Housing Organizations Urge Tax Reform Panel to Protect Tax Credit, Bond Programs

摘要

The President's Advisory Panel on Tax Reform should avoid making any recommendations for changes in the tax code that would adversely affect the low-income housing tax credit, New Markets tax credit, and tax-exempt bond programs, according to comments submitted by housing organizations. "In developing its recommendations, the panel should not look at the tax code in isolation. Instead, the panel should consider the overall impact of certain reform proposals, including unintended consequences, on important federal programs such as the low-income housing tax credit program," said the Affordable Housing Tax Credit Coalition (AHTCC). The National Council of State Housing Agencies (NCSHA) said that the panel should recommend preservation of the housing tax credit and bond programs in any tax reform proposals it develops. The two organizations said that the tax credit program has been critical to producing affordable rental housing, while AHTCC also pointed out that the credit has helped to recapitalize existing housing that can be used for special needs tenants and has helped to revitalize deteriorating inner-city neighborhoods.