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A measure co-sponsored by Reps. Pat Tiberi (R-OH) and Richard Neal (D-MA) would set a permanent, fixed 9% minimum tax credit rate for new construction and substantial rehabilitation financed in part by low income housing tax credits (LIHTC).
The low-income housing tax credit, a critical ingredient for the successful development of affordable housing, has enjoyed a universal improvement in property performance, according to a survey collecting data from 32 housing tax credit syndicators and three of the nation’s largest affordable housing investors.
The Texas Department of Housing & Community Affairs awards $60.1 million in low income housing tax credits to developers building or renovating 65 affordable rental properties.
Lawmakers are under increasing pressure from an alliance of banks, state government officials and business advocacy groups to move legislation for a permanent extension of a low-income housing tax credit (LIHTC), originally enacted to generate housing construction following the housing market collap...
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