Ohio Senators Portman and Brown Sponsor Senate Version of Bill Expanding Low-Income Housing Tax Credit

Ohio’s two U.S. senators this week proposed a Senate bill making full-time students eligible for the Low-Income Housing Tax Credit (LIHTC) program. 

U.S. Representatives Brad Wenstrup (R-OH-2) and Danny Davis (D-IL-7) introduced a House version of the measure earlier this week. The proposed change to the program would make LIHTC, which provides tax relief to developers who build or rehabilitate low-cost rental units, allow full-time students to live on sites that were funded by the credit. The current prohibition on such students living in those buildings was intended to prevent LIHTC from aiding the construction of dormitories. 

Read More

Ohio Congressman Wenstrup Sponsors Bill to Expand Housing Availability for Homeless Veterans and Students

U.S. Representatives Brad Wenstrup (R-OH-2) and Danny Davis (D-IL-7) this week introduced a measure to assist homeless veterans, foster youth and others in obtaining affordable housing as they seek college degrees. 

Wenstrup and Davis hope to change the Low-Income Housing Tax Credit (LIHTC), which lightens the tax burden on developers constructing or rehabilitating low-cost rental units. Currently, LIHTC does not permit full-time students to avail themselves of LIHTC-funded housing sites. This restriction was written to prevent the tax credit from funding dormitory buildings. 

Read More

Legislation Would Exempt Ohio’s Fully Disabled Veterans from Property Taxes

State Representative Tom Patton (R-OH-Strongsville) is spearheading an effort to end property taxation for fully disabled military veterans and their surviving spouses in the Buckeye State.

According to the legislature’s official analysis of Patton’s bill, Ohio presently exempts $50,000 of the assessed value of homes owned by honorably discharged veterans who the federal Department of Veterans Affairs has given a 100-percent disability rating. Individuals so designated are considered severely impaired and unable to function professionally. A deceased veteran’s surviving wife or husband can access the exemption if the veteran received the benefit the year he or she died, lived at the residence during the veteran’s passing and continues to own that home. 

Read More