NAA/NMHC suggest LIHTC improvements.
In a letter to Congress, NAA/NMHC and other organizations proposed these steps to bolster the LIHTC program:
* Extend the Housing Credit Exchange Program for another year to maintain the development pipeline in 2010. It should also be modified to include the 4 percent housing credits that accompany tax-exempt multifamily housing bonds.
* Increase the carry back from one to five years to stimulate LIHTC investment demand.
* Broaden the investor base by allowing some S corporations, LLCs and closely held C corporations to offset revenue with housing credit tax benefits.
Lawmakers have expressed a desire to pass a legislative package addressing the LIHTC program before the end of the year.
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|Title Annotation:||Political Insider: TCEP Funds|
|Date:||Oct 1, 2009|
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