Six Senators sent a letter to Internal Revenue Service (IRS) Commissioner Charles Rettig requesting he issue a notice clarifying that affordable housing projects for veterans that comply with the LIHTC General Public Use criteria are also eligible for Private Activity Bonds (PABs). Sens. John Cornyn (R-TX), Catherine Cortez Masto (D-NV), Diane Feinstein (D-CA), Kamala Harris (D-CA) Mazie Hirono (D-HI) and Jacky Rosen (D-NV) argue that, “given that LIHTCs and PABs are designed to be used in tandem, the General Public Use criteria explicitly laid out in the LIHTC statue should apply to PABs as well.” The letter states that a veteran housing project in Windsor, CA is unable to break ground because of the IRS interpretation.
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