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NAA/NMHC suggest LIHTC improvements.

NAA/NMHC are working with a broad coalition of organizations to seek legislation to address the severe loss of investor capital in the Low-Income Housing Tax Credit (LIHTC) program.

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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