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SENATE APPROVES ADDITIONAL LIHTCS FOR DISASTER RELIEF

Wednesday, September 24, 2008 - 7:30AM

The Senate yesterday approved by a vote of 93-2 a package of disaster relief measures and tax extenders including additional low-income housing tax credit (LIHTC) authority for certain states. The proposal allows states in the Midwestern disaster area to allocate an additional $8 per capita in LIHTCs in 2008, 2009 and 2010. The $150 billion Senate proposal was a substitute to H.R. 6049, which was a version of tax extenders approved by the House earlier this year. The bill will now be returned to the House for consideration.

To follow the progress of this bill in Congress, tune in to the Novogradac Report on Tax Credits, a weekly podcast presented each Tax Credit Tuesday.

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