Senators Reintroduce Bill to Fix 9% and 4% Housing Credit Rates

Senator Maria Cantwell (D-WA) and a group of bipartisan senators together reintroduced S. 1442, which would amend the Internal Revenue Code of 1986 to make permanent the minimum low-income housing tax credit (LIHTC) rate for unsubsidized buildings and provide a minimum 4 percent credit rate for existing buildings. In other words, the bill would permanently extend the flat 9 percent credit rate and create a flat 4 percent credit rate for LIHTC allocations.