{ "id": "RS22389", "type": "CRS Report", "typeId": "RS", "number": "RS22389", "active": true, "source": "CRSReports.Congress.gov, EveryCRSReport.com, University of North Texas Libraries Government Documents Department", "versions": [ { "source_dir": "crsreports.congress.gov", "title": "An Introduction to the Low-Income Housing Tax Credit", "retrieved": "2023-06-01T04:04:28.384415", "id": "RS22389_70_2023-04-26", "formats": [ { "filename": "files/2023-04-26_RS22389_e5bad62337bc339b573c107e8f2a87f471c68236.pdf", "format": "PDF", "url": "https://crsreports.congress.gov/product/pdf/RS/RS22389/70", "sha1": "e5bad62337bc339b573c107e8f2a87f471c68236" }, { "format": "HTML", "filename": "files/2023-04-26_RS22389_e5bad62337bc339b573c107e8f2a87f471c68236.html" } ], "date": "2023-04-26", "summary": null, "source": "CRSReports.Congress.gov", "typeId": "RS", "active": true, "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=RS22389", "type": "CRS Report" }, { "source_dir": "crsreports.congress.gov", "title": "An Introduction to the Low-Income Housing Tax Credit", "retrieved": "2023-06-01T04:04:28.382661", "id": "RS22389_67_2023-01-06", "formats": [ { "filename": "files/2023-01-06_RS22389_015cbeba535ece0484aa942944edc7c6a0f72155.pdf", "format": "PDF", "url": "https://crsreports.congress.gov/product/pdf/RS/RS22389/67", "sha1": "015cbeba535ece0484aa942944edc7c6a0f72155" }, { "format": "HTML", "filename": "files/2023-01-06_RS22389_015cbeba535ece0484aa942944edc7c6a0f72155.html" } ], "date": "2023-01-06", "summary": null, "source": "CRSReports.Congress.gov", "typeId": "RS", "active": true, "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=RS22389", "type": "CRS Report" }, { "source_dir": "crsreports.congress.gov", "title": "An Introduction to the Low-Income Housing Tax Credit", "retrieved": "2023-06-01T04:04:28.382108", "id": "RS22389_66_2022-06-23", "formats": [ { "filename": "files/2022-06-23_RS22389_30147fff3b706c151aca5363e9cb4830ffe96671.pdf", "format": "PDF", "url": "https://crsreports.congress.gov/product/pdf/RS/RS22389/66", "sha1": "30147fff3b706c151aca5363e9cb4830ffe96671" }, { "format": "HTML", "filename": "files/2022-06-23_RS22389_30147fff3b706c151aca5363e9cb4830ffe96671.html" } ], "date": "2022-06-23", "summary": null, "source": "CRSReports.Congress.gov", "typeId": "RS", "active": true, "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=RS22389", "type": "CRS Report" }, { "source_dir": "crsreports.congress.gov", "title": "An Introduction to the Low-Income Housing Tax Credit", "retrieved": "2023-06-01T04:04:28.381501", "id": "RS22389_65_2021-01-26", "formats": [ { "filename": "files/2021-01-26_RS22389_f6af038799579bcf98f3e51246a02b09a25a4d47.pdf", "format": "PDF", "url": "https://crsreports.congress.gov/product/pdf/RS/RS22389/65", "sha1": "f6af038799579bcf98f3e51246a02b09a25a4d47" }, { "format": "HTML", "filename": "files/2021-01-26_RS22389_f6af038799579bcf98f3e51246a02b09a25a4d47.html" } ], "date": "2021-01-26", "summary": null, "source": "CRSReports.Congress.gov", "typeId": "RS", "active": true, "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=RS22389", "type": "CRS Report" }, { "source_dir": "crsreports.congress.gov", "title": "An Introduction to the Low-Income Housing Tax Credit", "retrieved": "2023-06-01T04:04:28.380245", "id": "RS22389_63_2021-01-15", "formats": [ { "filename": "files/2021-01-15_RS22389_f2fa78a64b87a2267dc4d87edb2628b73378d382.pdf", "format": "PDF", "url": "https://crsreports.congress.gov/product/pdf/RS/RS22389/63", "sha1": "f2fa78a64b87a2267dc4d87edb2628b73378d382" }, { "format": "HTML", "filename": "files/2021-01-15_RS22389_f2fa78a64b87a2267dc4d87edb2628b73378d382.html" } ], "date": "2021-01-15", "summary": null, "source": "CRSReports.Congress.gov", "typeId": "RS", "active": true, "sourceLink": "https://crsreports.congress.gov/product/details?prodcode=RS22389", "type": "CRS Report" }, { "source": "EveryCRSReport.com", "id": 613714, "date": "2020-01-15", "retrieved": "2020-01-15T23:05:58.194307", "title": "An Introduction to the Low-Income Housing Tax Credit", "summary": "The low-income housing tax credit (LIHTC) program is the federal government\u2019s primary policy tool for encouraging the development