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    Urban Housing: A Strategic Role for the States

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    09_12YaleL_PolyRev93_1994_.pdf
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    Author
    Salsich, Peter
    
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    URI
    http://hdl.handle.net/20.500.13051/16771
    Abstract
    Amid the cacophony of the Clinton Administration's first year, quiet steps were taken to transform federal housing policy. Two popular housing programs, tax-exempt housing revenue bonds and low-income housing tax credits, were extended permanently in the Omnibus Budget Reconciliation Act of 1993. Tax-exempt housing revenue bonds have been the mainstay of a remarkable growth in state housing-finance programs in the past twenty years. The low-income housing tax credit, the only active federal housing production subsidy program, is administered by many of the same state housing agencies that issue tax-exempt housing revenue bonds. The congressional decision to give permanent status to these two programs is evidence of a growing confidence in the ability of states to be the primary managers of federal housing policy.
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