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Senate Finance Committee Plans to Mark Up Community Renewal Legislation

Tuesday, September 19, 2000 - 1:45AM

The Senate Finance Committee plans to mark up community renewal legislation Sept. 20 that contains a full increase to the low-income housing tax credit and private activity bond caps. Under the bill, the tax credit cap would be increased from the current $1.25 per capita to $1.75 per capita effective Jan. 1, 2001. The tax credit would be indexed to inflation starting in 2002. In addition, the bill would implement a $2 million state tax credit minimum. The state private activity bond cap would be increased from $50 per capita or $150 million minimum per state to $75 per capita or $225 million minimum per state in 2001, with indexation to inflation starting in 2002.

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