Report: Bush Jobs and Growth Package Would Cut 40,000 LIHTC Apartments

Wednesday, February 26, 2003 - 1:45AM

Thirty-five percent fewer low-income housing tax credit (LIHTC) apartments - 40,000 fewer apartments serving about 100,000 residents - would be produced annually if the dividend exclusion proposal included in President George W. Bush's Jobs and Growth Package were enacted as proposed, according to a new study by Ernst & Young and commissioned by the National Council of State Housing Agencies (NCSHA). "The Impact of the Dividend Exclusion Proposal on the Production of Affordable Housing" was released yesterday and NCSHA says the study objectively documents the unintended adverse impact the proposed dividend tax exclusion would have on the production of affordable rental housing in the U.S. For a copy of the study, as well as a letter sent from NCSHA to U.S. Treasury Secretary John Snow, and other relevant materials, click here.

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