LIHTC Legislation Introduced

Sen. Maria Cantwell (D-Wash.) this week introduced the Affordable Housing Investment Act that aims to modernize the low-income housing tax credit (LIHTC) program. Cantwell said the bill proposes to remove restrictions that make it difficult to use LIHTCs with other federal programs. The bill also calls for increasing credits for properties in state designated areas, repealing the recapture bond rule, and repealing the 10-year for acquisition credits.