Federal Middle-Income Housing Tax Credit Act of 2016 Introduced
With the cost of housing squeezing family budgets across the country, Senate Finance Committee Ranking Member Ron Wyden, D-Ore., released draft legislation that would create a new tax credit to spur the development of rental homes affordable to Americans with moderate incomes. The new incentive, called the Middle-Income Housing Tax Credit (MIHTC) is carefully designed to work in conjunction with the Low-Income Housing Tax Credit (LIHTC), a popular existing program that has helped to finance the construction of nearly three million affordable rental units since its creation in 1986.
Both NAA and NHMC are applauding this piece of federal legislation. To read more about this proposal, click here.