Sign Up For Novogradac Industry Alert Emails

SENATORS INTRODUCE INCREASE OF LIHTCS FOR DISASTER AREAS

Thursday, June 16, 2011 - 8:00AM

Senators from states that suffered from damage caused by spring tornados and flooding  yesterday introduced the Southeastern Disaster Tax Relief Act of 2011 (S. 1205). S. 1205 would, among other things, increase to $8 per person per year the amount of low-income housing tax credits (LIHTCs) allocated to Alabama, Arkansas, Georgia, Kentucky, Mississippi, Missouri, North Carolina, Oklahoma and Tennessee through 2013. S. 1205 would also increase the states’ amount of tax-exempt bond authority available for affordable rental housing. The text of the Southeastern Disaster Tax Relief Act and a summary of its provisions can be found at the Affordable Housing Resource Center.

Learn more about Novogradac's expertise and many services