Ways and Means Democrats Introduce Tax Credit Bill
By Caitlin Jones
1 min read
Tax Credit Advisor, April 2011: On March 10, Democratic members of the House Ways and Means Committee introduced a bill containing tax credit and bond provisions. The bill’s fate is unclear, given Republican control of the House and other factors. The bill (H.R. 992) would:
- Extend the Section 1602 low-income housing tax credit exchange program through 2011. Under this, state housing credit agencies could exchange part of their unused housing credit authority for cash grants and award the funds to developers of proposed affordable rental housing projects;
- Allow new market tax credit investments made between March 15, 2010 and January 1, 2012 to offset alternative minimum tax liability;
