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Rep. Charles Rangel, D-N.Y., recently introduced the Renters Tax Credit Act of 2014 (H.R. 4479), which would provide a tax credit to apartment owners and lenders that subsidize the cost of lower rents for low-income households. The renter’s credit combines the concepts of the Low-Income Housing Tax Credit and project-based rental assistance and would cover the difference between the fair market rent of a unit and 30 percent of the qualified renter’s income.
