Senator Maria Cantwell (D-WA) announced last week that she intends to introduce reforms to the Low Income Housing Tax Credit and seek a 50% increase in this tax expenditure program to create more affordable rental housing opportunities across the U.S. We expect Income Averaging of the tax credit, one of NYHC’s top legislative priorities, to be part of this upcoming legislation.
This is great news for New York where a broader range of incomes will be very welcome in many communities. Working with the National Housing Conference, we expect to produce new infographics on the topic as well. Click below to see how income averaging will benefit New York.
