Industry Pushing to Extend Minimum 9 Percent Credit Rate, Set 4 Percent Floor for Acquisition Credits

摘要

Housing groups are rallying support for legislation that would make permanent the 9 percent minimum credit rate for low-income housing tax credit projects that aren't bond-financed and to establish a minimum 4 percent rate for acquisition credits. Although the Affordable Rental Housing A.C.T.I.O.N. (A Call to Invest in Our Neighborhoods) campaign, which involves 260 organizations, faces an uphill battle, the groups contend the legislation is needed, according to Peter Lawrence, senior director of public policy and government affairs for Enterprise Community Partners, which is spearheading the campaign. The coalition also is trying to fend off any efforts to eliminate the tax credit program.