On September 28, Congress approved legislation introduced by Ways and Means Chairman Kevin Brady (R-TX-8) to provide limited tax relief to the communities affected by Hurricanes Harvey, Irma and Maria. This legislation does not include any affordable housing or community development provisions, although additional disaster tax relief legislation containing these provisions may still be considered. Rep. Tom Reed (R-NY-23) reintroduced the Natural Disaster Tax Relief Act (H.R. 3679) last month, which would provide a broad tax relief package that includes increased allocations of the Housing Credit and NMTC to federally declared natural disasters from 2012 through 2015. While no legislation has been introduced that would provide similar relief for the more recent disasters, members of Congress representing these communities may still introduce such legislation in the coming months. Read more about disaster tax relief legislation on Enterprise’s blog.
Congress Considers Tax Relief as Disaster Recovery Efforts Continue
Published by Oklahoma Coalition for Affordable Housing
The vision of OCAH: That all Oklahomans have the opportunity to live in safe, healthy and affordable homes. Our Mission: To lead the movement to ensure that all residents of the state of Oklahoma flourish in safe, affordable homes and to help communities develop safe and affordable housing options for all of their residents. We reach our mission through advocacy, education and practical training to foster the production and maintenance of affordable housing throughout the state. View all posts by Oklahoma Coalition for Affordable Housing