Legislation Introduced to Permanently Freeze LIHTC Credit Floor
On May 22, Reps. Pat Tiberi, R-Ohio, and Richard Neal, D-Mass., introduced H.R. 4717, a bill that would establish a permanent floor for both the 9 percent and 4 percent Low-Income Housing Tax Credits. The bill would create a fixed 9 percent rate for new rental construction property and a fixed 4 percent rate for existing property. The bill has been referred to the House Committee on Ways and Means and includes 24 co-sponsors.