On June 15 Senators Richard Shelby (R-Ala.) has introduced legislation to provide relief to states that suffered damage by the series of tornadoes and flooding that have struck the south east. Notably, the bill (S. 1205) would increase the allocation of LIHTCs in Alabama, Arkansas, Georgia, Kentucky, Mississippi, Missouri, North Carolina, Oklahoma and Tennessee through 2013 by $8 per person. It would also increase the states’ tax exempt bond authority available for affordable housing. The measure also makes numerous other changes including special rules for the earned income tax credit, relief for timber producers, relief targeted to homeowners and employees, etc”¦
Co-sponsors include: Senators Roy Blunt (R-Mo.), John Boozman (R-Ark.), Saxby Chambliss (R-Ga.), Kay Hagan (D-N.C.), James Inhofe (R-Okl.), Johnny Isakson (R-Ga.), Claire McCaskill (D-Mo.), Mark Pryor (Ark.), and Jeff Sessions (R-Ala.). The measure has been referred to the Senate Committee on Finance.
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