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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.
LISC was an early advocate for the Low-Income Housing Tax Credit (LIHTC), which created by the Reagan Administration in the Tax Reform Act of 1986. In 1987, LISC launched the National Equity Fund (NEF) to syndicate LIHTC, raising $14.5 million in the first year. [15]
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.
Biden is further proposing a one-year tax credit of up to $10,000 to middle-class families who sell their starter home (a home that is below the area median home price in the county) to another ...
Recognizing the financial pain felt by millions of working families, President Biden has proposed a $10,000 tax credit for first-time homebuyers and people who sell their starter homes. Don’t miss
A business line of credit can be a helpful windfall for your business when income is tight. To maximize the benefits and avoid hurting your business finances, manage your line of credit carefully.
National Equity Fund, Inc. was founded by the Local Initiatives Support Corporation to be one of the first LIHTC syndicators, following the creation of LIHTC in the Tax Reform Act of 1986. LIHTC provides investors in affordable housing a dollar-for-dollar reduction in federal taxes in exchange for equity in new or refurbished affordable housing ...
The Low-Income Housing Tax Credit (LIHTC) was added to TRA86 [clarification needed] to provide some balance and encourage investment in multifamily housing for those in need of affordable rental housing options. Over the subsequent 20 years, it has become an extremely effective tool for developing affordable rental housing, but less efficient ...