and rehabilitation of affordable rental housing. The program awards developers federal tax credits to offset construction costs in exchange for agreeing to reserve a certain fraction of units that are rent-restricted and for lower-income households. The credits are claimed over a 10-year period. Developers need upfront financing to complete construction so they will usually sell their tax credits to outside investors (e.g., corporations, financial institutions) in exchange for equity financing. The equity reduces the financing developers would otherwise have to secure and allows tax credit properties to offer more affordable rents. The LIHTC is estimated to cost the government an average of approximately $9.8 billion annually. \nThe 2018 Consolidated Appropriations Act (P.L. 115-141) made two changes to the LIHTC program. First, the act increased the amount of credits available to states each year by 12.5% for years 2018 through 2021. This modification appeared to be in response to concerns over the effects of P.L. 115-97, commonly referred to as the Tax Cuts and Jobs Act (TCJA). The changes made by TCJA did not directly alter the LIHTC program; however, the act reduced corporate taxes, which had the potential to reduce demand for LIHTCs. Second, the act modified the so-called \u201cincome test,\u201d which determines the maximum income an LIHTC tenant may have. Previously, each individual tenant was required to have an income below one of two threshold options (either 50% or 60% of area median gross income [AMI], depending on an election made by the property owner). With the modification, property owners may use a third income test option that allows them to average the income of tenants when determining whether the income restriction is satisfied, but no tenant may have an income in excess of 80% of AMI.\nMost recently, to assist certain areas of California that were affected by natural disasters in 2017 and 2018, the Further Consolidated Appropriations Act, 2020 (P.L. 116-94) increased California\u2019s 2020 LIHTC allocation by the lesser of the state\u2019s 2020 LIHTC allocations to buildings located in qualified 2017 and 2018 California disaster areas, or 50% of the state\u2019s combined 2017 and 2018 total LIHTC allocations.\nThere have also been a number of bills introduced in the 116th Congress that would make targeted changes to the LIHTC program. These proposals include H.R. 4984, H.R. 4865 and S. 767, H.R. 4689, H.R. 3479 and S. 1956, and H.R. 3478. Broader changes to the program have been proposed by the Affordable Housing Credit Improvement Act of 2019 (H.R. 3077/S. 1703).", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/RS22389", "sha1": "fb6c2501d94ec91a3a87215f78d249bceeb1fd30", "filename": "files/20200115_RS22389_fb6c2501d94ec91a3a87215f78d249bceeb1fd30.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/RS22389", "sha1": "aeb545f960b13f573e379a9ef5d3d1872a5f4ffb", "filename": "files/20200115_RS22389_aeb545f960b13f573e379a9ef5d3d1872a5f4ffb.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4853, "name": "Housing Assistance" } ] }, { "source": "EveryCRSReport.com", "id": 592421, "date": "2019-02-27", "retrieved": "2019-12-20T19:53:00.203408", "title": "An Introduction to the Low-Income Housing Tax Credit", "summary": "The low-income housing tax credit (LIHTC) program is one of the federal government\u2019s primary policy tools for encouraging the development and rehabilitation of affordable rental housing. These nonrefundable federal housing tax credits are awarded to developers of qualified rental projects via a competitive application process administered by state housing finance authorities. Developers typically sell their tax credits to outside investors in exchange for equity in the project. Selling the tax credits reduces the debt developers would otherwise have to incur and the equity they would otherwise have to contribute. With lower financing costs, tax credit properties can potentially offer lower, more affordable rents. The LIHTC is estimated to cost the government an average of approximately $9.9 billion annually. \nIn late 2017, there was a revision to the Internal Revenue Code (P.L. 115-97) that