The National Low Income Housing Coalition is urging people to support the president’s housing plan and FY13 budget request, which would provide $1 billion for two bills that increase housing opportunities for low-income households. These bills give support to the Low Income Housing Tax Credits program and the National Housing Trust Fund, both of which act to increase the supply of rental housing for very low and extremely low income households. As part of the request, the Department of the Treasury wants to make four changes to the Low Income Housing Tax Credits program, which include: (courtesy of nlihc.org)
- Allow “income averaging” so properties could serve higher income tenants than is currently allowed if they also house lower income tenants.
- Provide an increase in a LIHTC property’s eligible basis (the amount of tax credits a property can receive) if it meets certain criteria aimed at preserving federally-assisted low income housing.
- Permit Real Estate Investment Trusts that receive LIHTCs to designate as tax exempt some of the dividends they distribute.
- Extend VAWA protections to LIHTC program through provisions in the Long-Term Use Agreement.
Contact your members of Congress by visiting the NLIHC website and entering your zip code or call the Congressional switchboard at 877-210-5351. You may also view co-sponsors of the bills by looking them up here.