Will Lawmakers Address the Low Income Housing Tax Credit in the Lame Duck Session?

Filed in Capitol Hill, Multifamily by on November 14, 2018 0 Comments

With the post-election lame duck congressional session expected to last into mid-December, the Republican-controlled Congress still must take care of unfinished business before 2019.

NAHB is focused on the potential that tax legislation will be part of this lame duck session, and we are working with our congressional supporters to press our Low Income Housing Tax Credit priorities. Specifically, we are seeking to make permanent the 4% credit rate for acquisition and bond-financed projects, which would provide more certainty and flexibility in financing these properties.

The major focus of the lame duck session is finalizing fiscal year 2019 appropriations and avoiding a government shutdown.

But House Republicans also are expected to release a package of technical fixes for the Tax Cuts and Jobs Act, which could open up the opportunity to negotiate inclusion of the 4% fixed credit rate proposal. Sens. Maria Cantwell (D-Wash.) and Orrin Hatch (R-Utah) remain highly engaged on the issue.

In the coming weeks, the prognosis for whether additional tax legislation is likely this year will become clearer. NAHB will provide updates as Congress begins working on the lame duck agenda. If there is an opportunity for a tax bill in the coming weeks, we will launch an aggressive grassroots strategy focused on the 4% credit floor.

For more information, contact J.P. Delmore at 800-368-5242 x8412.

 

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