Both bills include a Housing Credit allocation of $8 per person in the qualifying disaster area and NJ’s allocation would be $70.8M.
On July 11, 2014, Rep. Tom Reed and Bill Pascrell filed H.R. 5082, the House Disaster Tax Relief Bill which would provide a LIHTC allocation of $8.
The measure would provide a LIHTC allocation of the greater of $8 per individual in the disaster areas or 50% of the state’s LIHTC ceiling.
If you did not sign last year, please join in the effort to extend NMTC by signing on this year and encourage other NMTC supporters to sign on as well.
The Middlesex County Board of Freeholders unanimously approved a resolution supporting HR 2137, the Hurricane Sandy Tax Relief Act, which provide an increased disaster allocation of LIHTC.