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The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
The Tax Credit Assistance Program (TCAP) is a Federal housing grant program administered by HUD which assists Low Income Housing Tax Credit (LIHTC) projects funded during 2007, 2008 and 2009. The TCAP program is part of the American Recovery and Reinvestment Act which was signed by President Obama on February 17, 2009.
Housing is a big issue right now, with a lot of strong opinions. But there’s one particular housing program that most experts agree fails to deliver: the Low-Income Housing Tax Credit, known as ...
The Stellar Communities [2] program is a multi-agency partnership designed to fund comprehensive community development projects in Indiana's smaller communities. The Indiana Office of Community and Rural Affairs (OCRA), the Indiana Housing & Community Development Authority (IHCDA), [3] and the Indiana Department of Transportation (INDOT), along with the State Revolving Fund, are participating ...
In 2014, the Indiana state legislature passed a law that cut the corporate income tax from 8.50% in 2014 to 6.25% in 2016, with further decreases to be phased in until the rate falls to 4.9% in 2022. [5] Indiana is the only state that imposes corporate income taxes based on fiscal year instead of calendar year.
Historically, the state was a swing state, voting for the national winner all but four times from 1816 to 1912, with the exceptions of 1824, 1836, 1848, and 1876. [9] Nonetheless, half of Indiana's governors in the 20th century were Democrats. Indiana has also elected several Democrats to the Senate in recent years.
The program was the legislative response to riots that erupted in 1992 in Los Angeles after justification of police officers charged in the beating of an African-American motorist during the arrest. [3] The Community Renewal Tax Relief Act of 2000 authorized the creation of 40 renewal communities and created the New Markets Tax Credit Program. [4]
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