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NAHB Report Says Relief From Impact Fee TAMs May Come This Year

Friday, September 13, 2002 - 7:00AM

Legislative relief from a series of Internal Revenue Service (IRS) technical advice memoranda (TAMs), which found that impact fees are not includable in low-income housing tax credit (LIHTC) eligible basis, may still be possible this year, according to a report from the National Association of Home Builders (NAHB). Sen. Bob Graham (D-Fla.) may attach S.2006 to a small business tax bill in the Senate Finance Committee. For cost reasons, however, the measure could be implemented for one year only, requiring additional legislation to make it permanent next year. S. 2006 would ensure that developers of affordable housing under the low-income housing tax credit program could categorize impact fees as indirect costs and add them to eligible basis.

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