substantially changed the federal tax system. The revision did not directly alter the LIHTC program; however, there had been early reports of downward pressure on tax credit demand stemming from the 2017 tax revision. \nMost recently, the 2018 Consolidated Appropriations Act (P.L. 115-141) made two changes to the LIHTC program. First, the act modified the so-called \u201cincome test,\u201d which determines the maximum income an LIHTC tenant may have. Previously, each individual tenant was required to have an income below one of two threshold options (either 50% or 60% of area median gross income, depending on an election made by the property owner). With the modification, property owners may use a third income test option that allows them to average the income of tenants when determining whether the income restriction is satisfied. Second, the act also increased the amount of credits available to states each year by 12.5% for years 2018 through 2021. \nThis report will be updated as warranted by legislative changes.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "https://www.crs.gov/Reports/RS22389", "sha1": "0f7cf91beb37c23f587c4622aae582e3ffe89858", "filename": "files/20190227_RS22389_0f7cf91beb37c23f587c4622aae582e3ffe89858.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "https://www.crs.gov/Reports/pdf/RS22389", "sha1": "742d8c59b1eb0805fb7526131113639766dd7529", "filename": "files/20190227_RS22389_742d8c59b1eb0805fb7526131113639766dd7529.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4853, "name": "Housing Assistance" } ] }, { "source": "EveryCRSReport.com", "id": 579849, "date": "2018-03-28", "retrieved": "2018-04-09T13:08:42.288210", "title": "An Introduction to the Low-Income Housing Tax Credit", "summary": "The low-income housing tax credit (LIHTC) program is one of the federal government\u2019s primary policy tools for encouraging the development and rehabilitation of affordable rental housing. These nonrefundable federal housing tax credits are awarded to developers of qualified rental projects via a competitive application process administered by state housing finance authorities. Developers typically sell their tax credits to outside investors in exchange for equity. Selling the tax credits reduces the debt developers would otherwise have to incur and the equity they would otherwise have to contribute. With lower financing costs, tax credit properties can potentially offer lower, more affordable rents. The LIHTC is estimated to cost the government an average of approximately $9.0 billion annually. \nIn late 2017, there was a revision to the Internal Revenue Code (P.L. 115-97) that substantially changed the federal tax system. The revision did not directly alter the LIHTC program; however, there have been early reports of downward pressure on tax credit demand stemming from the 2017 tax revision. It is not yet clear what, if any, impact there may be on the affordable housing supply in the long run as the result of the recent changes to the federal tax code. \nMost recently, the 2018 Consolidated Appropriations Act (P.L. 115-141) made two changes to the LIHTC program. First, the act modified the so-called \u201cincome test,\u201d which determines the maximum income a LIHTC tenant may have. Previously, each individual tenant was required to have an income below one of two threshold options (either 50% or 60% of area median gross income, depending on an election made by the property owner). With the modification, property owners may use a third income test option that allows them to average the income of tenants when determining. Second, the act also increased the amount of credits available to states each year by 12.5% for years 2018 through 2021. \nThis report will be updated as warranted by legislative changes.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/RS22389", "sha1": "abc8eca9f874d9ef14fb8b95c95a04cdb3a82b54", "filename": "files/20180328_RS22389_abc8eca9f874d9ef14fb8b95c95a04cdb3a82b54.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/RS22389", "sha1": "bf831e196e22c27870e12bc26b348e2d8290c811", "filename": "files/20180328_RS22389_bf831e196e22c27870e12bc26b348e2d8290c811.