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Announcements , Community Development , Federal News

Sandy Tax Relief Bill Introduced in Congress

29 May 2013

On May 23rd, The Sandy Tax Relief Act of 2013, or H.R. 2137 was introduced by Representative Bill Pascrell (D-NJ).

This bill would increase the allocation of Low Income Housing Tax Credits (LIHTC) to $8 per individual, from the current $2.25 per capita in states containing counties that were presidentially declared disaster areas after Super Storm Sandy. The measure would also provide for $250 million in New Markets Tax Credits to make qualified low income community investments within the declared disaster areas.

Read more at the National Low Income Housing Coalition’s Website