Senate Finance Committee Ranking Member Wyden Outlines LIHTC Priorities for Next COVID-19 Relief Package

Friday, May 22, 2020 - 12:45pm

Senate Finance Committee Ranking Member Ron Wyden, D-Ore., today released an outline of policies to preserve and expand affordable housing that he will push to have included in the next round of COVID-19 relief legislation–including several provisions related to the low-income housing tax credit (LIHTC). Among the provisions listed as priorities for Wyden are to institute a minimum 4 percent LIHTC floor, provide an increase in 4 percent LIHTCs, expand the number of areas that can receive a 30 percent difficult development area basis boost and to suspend certain compliance deadlines for LIHTC construction affected by the COVID-19 pandemic. Wyden’s proposal includes other priorities, including emergency assistance to help LIHTC tenants stay housed.

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