Housing and Local Government Committee Approves 6-0 ACR193
On June 6, 2013, the Assembly Housing Committee approved ACR193 which “Memorializes Congress to support efforts to increase allocation of Low Income Housing Tax Credits (LIHTC) and New Market Tax Credits in declared Hurricane Sandy disaster areas.”
H.R. 2137 is sponsored by Congressman Bill Pascrell and co-sponsored by Congressmen Frank LoBiondo and Rodney Frelinghuysen and would increase the housing credit ceiling for New Jersey to $8 per capita, provides $250 million in New Market Tax Credits, and makes other important tax changes to assist in the recovery from Sandy.
In addition to the three NJ congressional sponsors, eight of the co-sponsors are from NJ.