![The Affordable Housing Tax Credit Coalition [main graphic] A group of developers, syndicators, lenders, nonprofit groups, public agencies, and others concerned with the low-income housing tax credit.](/images/feature_graphics/feature1.jpg?1216325369)
On Wednesday, October 24, 2007, the House Ways and Means Committee marked-up H.R. 3920 the Trade Adjustment Assistance Improvement Act and reported it out favorably to the full House.
Of interest to Coalition members is a section of tax provisions which includes an increase in per capita Housing Credits for designated Manufacturing Redevelopment Zones (MRZs). The bill would establish twenty-four MRZs which would be eligible for redevelopment tax incentives including an increase in the Housing Credit ceiling to $20.00 per person located within such MRZ. State and local governments will nominate areas that have experienced a significant decline in the number of individuals employed in manufacturing or that have a high concentration of abandoned or underutilized manufacturing facilities.
A summary of the tax provisions including in H.R. 3920 is included below.
