Senator Ron Wyden (D-OR), ranking member of the Senate Finance Committee, today released draft legislation that would create a new tax credit “…to spur development of rental homes affordable to Americans with moderate income.”
The middle-income housing credit (MIHTC) would be modeled after the low-income housing credit that has financed about 2.8 million affordable homes for low-income persons since its enactment in 1986.
Details of the discussion draft provide the following:
Senator Wyden has requested comments within 90 days on the discussion draft, harmonizing and coordinating the proposed new credit with the LIHTC, and other issues.
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