About: Low-Income Housing Tax Credit

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The Low-Income Housing Tax Credit (LIHTC - often pronounced "lie-tech", Housing Credit) is a dollar-for-dollar tax credit in the United States for affordable housing investments. It was created under the Tax Reform Act of 1986 (TRA86) and gives incentives for the utilization of private equity in the development of affordable housing aimed at low-income Americans, with affordability restrictions on the properties expiring 15-30 years later. LIHTC accounts for the majority (approximately 90%) of all newly created affordable rental housing in the United States today. As the maximum rent that can be charged is based upon the Area Median Income ("AMI"), LIHTC housing remains unaffordable to many low-income (<30% AMI) renters. The credits are also commonly called Section 42 credits in reference

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rdfs:label	Low-Income Housing Tax Credit (en)
rdfs:comment	The Low-Income Housing Tax Credit (LIHTC - often pronounced "lie-tech", Housing Credit) is a dollar-for-dollar tax credit in the United States for affordable housing investments. It was created under the Tax Reform Act of 1986 (TRA86) and gives incentives for the utilization of private equity in the development of affordable housing aimed at low-income Americans, with affordability restrictions on the properties expiring 15-30 years later. LIHTC accounts for the majority (approximately 90%) of all newly created affordable rental housing in the United States today. As the maximum rent that can be charged is based upon the Area Median Income ("AMI"), LIHTC housing remains unaffordable to many low-income (<30% AMI) renters. The credits are also commonly called Section 42 credits in reference (en)
dcterms:subject	Housing in the United States Taxation in the United States Affordable housing Tax credits
Wikipage page ID	461242 (xsd:integer)
Wikipage revision ID	1104307578 (xsd:integer)
Link from a Wikipage to another Wikipage	Private equity Regulatory Barriers Clearinghouse Housing in the United States United States United States Department of Housing and Urban Development Income tax Internal Revenue Code Tax credit Taxation in the United States Government Accountability Office Multi-family residential Housing finance agencies of the United States Tax Credit Assistance Program Affordable housing Tax credits Tax deduction HUD USER Tax Reform Act of 1986 Affordable housing C corporation Internal Revenue Service Section 8 (housing) United States Department of Treasury Public-private partnerships Low-income President's Economic Recovery Advisory Board U.S. Department of Housing and Urban Development dbr:Housing_Finance_Agencies
Link from a Wikipage to an external page	http://www.ncsha.org/housing-help http://www.novoco.com/low_income_housing/lihtc/index.php https://www.irs.gov/pub/irs-pdf/f8823.pdf http://www.huduser.org/portal/datasets/lihtc.html http://www.ncsha.org/ http://www.novoco.com/low_income_housing/lihtc/8823_guide.php http://www.nationalcompliancepro.com https://archive.today/20061029202721/http:/www.nahb.org/hccp https://web.archive.org/web/20100602122056/http:/www.hud.gov/offices/cpd/communitydevelopment/rulesandregs/laws/sec5302.cfm https://web.archive.org/web/20101127072609/http:/nahma.org/content/shcm.html https://web.archive.org/web/20120325070138/http:/www.nefinc.org/section/aboutus/about_credits https://www.law.cornell.edu/uscode/text/26/42-
sameAs	Low-Income Housing Tax Credit Low-Income Housing Tax Credit Low-Income Housing Tax Credit Low-Income Housing Tax Credit
dbp:wikiPageUsesTemplate	dbt:Citation_needed dbt:Living_spaces dbt:More_citations_needed dbt:R dbt:Reflist dbt:US_housing_by_state dbt:UStaxation
date	January 2018 (en)
talk	Entire sections have no citations (en)
has abstract	The Low-Income Housing Tax Credit (LIHTC - often pronounced "lie-tech", Housing Credit) is a dollar-for-dollar tax credit in the United States for affordable housing investments. It was created under the Tax Reform Act of 1986 (TRA86) and gives incentives for the utilization of private equity in the development of affordable housing aimed at low-income Americans, with affordability restrictions on the properties expiring 15-30 years later. LIHTC accounts for the majority (approximately 90%) of all newly created affordable rental housing in the United States today. As the maximum rent that can be charged is based upon the Area Median Income ("AMI"), LIHTC housing remains unaffordable to many low-income (<30% AMI) renters. The credits are also commonly called Section 42 credits in reference to the applicable section of the Internal Revenue Code. The tax credits are more attractive than tax deductions as the credits provide a dollar-for-dollar reduction in a taxpayer's federal income tax, whereas a tax deduction only provides a reduction in taxable income. The "passive loss rules" and similar tax changes made by TRA86 greatly reduced the value of tax credits and deductions to individual taxpayers. Less than 10% of current credit expenditures are claimed by individual investors. In 2010, the President's Economic Recovery Advisory Board (PERAB) estimated that the LIHTC program would cost the federal government $61 billion (an average of about $6 billion per year) in lost tax revenue from participating corporations from 2008-2017, as well as noting that some experts believe that vouchers would more cost-effectively help low income households. A 2018 report by the GAO covering the years 2011-2015 found that the LIHTC program financed about 50,000 low-income rental units annually, with median costs per unit for new construction ranging from $126,000 in Texas to $326,000 in California. LIHTC projects increase land value in surrounding neighborhoods. (en)
gold:hypernym	Credit
prov:wasDerivedFrom	wikipedia-en:Low-Income_Housing_Tax_Credit?oldid=1104307578&ns=0
page length (characters) of wiki page	33458 (xsd:nonNegativeInteger)
foaf:isPrimaryTopicOf	wikipedia-en:Low-Income_Housing_Tax_Credit
is Link from a Wikipage to another Wikipage of	Scott Ehrlich Enterprise Community Partners New Markets Tax Credit Program Housing Benefit United States Department of Housing and Urban Development Inclusionary zoning Inquilinos Boricuas en Acción Pennsylvania Housing Finance Agency Consolidated Appropriations Act, 2018 Low-income housing tax credit Furman Center for Real Estate and Urban Policy Housing Tax Credit Assistance Program Century Housing Corporation Weinland Park Local Initiatives Support Corporation Capital Impact Partners Kentucky Housing Corporation Subsidized housing in the United States Public service law in the United States Rental Assistance Demonstration Tax Reform Act of 1986

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