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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.
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 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.
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Robert Bernard Reich (/ ˈ r aɪ ʃ /; [2] born June 24, 1946) is an American professor, author, lawyer, and political commentator. [3] He worked in the administrations of presidents Gerald Ford and Jimmy Carter, [4] and served as Secretary of Labor from 1993 to 1997 in the cabinet of President Bill Clinton.
Joe Biden's tenure as the 46th president of the United States began with his inauguration on January 20, 2021, and ended on January 20, 2025. Biden, a member of the Democratic Party who previously served as vice president for two terms under President Barack Obama from 2009 to 2017, took office after his victory in the 2020 presidential election over the incumbent president, Donald Trump of ...
Of the 26.2 million foreign immigrants living in the US in 1998, 62.9% were non-US citizens. In 1997, 34.3% of non-US citizens living in the US did not have health insurance coverage opposed to the 14.2% of native-born Americans who do not have health insurance coverage.
Elizabeth Ann Warren (née Herring; born June 22, 1949) is an American politician and former law professor who is the senior United States senator from Massachusetts, serving since 2013.