LISC supports Bingaman's Low Income Tax Credit Recovery Act
20 Mar 2010
Sen. Jeff Bingaman (D-NM) has introduced the Low Income Housing Tax Credit Recovery Act of 2010, which includes the five-year carryback provision for LIHTCs that NEF has long supported as a way to expand investment activity in a constrained market.
"This bill will attract an additional $5 billion of equity investment for affordable rental housing this year and next, generating $10 billion in construction activity, over 80,000 homes and about 100,000 jobs, especially in the distressed rural and urban communities where they are most needed," said Michael Rubinger, president and CEO of the Local Initiatives Support Corporation (LISC), NEF's parent.
For more information, read the Sen. Bingaman press release
Related Download
> Read the full Low Income Housing Tax Credit Recovery Act Bill (PDF, 34 KB)
Article Type: News