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4853, "name": "Housing Assistance" } ] }, { "source": "EveryCRSReport.com", "id": 577974, "date": "2018-01-24", "retrieved": "2018-02-01T17:10:41.413809", "title": "An Introduction to the Low-Income Housing Tax Credit", "summary": "The low-income housing tax credit (LIHTC) program is one of the federal government\u2019s primary policy tools for encouraging the development and rehabilitation of affordable rental housing. These nonrefundable federal housing tax credits are awarded to developers of qualified rental projects via a competitive application process administered by state housing finance authorities. Developers typically sell their tax credits to outside investors in exchange for equity. Selling the tax credits reduces the debt developers would otherwise have to incur and the equity they would otherwise have to contribute. With lower financing costs, tax credit properties can potentially offer lower, more affordable rents. The LIHTC is estimated to cost the government an average of approximately $9.0 billion annually. \nIn late 2017, there was a revision to the Internal Revenue Code (P.L. 115-97) that substantially changed the federal tax system. The revision did not directly alter the LIHTC program; however, there have been early reports of downward pressure on tax credit demand stemming from the 2017 tax revision. It is not yet clear what, if any, impact there may be on the affordable housing supply in the long run as the result of the recent changes to the federal tax code. \nThis report will be updated as warranted by legislative changes.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/RS22389", "sha1": "23ebfb234d0de19a7710824dd645450c73454563", "filename": "files/20180124_RS22389_23ebfb234d0de19a7710824dd645450c73454563.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/RS22389", "sha1": "f2036287da7bc73387459423adec6ef818d96eff", "filename": "files/20180124_RS22389_f2036287da7bc73387459423adec6ef818d96eff.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4853, "name": "Housing Assistance" } ] }, { "source": "EveryCRSReport.com", "id": 461638, "date": "2017-05-31", "retrieved": "2017-08-22T14:35:00.347540", "title": "An Introduction to the Low-Income Housing Tax Credit", "summary": "The low-income housing tax credit (LIHTC) program is one of the federal government\u2019s primary policy tools for encouraging the development and rehabilitation of affordable rental housing. These nonrefundable federal housing tax credits are awarded to developers of qualified rental projects via a competitive application process administered by state housing finance authorities. Developers typically sell their tax credits to outside investors in exchange for equity. Selling the tax credits reduces the debt developers would otherwise have to incur and the equity they would otherwise have to contribute. With lower financing costs, tax credit properties can potentially offer lower, more affordable rents. The LIHTC is estimated to cost the government an average of approximately $9.0 billion annually. \nThe LIHTC program was originally designed to provide a 30% subsidy for rehabilitated rental housing via the so-called 4% credit, and a 70% subsidy for newly constructed rental housing via the so-called 9% credit. To ensure that the 30% or 70% subsidies were achieved, the U.S. Department of the Treasury designed a formula for determining the effective 4% and 9% LIHTC rates. The formula depended in part on current market interest rates that fluctuate over time. These fluctuations caused the LIHTC rates to change over time, and typically have resulted in effective LIHTCs below the 4% and 9% thresholds. \nThe Housing and Economic Recovery Act of 2008 (P.L. 110-289) temporarily changed the credit rate formula used for new construction. The act effectively placed a floor equal to 9% on the new construction tax credit rate. The 9% credit rate floor originally only applied to new construction placed in service before December 31, 2013. The 4% tax credit rate that is applied to rehabilitation construction or new construction jointly financed with tax-exempt bonds remained unaltered by the act. The Tax Increase Prevention Act of 2014 (P.L. 113-295) extended the 9% credit floor for one year. Most recently, Division Q of P.L. 114-113\u2014the Protecting Americans from Tax Hikes Act (or \u201cPATH\u201d Act)\u2014permanently extended the 9% floor. Thus, new construction receives a credit rate equal to the greater of the rate determined under the original Treasury formula, or 9%. The 4% credit was left unaltered. \nThis report will be updated as warranted by legislative changes.