On February 8, Representatives Cedric Richmond (D-LA) and Charles Boustany (R-LA) introduced H.R. 559. The bill would extend the Gulf Opportunity Zone (GOZone) low income housing tax credits placed in service date from January 1, 2012 to January 1, 2013. After the 2005 Gulf Coast storms, Congress allocated a significant increase of low income housing tax credits to the Gulf Coast states to assist in rebuilding efforts. The extension of the deadline by which GOZone tax credits must be used will allow additional projects to come on line. The bill is similar to S. 30, introduced on January 25 (see Memo, 2/4). Mr. Boustany is a member of the House Committee on Ways and Means, to which this bill was referred.