The issue of Low-Income Housing Tax Credits (LIHTC) will come to a resolution of some sorts tonight, Monday, April 1, in the House Committee on Economic Development. There is a proposed House Committee substitute for HB 665 that, if passed, will place severe stress on the program. The Senate has already passed a significant change to the program by setting the credit availability at seventy-two and one-half percent of the federal credit. Note, the current federal credit is $160 million, making the Missouri credit $116 million.
We are sending a Call for Action to oppose the House Committee Substitute. This is such an important issue with limited time, that we must utilize every tool we have available.
In other news, HB 106, related to immunity for real estate licensees dealing with area or square footage, is out of Rules Committee. That’s good news. SB 36, regarding the same subject matter as HB 106, has been assigned to House Professional Registration. I will provide updates accordingly.
Chief Lobbyist, Missouri REALTORS®