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REPS. TIBERI AND NEAL URGE SUPPORT OF H.R. 3661

Friday, March 2, 2012 - 8:00AM

Reps. Patrick Tiberi, R-Ohio, and Richard Neal, D-Mass., on February 28 sent a letter to members of Congress urging them to support H.R. 3661. H.R. 3661 would make permanent the fixed floor rate for 9 percent low-income housing tax credits that was enacted as part of the Housing and Economic Recovery Act. The letter says that developers will have to assume an 18 percent reduction in the amount of investor equity that they will be able to access as the 9 percent fixed floor expires. The representatives also describe the cost of the 2008 legislation as minimal.

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