Senator Bingaman introduced S.3141 on March 18. This bill is very similar to  HR. 4109, as introduced in the House by Rep. Pascrell.

S. 3141 would increase the carryback period for the Low Income Housing Tax Credit from one to a maximum of five years. Ernst & Young recently determined that this would bring in $5 billion in additional private LIHTC investments. The bill would thus reinvigorate investment in the LIHTC program and produce needed affordable housing while preserving and creating jobs.

We are currently seeking co-sponsors in the Senate, especially from members of the Senate Finance Committee. The updated list of co-sponsors is:

• Sen. Cantwell (D-WA)
• Sen. Kerry (D-MA)
• Sen. Menendez (D-NJ)
• Sen. Schumer (D-NY)
• Sen. Stabenow (D-MI)
• Sen. Merkley (D-OR)

The bill summary and status is available on Thomas.gov (Library of Congress).
The full text of the bill is also available here.

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