Senator Evan Bayh (D-Ind.) has proposed legislation that would make $230 million in funding immediately available to begin work on shovel-ready affordable housing developments in flood-ravaged areas of Indiana. The legislation would clarifiy that disaster housing credits in Indiana, Alabama, Arkansas, Illinois, Iowa, Kansas, Louisiana, Michigan, Missouri, Minnesota, Nebraska, Texas and Wisconsin would be eligible for the Tax Credit Exchange Program. The Disaster State Housing Recovery Act is bipartisan and bicameral. Bayh introduced the legislation with Senator Richard Shelby (R-AL), the ranking Republican on the Senate Banking Committee. The bill is co-sponsored by Senators Richard Lugar (R-IN), Mary Landrieu (D-LA), David Vitter (R-LA), Dick Durbin (D-IL), Kit Bond (R-MO), Tom Harkin (D-IA), Mike Johanns (R-NE), Roger Wicker (R-MS), Thad Cochran (R-MS) and Ben Nelson (D-NE). An identical bill was introduced by Congressmen Artur Davis (D-AL) and Charles Boustany (R-LA), both members of the House Ways and Means Committee. read more…
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