Congressmen Pat Tiberi (R-OH) and Richard Neal (D-MA) recently introduced H.R. 3661, a bill which would permanently extend the flat 9% credit rate and create a flat 4% credit rate for allocated LIHTCs. The bill’s cosponsors are Vern Buchanan (R-FL); Emmanuel Cleaver (D-MO); Joseph Crowley (D-NY), Jim Gerlach (R-PA); Bill Pascrell (D-NJ); Charles Rangel (D-NY); and Lee Terry (R-NE). Senators Maria Cantwell (D-WA) and Olympia Snowe (R-ME) introduced S. 1989, which is the Senate version of the same legislation. The Senate version currently has nine cosponsors including Jeff Bingaman (D-NM); Scott Brown (R-MA); Benjamin Cardin (D-MD); Susan Collins (R-ME); Mike Crapo (R-ID); John Kerry (D-MA); Robert Menendez (D-NJ); Bill Nelson (D-FL); and Bernard Sanders (I-VT).
While this is a significant step forward for the LIHTC community, NH&RA strongly encourages advocates to contact Senators and Congressmen to solicit additional support. Please visit NH&RA’s Advocacy website for more information about how you can get involved.
To view H.R. 3661, click here.
