New Legislation Includes LIHTC Clarification and Extenders

Kevin Brady (R-TX), Chairman of the House Ways and Means Committee released a year-end tax and oversight package that clarifies the general public use requirement for Housing Credit properties funded with tax-exempt bonds especially for veterans. The legislation is expected to pass the full House later this week. The Senate is likely to consider changes, possibly including provisions from the Affordable Housing Credit Improvement Act (H.R. 1661, S. 548), such as the minimum 4% credit percentage.

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