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/RS22389", "sha1": "151f0809905bd17643cbb0fab0aab01f369e748e", "filename": "files/20170531_RS22389_151f0809905bd17643cbb0fab0aab01f369e748e.html", "images": {} }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/RS22389", "sha1": "8f69b2851901b593088e73d0165ff2f02296bf75", "filename": "files/20170531_RS22389_8f69b2851901b593088e73d0165ff2f02296bf75.pdf", "images": {} } ], "topics": [ { "source": "IBCList", "id": 4853, "name": "Housing Assistance" } ] }, { "source": "EveryCRSReport.com", "id": 456237, "date": "2016-10-04", "retrieved": "2016-11-28T21:28:37.601079", "title": "An Introduction to the Low-Income Housing Tax Credit", "summary": "The low-income housing tax credit (LIHTC) program is one of the federal government\u2019s primary policy tools for encouraging the development and rehabilitation of affordable rental housing. These non-refundable federal housing tax credits are awarded to developers of qualified rental projects via a competitive application process administered by state housing finance authorities. Developers typically sell their tax credits to outside investors in exchange for equity. Selling the tax credits reduces the debt developers would otherwise have to incur and the equity they would otherwise have to contribute. With lower financing costs, tax credit properties can potentially offer lower, more affordable rents. The LIHTC is estimated to cost the government an average of approximately $8.6 billion annually. \nThe LIHTC program was originally designed to provide a 30% subsidy for rehabilitated rental housing via the so-called 4% credit, and a 70% subsidy for newly constructed rental housing via the so-called 9% credit. To ensure that the 30% or 70% subsidies were achieved, the U.S. Department of the Treasury designed a formula for determining the effective 4% and 9% LIHTC rates. The formula depended in part on current market interest rates that fluctuate over time. These fluctuations caused the LIHTC rates to change over time, and typically have resulted in effective LIHTCs below the 4% and 9% thresholds. \nThe Housing and Economic Recovery Act of 2008 (P.L. 110-289) temporarily changed the credit rate formula used for new construction. The act effectively placed a floor equal to 9% on the new construction tax credit rate. The 9% credit rate floor originally only applied to new construction placed in service before December 31, 2013. The 4% tax credit rate that is applied to rehabilitation construction or new construction jointly financed with tax-exempt bonds remained unaltered by the act. The Tax Increase Prevention Act of 2014 (P.L. 113-295) extended the 9% credit floor for one year. Most recently, Division Q of P.L. 114-113\u2014the Protecting Americans from Tax Hikes Act (or \u201cPATH\u201d Act) permanently extended the 9% floor. Thus, new construction receives a credit rate equal to the greater of the rate determined under the original Treasury formula, or 9%. The 4% credit was left unaltered. \nThis report will be updated as warranted by legislative changes.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/RS22389", "sha1": "06c56430132e6c0114330c5d94489f5b42a3cd42", "filename": "files/20161004_RS22389_06c56430132e6c0114330c5d94489f5b42a3cd42.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/RS22389", "sha1": "b794eb271a984dd945c9daeebb9d6a62abb200c5", "filename": "files/20161004_RS22389_b794eb271a984dd945c9daeebb9d6a62abb200c5.