Legislation Would Exempt PABs Used to Preserve Public Housing from State Bond Volume Cap
A bipartisan group of House of Representatives members introduced legislation this week that would allow private activity bonds (PABs) used to finance the preservation of public housing and other federally assisted buildings to be exempt from the state’s volume cap. The Support Allowing Volume Exception (SAVE) for Federally Assisted Housing Act (H.R. 8533) was introduced by Rep. Katherine Clark, D-Mass., Gil Cisneros, D-Calif., and Kenny Marchant, R-Texas. The legislation is intended to address the nation’s approximately $70 billion in critical preservation and recapitalization needs for public housing.
This and other affordable housing issues will be discussed at the Novogradac 2020 Tax Credit Housing Finance Virtual Conference, Dec. 3-4.