House Tax Reform Bill Would Devastate Affordable Housing

The House tax reform bill threats to drastically reduce the number of affordable housing units developed.

1 minute read

November 8, 2017, 2:00 PM PST

A recent study by the accounting firm Novogradac & Company estimates that the tax reform bill as proposed by the House of Representatives will result in a decrease in affordable housing production of 1 million units over ten years.

At risk is the 4 percent tax credit, one of two credits developers can use to build affordable housing (the 9 percent being the other). The 4 percent credit can be claimed if 50 percent or more of the project is financed using tax-exempt private-activity bonds. The House bill proposed to eliminate private-activity bonds, which would cause a large reduction in the production of low-income housing.

Jeff Andrews provides more coverage of the report in an article for Curbed.

FULL STORY: Affordable Housing Advocates Say Trump Tax Reform Bill is 'Devastating'

Friday, November 3, 2017 in Curbed

Government / Politics Housing United States Novogradac & Company Low Income Housing Tax Credit Trump Administration House of Representatives Tax Reform Affordable Housing View More

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