Wyden Outlines Affordable Housing Priorities For Next COVID-19 Relief Package

Wyden Outlines Affordable Housing Priorities For Next COVID-19 Relief Package

Wyden Outlines Affordable Housing Priorities For Next COVID-19 Relief Package

Senate Finance Committee Ranking Member Ron Wyden, D-Ore., outlined policies to preserve and expand affordable housing that he will push to include in the next COVID-19 relief bill.  These priorities include:

  • Suspending “red tape” compliance for 12 months so LIHTC projects can continue
  • Expanding LIHTC incentives for new production of affordable housing
  • Closing the LIHTC “Qualified Contract” loophole to keep affordable housing affordable
  • Providing emergency assistance to help LIHTC tenants stay housed
  • Providing incentives to LIHTC properties that have not fully leased up to preserve financial support and keep properties open
  • Providing additional support for LIHTC properties that house people experiencing homelessness

Read the full press release here.

News from the IRS

On May 22, the Internal Revenue released Bulletin 2020-22. Click here to read the bulletin.

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