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SCHUMER BILL ALLOWS MORE MILITARY PERSONNEL TO QUALIFY FOR LIHTC

Friday, December 4, 2009 - 8:00AM

Sen. Charles E. Schumer, D-N.Y., yesterday introduced the Military Families Affordable Homes Act of 2009. Currently, when military personnel apply for low-income housing tax credit (LIHTC) housing, their basic allowance for housing (BAH) is added to their total annual pay for the purposes of calculating income. A 2008 policy passed by Congress in the Housing and Economic Recovery Act (HERA) allows the exception for personnel stationed at nine select installations; Schumer's bill would extend the policy to personnel stationed at any U.S. military installation.

A copy of S. 2827 will be posted online at the Affordable Housing Resource Center as soon as the text becomes available. Tune in to the Tax Credit Tuesday Podcast on December 8 to learn more about this proposal and other LIHTC changes under consideration in Congress.
 

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