The Buzz: Expanding the section 1602 exchange to 4 percent LIHTCs on bond-financed projects
Date Published: 11/01/2009
Author: Buzz Roberts, LISC Senior Vice President
from the November 2009 issue of Novogradac Journal of Tax Credit Housing.
Earlier this year, when Congress gave states the option to exchange a portion of their low-income housing tax credit (LIHTC) allocation authority for cash under Section 1602 of American Recovery and Reinvestment Act (Recovery Act), the exchange applied only to 9 percent allocated LIHTCs. As Congress considers extending the Section 1602 exchange authority through 2010, it should extend the principle to cover tax-exempt bond-related 4 percent LIHTCs.
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This article first appeared in the November 2009 issue of the Novogradac Journal of Tax Credit Housing and is reproduced here with
the permission of Novogradac & Company LLP.
© Novogradac & Company LLP 2009 - All Rights Reserved.
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Topics: Housing, --Affordable Housing Finance & Development, --Affordable Housing Preservation, Policy, --Housing
Type: Trade Article