State Agencies Grapple With Uncertainty About Fixed 9% Credit
By Caitlin Jones
1 min read
Tax Credit Advisor, November 2011: State allocating agencies are taking diverse approaches to addressing the uncertainty about whether Congress will pass legislation extending the “fixed” 9% credit rate for new low-income housing tax credit projects.
Without it, new projects placed in service after 2013 will have to use the prevailing monthly variable credit percentage for the 70% present value (“9%”) housing credit, meaning less equity for developers unless offsetting steps are taken. Read More…
