House Bill Would Raise, Adjust LIHTC Allocation Formulas

The LIHTC would be increased and its allocation formula adjusted under a bill recently introduced in the U.S. House of Representatives. H.R. 6542, the Restoring Tax Credits for Affordable Housing Act, introduced by Representative James E. Clyburn (D-SC) would increase credit amounts and percentages while modifying allocation formulas including the discount rate, effective for calendar years after 2018. Rep. Clyburn also announced that he would be cosponsoring a package of affordable housing bills.