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.