LIHTC INDUSTRY GROUPS REACH CONSENSUS ON PROPOSALS

Monday, August 3, 2009 - 8:00am

The Housing Advisory Group reports that a group of low-income housing tax credit (LIHTC) industry organizations have agreed on a list of consensus issues to present to key housing proponents on Capitol Hill. The group has finalized a letter that outlines three proposals intended to broaden the LIHTC investor market as well as give states the tools they need to produce housing. The three are: a one-year extension of the exchange program including 4 percent tax credits; a five-year LIHTC carryback with 100 percent reinvestment requirement; and changes in the passive-loss provisions to allow for investment by qualified closely held C corps, sub-S corps and limited liability corporations. The Housing Advisory Group says it will reach out to allies in the Congress and work to include all or some of these proposals in legislation this year. Click here to read the letter.