Representative Chris Gibson (R-NY) recently introduced the Irene and Lee Tax Relief Strom Recovery Act, H.R. 3769, which would increase the amount of Low-Income Housing Tax Credits (LIHTCs) to be allocated in states damaged by Hurricane Irene or Tropical Storm Lee in 2011. According to the legislation, the disaster area would encompass each county covered by a qualifying FEMA natural disaster declaration and any contiguous counties which includes areas in Pennsylvania, New Hampshire, Massachusetts, Connecticut, Vermont, Delaware, District of Columbia, Maryland, Virginia, Louisiana, North Carolina, New Jersey, and New York. As such, regions included would also be designated as difficult-to-develop areas. This bill has been referred to the House Ways and Means Committee.
To view H.R. 3769, click here.
