Reps. Tiberi, Neal to Introduce Permanent 9 Percent, 4 Percent LIHTC Floor

Thursday, May 22, 2014 - 7:00am

Reps. Pat Tiberi, R-Ohio, and Richard Neal, D-Mass., today introduced a bill that would create a permanent floor for the low-income housing tax credit (LIHTC).The bill would establish a fixed 9 percent LIHTC rate for new rental construction property and a fixed 4 percent LIHTC rate for existing property. The bill would only affect the amount of LIHTCs that a housing finance agency may award a particular development and wouldn’t affect the overall amount of state credit allocations. The text of the legislation and information about cosponsors will be posted to the Affordable Housing Resource Center when it becomes available.

Tune in to next week’s Tax Credit Tuesday podcast to learn more about the bill.