One June 7th, the Housing and Community Development Network of NJ, Monarch Housing Associates along with other partners in NJ, NY and CT began to seek organizational endorsements for a letter thanking our legislators for introducing the legislation and encouraging its quick passage.
Together over the last three weeks we have made significant progress in building support for The Hurricane Sandy Tax Relief Act of 2013.
As of Friday June 28, 2013 at noon, this is what we have achieved together:
The deadline for organizations, business and elected officials to sign-on to the letter has been extended until the end of the day on Tuesday July 2nd. With two days left, please review the list of signers and let’s work together to see if we can add a few more to the list.
Several city councils and freeholder boards will be approving resolutions over the next few months.
Among other things, the legislation would provide an increased disaster allocation of Low-Income Housing Tax Credits (LIHTC) by increasing the per capita rate to $8, providing $250 million in New Markets Tax Credits (NMTC) and providing tax-exempt bonds for Sandy-impacted areas.