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 4853, "name": "Housing Assistance" } ] }, { "source": "EveryCRSReport.com", "id": 448305, "date": "2015-12-28", "retrieved": "2016-04-06T17:38:15.836422", "title": "An Introduction to the Low-Income Housing Tax Credit", "summary": "The low-income housing tax credit (LIHTC) program is one of the federal government\u2019s primary policy tools for encouraging the development and rehabilitation of affordable rental housing. These non-refundable federal housing tax credits are awarded to developers of qualified rental projects via a competitive application process administered by state housing finance authorities. Developers typically sell their tax credits to outside investors in exchange for equity. Selling the tax credits reduces the debt developers would otherwise have to incur and the equity they would otherwise have to contribute. With lower financing costs, tax credit properties can potentially offer lower, more affordable rents. The LIHTC is estimated to cost the government an average of approximately $8.6 billion annually. \nThe LIHTC program was originally designed to provide a 30% subsidy for rehabilitated rental housing via the so-called 4% credit, and a 70% subsidy for newly constructed rental housing via the so-called 9% credit. To ensure that the 30% or 70% subsidies were achieved, the U.S. Department of the Treasury designed a formula for determining the effective 4% and 9% LIHTC rates. The formula depended in part on current market interest rates that fluctuate over time. These fluctuations caused the LIHTC rates to change over time, and typically have resulted in effective LIHTCs below the 4% and 9% thresholds. \nThe Housing and Economic Recovery Act of 2008 (P.L. 110-289) temporarily changed the credit rate formula used for new construction. The act effectively placed a floor equal to 9% on the new construction tax credit rate. The 9% credit rate floor originally only applied to new construction placed in service before December 31, 2013. The 4% tax credit rate that is applied to rehabilitation construction or new construction jointly financed with tax-exempt bonds remained unaltered by the act. The Tax Increase Prevention Act of 2014 (P.L. 113-295) extended the 9% credit floor for one year. Most recently, Division Q of P.L. 114-113\u2014the Protecting Americans from Tax Hikes Act (or \u201cPATH\u201d Act) permanently extended the 9% floor. Thus, new construction receives a credit rate equal to the greater of the rate determined under the original Treasury formula, or 9%. The 4% credit was left unaltered. \nThis report will be updated as warranted by legislative changes.", "type": "CRS Report", "typeId": "REPORTS", "active": true, "formats": [ { "format": "HTML", "encoding": "utf-8", "url": "http://www.crs.gov/Reports/RS22389", "sha1": "874923ef102ed2e16ddc7c1b0a07739179fab81a", "filename": "files/20151228_RS22389_874923ef102ed2e16ddc7c1b0a07739179fab81a.html", "images": null }, { "format": "PDF", "encoding": null, "url": "http://www.crs.gov/Reports/pdf/RS22389", "sha1": "2c94848f579191dd8bd510fae97947a50dd6200d", "filename": "files/20151228_RS22389_2c94848f579191dd8bd510fae97947a50dd6200d.pdf", "images": null } ], "topics": [ { "source": "IBCList", "id": 2201, "name": "Housing for Low-Income Individuals and Families" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc820968/", "id": "RS22389_2014Nov07", "date": "2014-11-07", "retrieved": "2016-03-19T13:57:26", "title": "An Introduction to the Low-Income Housing Tax Credit", "summary": "This report discusses the low-income housing tax credit (LIHTC) program, which is one of the federal government\u2019s primary policy tools for encouraging the development and rehabilitation of affordable rental housing. These non-refundable federal housing tax credits are awarded to developers of qualified rental projects via a competitive application process administered by state housing finance authorities.