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Senate Bill Would Clarify Costs for LIHTC Program

Friday, March 15, 2002 - 8:00AM

Senate Bill 2006, introduced by Sen. Bob Graham (D-Fla.) earlier this week, would clarify specific development costs that may be included when calculating the amount of tax credits for which a multifamily project qualifies under the federal low-income housing tax credit (LIHC) program. S.B. 2006 is the companion bill to House Resolution 3324, introduced by Rep. Nancy Johnson (R-Conn.) in November. The measures are intended to specifically identify costs that would be included in eligible basis under the LIHC program, such as state and local impact fees and site preparation costs. For copies of the legislation, click here.

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