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Senate Bill Introduced to Make Permanent LIHTC Floor

Tuesday, May 5, 2015 - 7:00AM

Sens. Maria Cantwell, D-Wash., and Pat Roberts, R-Kan., today introduced a bill that would create a permanent floor for the low-income housing tax credit (LIHTC) . The bill text is identical to H.R. 1142, which was introduced by Reps. Pat Tiberi, R-Ohio, and Richard Neal, D-Mass., Feb. 26. The Improving the Low-Income Housing Tax Credit Rate Act (S. 1193) would establish a minimum 9 percent LIHTC rate for new construction rental property and a minimum 4 percent rate for acquisition LIHTC. The bill would apply to buildings placed in service after Dec. 31, 2014.

Tune in to the May 12 Tax Credit Tuesday podcast to learn more about the bill.

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