Trump’s Omnibus Spending Plan adopts two key provisions from the proposed Affordable Housing Credit Improvement Act that will strengthen and expand low-income housing credit. The 2018 spending plan increases housing credit ceiling by 12.5%percent for next four years and incorporates a new “Average Income Test” to qualify for low-income housing tax credits. The Average Income Test offers potential benefits to taxpayers, but questions remain as to whether States will adopt this option, the mechanics of application, and difficulties in monitoring compliance.

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Source: International Law Office