A proposed change to the federal low-income housing tax-credit program would help affordable housing projects reach more income levels and make the credits more attractive to investors, according to New York officials.

Currently, tax credits can be used for housing units by families or individuals whose income is at or below 60% or 50% of area median income, depending on the program used. President Barack Obama's proposed budget would extend the tax credit to units in a project that reserved 40% of units for people earning an average of 60% of area median income and would allow for incomes of up to 80% of AMI.

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