Tiberi, Neal to Introduce Housing Credit Bill
Earlier today, Representative Pat Tiberi (R-OH) and Representative Richard Neal (D-MA), the Chairman and Ranking Member of the House Ways and Means Committee Subcommittee on Select Revenue Measures, announced the introduction of legislation to establish on a permanent basis the 9 percent and 4 percent acquisition Housing Credit rate floors.
The bill is expected to be similar to legislation they sponsored last Congress, H.R. 3661. Senate Finance Committee member Maria Cantwell (D-WA) has introduced companion legislation in the Senate, S. 1442, which currently has 26 cosponsors.
In their press release, Tiberi and Neal cite support for the legislation from more than 350 national, state, and local organizations, including support from NCSHA. Making permanent the 9 percent and 4 percent acquisition Housing Credit rate floors is one of NCSHA’s 2014 Legislative Priorities.