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t. e. The Low-Income Housing Tax Credit (LIHTC) is a federal program in the United States that awards tax credits to housing developers in exchange for agreeing to reserve a certain fraction of rent-restricted units for lower-income households. [1] The program was created under the Tax Reform Act of 1986 (TRA86) to incentivize the use of ...
The federal government, through its Low-Income Housing Tax Credit program (which in 2012 paid for construction of 90% of all subsidized rental housing in the US), spends $6 billion per year to finance 50,000 low-income rental units annually, with median costs per unit for new construction (2011–2015) ranging from $126,000 in Texas to $326,000 ...
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.
The president wants to increase the number of tax credits available for low-income housing developers and approve a $20 billion innovation fund for affordable housing expansion.
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 ...
Low-Income Housing Tax Credit Main article: Low-Income Housing Tax Credit Through LIHTC, investors receive a tax shelter of one dollar ($1) for every tax credit received over a 10-year period.
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