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NYE INTRODUCES LIHTC-MILITARY FAMILY HOUSING BILL

Tuesday, September 22, 2009 - 8:00AM

Rep. Glenn Nye, D-Va., yesterday announced the Military Families Affordable Homes Act of 2009. If passed, the bill would allow enlisted personnel stationed at U.S. military installations to exclude from their annual income their basic allowance for housing (BAH). Military personnel must include their BAH in their total pay when applying for housing funded through the Low-Income Housing Tax Credit (LIHTC) program. In most cases, the additional income puts military families above the LIHTC income limits. A 2008 policy passed by Congress in the Housing and Economic Recovery Act (HERA) allows the exception for personnel stationed at nine select installations; Nye's bill would extend the policy to personnel stationed at any U.S. military installation. Click here to read Congressman Nye's announcement about the bill. A copy of the legislation will be posted online at www.taxcredithousing.com as soon as it becomes available.

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