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Sen. Blanche Lincoln Introduced S. 2366

Monday, March 6, 2006 - 7:30AM

Sen. Blanche Lincoln, D-Ark., last week introduced S. 2366 the companion bill to H.R. 1468, introduced last year by Rep. Nancy Johnson, R-Conn., which would replace the recapture bond provisions included in the low-income housing tax credit (LIHTC) program. The legislation would repeal the requirement under Section 42(j)(6) of the Internal Revenue Code that requires an investor seeking to dispose of an interest in an LIHTC property within the initial 15-year compliance period to post a surety bond in order to avoid future tax liability, provided the property was reasonably expected to remain a qualified low-income development for the remainder of its compliance period.

Join Novogradac & Company LLP May 10-12 in Chicago, Ill. to discuss the latest legislative and regulatory developments for the LIHTC program with industry experts at the Credit & Bond Financing for Affordable Housing Conference. Other topics will include prospects for preservation and new construction using LIHTCs, low-income housing related programs that face being cut in the 2007 budget and new opportunities for LIHTC and tax-exempt bond professionals.

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