LIHTC Provisions Included in Amended “Build Back Better” Draft

WASHINGTON November 3^rd, 2021 –  Today the U.S. House of Representatives released an amended version of the “Build Back Better Act” that would boost LIHTC. Several proposals were originally part of the Affordable Housing Credit Improvement Act that many affordable housing advocates have worked hard on for the last several years: Here’s a synopsis:

• Lowering the 50% test bond financing threshold to 25 percent for five years, from 2022 – 2026;
• A Housing Credit allocation increase of 10% plus inflation for each of the three years from 2022 – 2024; and
• A permanent 50% basis boost for properties serving extremely low-income tenants, and an 8% minimum set-aside for ELI properties. 

More detailed analysis coming!