13, 2006 - 3:30PM

The National Council of State Housing Agencies (NCSHA) reports that Reps. Jim Ramstad, R-Minn, and Richard Neal, D-Mass., last month circulated a Dear Colleague letter seeking support for H.R. 4873, a bill introduced on March 2 to amend the Internal Revenue Code to encourage investment in affordable housing. H.R. 4873 would make several changes to the low-income housing tax credit (LIHTC) program, including renaming it the Affordable Housing Tax Credit, modifying the rules for determining applicable percentage, providing an increase in credit for buildings in state designated areas, modifying the scattered site rule and allowing tax credits for Section 8 moderate rehabilitation developments. H.R. 4873 would also make several changes to the rules governing mortgage revenue bonds and qualified residential rental project exempt facility bonds.

Learn more about Novogradac's expertise and many services