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U.S. REPRESENTATIVES URGE SUPPORT FOR HURRICANE SANDY TAX RELIEF BILL

Monday, April 15, 2013 - 8:00AM

Today, a group of 32 U.S. representatives sent House Speaker John Boehner a letter urging support for bipartisan tax relief legislation that would aid victims of Hurricane Sandy. Rep. Bill Pascrell Jr., D-N.J., introduced during the 112th Congress the Hurricane Sandy Tax Relief Act of 2012 (H.R. 6683), part of which would have allowed additional allocation of low-income housing tax credit (LIHTC) to states damaged by Hurricane Sandy.  Under the bill, the applicable limitation for additional LIHTCs would have been temporarily increased to the greater of $8 multiplied by the population of the affected area or 50 percent of the state housing credit ceiling for 2013. In addition, Hurricane Sandy disaster areas would be treated as difficult development areas for LIHTC properties placed in service from 2013 through 2015.

Tune in to the April 23 Tax Credit Tuesday podcast to learn more.

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