The Tax Reform Blueprint calls “for making the current-law mortgage interest provision a more effective and efficient incentive.”
To reach a 64 percent/36 percent proportionate allocation of tax subsidies, rental tax subsidies would need to be allocated an additional $350B.
All Housing Credit developments are now underwritten using a floating rate, meaning there is 15 to 20% less equity available for any given property.
The reduction to the MID proposed by Chair Camp would be phased-in over four years, becoming $500,000 in 2018 and would be applied to new mortgages.
Enterprise has put together a comprehensive must read summary of the “2014 Election: Implications for Key Housing and Community Development Policy.”
Both bills include a Housing Credit allocation of $8 per person in the qualifying disaster area and NJ’s allocation would be $70.8M.
The ACTION Campaign and Monarch are pleased that the tax reform draft preserves the LIHTC although it weakens some provisions such as the 4% credit.
Though the likelihood of tax reform is largely diminished, any draft legislation that emerges out of any committee can still pose a threat.
There is a blueprint and we can move forward so that one day none of the men and women who have served our country find themselves without a home.”
To mark the 27th anniversary of the LIHTC, the Bipartisan Policy Center Housing Commission has published 13 commentaries highlighting the federal program’s success factors and lessons learned.