On May 5, Senators Maria Cantwell (D-WA) and Pat Roberts (R-KS) introduced legislation (S 1193) to permanently fix the LIHTC applicable rates at 9% for new construction and rehabilitation expenditures and at 4% for acquisition expenditures. S1193 has bipartisan support and is identical to legislation introduced to the House (HR 1142) in late February by Congressmen Pat Tiberi (R-OH) and Richard Neal (D-MA). The Senate Finance Committee is currently considering the bill. The new fixed rates would apply to buildings placed in served after December 31, 2014.