[Congressional Record (Bound Edition), Volume 159 (2013), Part 10]
[Extensions of Remarks]
[Page 14066]
[From the U.S. Government Publishing Office, www.gpo.gov]




   TO AMEND THE INTERNAL REVENUE CODE TO QUALIFY HOMELESS YOUTH AND 
     VETERANS FOR THE PURPOSES OF THE LOW INCOME HOUSING TAX CREDIT

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                           HON. JIM McDERMOTT

                             of washington

                    in the house of representatives

                      Thursday, September 19, 2013

  Mr. McDERMOTT. Mr. Speaker, I rise today to introduce bipartisan 
legislation that will fix an error and enable homeless veterans and 
youth to pursue full time education while living in Low Income Housing 
Tax Credit financed housing.
  Low Income Housing Tax Credits (LIHTC) have been a crucial foundation 
to incentivize the building of affordable low income housing. LIHTC 
housing has been invaluable in providing much needed shelter for those 
living in poverty or on the streets.
  Unfortunately, a provision in the law is having unintended 
consequences. Currently, a homeless veteran or youth that wishes to 
pursue full time education must choose between an education and living 
in LIHTC housing. This is not a choice they should be forced to make, 
nor is this a policy America has ever supported.
  Education is the cornerstone of American excellence and ingenuity and 
remains the best means to escape poverty. It is critical that we fix 
this defect in the law, and ensure that our youth are given every 
opportunity to reach their educational goals.

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