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Preserve Housing Tax Credits Under Minimum Tax, Industry Says

April 5, 2022, 9:45 PM

The U.S. should ensure that global minimum tax rules continue to allow incentives for investment in housing, a group of 30 organizations representing the housing industry said.

Incentives offered by the Low Income Housing Tax Credit, New Markets Tax Credit, historic tax credits, and tax-exempt bonds could be at risk, and should be preserved under the new rules, the group said Tuesday in a letter to Treasury.

Last year, nearly 140 countries agreed on a two-part global tax overhaul, which includes a 15% global minimum corporate tax rate, known as Pillar Two. The OECD, which has led the negotiations, ...