Camp tax reform includes proposed changes to LIHTC program

Yesterday afternoon, House Ways and Means Committee Chairman Dave Camp (R-MI) released his proposal to reform the federal tax code. While his discussion draft would preserve the low-income housing tax credit (LIHTC) program, it also proposes significant changes to the program. You can read a summary of the proposal here.

Several industry organizations have already weighed in with their thoughts regarding the proposal. As Ethan Handelman writes in his NHC blog post, “Housing stakeholders will need time to analyze the 979-page bill, but a few points are clear immediately”:

• Center on Budget and Policy Priorities (CBPP), “Camp Plan Hits Many Working Poor Families Hard, Taking $2,000 From Minimum Wage Mother”
• National Council of State Housing Agencies (NCSHA), “Camp Tax Reform Discussion Draft Retains and Amends Housing Credit, Eliminates Private Activity Bonds”
• National Low-Income Housing Coalition (NLIHC), “Press Statement by NLIHC President Sheila Crowley on Chairman Camp’s Tax Reform Proposal”
• National Housing Conference (NHC), “Affordable Housing Makes the Cut in Tax Reform Proposal”