Disaster Relief Bill Includes LIHTC Provisions
On July 11, a coalition of 15 Republicans and 15 Democrats introduced H.R. 5082. The bill is called the National Disaster Tax Relief Act of 2014. This bill would affect areas declared major disaster areas in 2012, 2013, and 2014. The bill was sent to the House Ways and Means Committee for discussion.
Its assistance measures include increasing the Low-Income Housing Credit allocation for states damaged by a natural disaster, based on the population of qualified disaster areas within the state.