To Paraphrase Griffin Mill: “It’s LIHTC Meets Tenant Based Vouchers”

Published by Michael Novogradac on Monday, July 16, 2012 - 12:00am

The Center on Budget and Policy Priorities has released a proposal for a Renters’ Tax Credit, and the concept brings to mind Griffin Mill (portrayed by Tim Robbins) in the movie, The Player.

Remember Griffin Mill’s quotes, “It’s ‘Out of Africa’ meets ‘Pretty Woman’” or its “‘Ghost’ meets ‘Manchurian Candidate’”? 

Well, the new renters’ tax credit is LIHTC meets tenant based vouchers, or LIHTC meets project based Section 8.

The tax credit would generally be based on the difference between market rent and tenant paid rent, but it would be claimed on the property owner’s tax return. The owner could also have the option to pass the credit through to the property owner’s lender.

So tell me, do you think the combination makes for a better movie?