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20141107_RS22389_f75d662c189b3ba445154253f5a04132cbe61a3b.pdf" }, { "format": "HTML", "filename": "files/20141107_RS22389_f75d662c189b3ba445154253f5a04132cbe61a3b.html" } ], "topics": [ { "source": "LIV", "id": "Housing", "name": "Housing" }, { "source": "LIV", "id": "Tax credits", "name": "Tax credits" }, { "source": "LIV", "id": "Low-income housing", "name": "Low-income housing" }, { "source": "LIV", "id": "Taxation", "name": "Taxation" }, { "source": "LIV", "id": "Welfare", "name": "Welfare" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc808248/", "id": "RS22389_2013Feb12", "date": "2013-02-12", "retrieved": "2016-03-19T13:57:26", "title": "An Introduction to the Low-Income Housing Tax Credit", "summary": "This report discusses the low-income housing tax credit (LIHTC) program, which is one of the federal government\u2019s primary policy tools for encouraging the development and rehabilitation of affordable rental housing. These non-refundable federal housing tax credits are awarded to developers of qualified rental projects via a competitive application process administered by state housing finance authorities.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20130212_RS22389_9f8fe2446d40b47b93aadf3a891e5bf82953657b.pdf" }, { "format": "HTML", "filename": "files/20130212_RS22389_9f8fe2446d40b47b93aadf3a891e5bf82953657b.html" } ], "topics": [ { "source": "LIV", "id": "Housing", "name": "Housing" }, { "source": "LIV", "id": "Tax credits", "name": "Tax credits" }, { "source": "LIV", "id": "Low-income housing", "name": "Low-income housing" }, { "source": "LIV", "id": "Taxation", "name": "Taxation" }, { "source": "LIV", "id": "Welfare", "name": "Welfare" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc819117/", "id": "RS22389_2009Dec15", "date": "2009-12-15", "retrieved": "2016-03-19T13:57:26", "title": "An Introduction to the Design of the Low-Income Housing Tax Credit", "summary": "This report discusses the Low-Income Housing Tax Credit (LIHTC), which is a federal provision that reduces the income tax liability of taxpayers claiming the credit. These taxpayers are typically investors in real estate development projects that have traded cash for the tax credits to support the production of affordable housing. The credit is intended to lower the financing costs of housing developments so that the rental prices of units can be lower than market rates, and thus, presumably, affordable.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20091215_RS22389_9af05501f1b6d95d941e1e282e5c6354af72b2e3.pdf" }, { "format": "HTML", "filename": "files/20091215_RS22389_9af05501f1b6d95d941e1e282e5c6354af72b2e3.html" } ], "topics": [ { "source": "LIV", "id": "Housing", "name": "Housing" }, { "source": "LIV", "id": "Tax credits", "name": "Tax credits" }, { "source": "LIV", "id": "Low-income housing", "name": "Low-income housing" }, { "source": "LIV", "id": "Taxation", "name": "Taxation" }, { "source": "LIV", "id": "Welfare", "name": "Welfare" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc817254/", "id": "RS22389_2008Oct15", "date": "2008-10-15", "retrieved": "2016-03-19T13:57:26", "title": "An Introduction to the Design of the Low-Income Housing Tax Credit", "summary": "This report discusses the Low-Income Housing Tax Credit (LIHTC), which is a federal provision that reduces the income tax liability of taxpayers claiming the credit. These taxpayers are typically investors in real estate development projects that have traded cash for the tax credits to support the production of affordable housing. The credit is intended to lower the financing costs of housing developments so that the rental prices of units can be lower than market rates, and thus, presumably, affordable.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20081015_RS22389_9998a5dd4317fea8477c1811803bad771d6d96e9.pdf" }, { "format": "HTML", "filename": "files/20081015_RS22389_9998a5dd4317fea8477c1811803bad771d6d96e9.html" } ], "topics": [ { "source": "LIV", "id": "Housing", "name": "Housing" }, { "source": "LIV", "id": "Tax credits", "name": "Tax credits" }, { "source": "LIV", "id": "Low-income housing", "name": "Low-income housing" }, { "source": "LIV", "id": "Taxation", "name": "Taxation" }, { "source": "LIV", "id": "Welfare", "name": "Welfare" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc819235/", "id": "RS22389_2008Aug22", "date": "2008-08-22", "retrieved": "2016-03-19T13:57:26", "title": "An Introduction to the Design of the Low-Income Housing Tax Credit", "summary": "This report discusses the Low-Income Housing Tax Credit (LIHTC), which is a federal provision that reduces the income tax liability of taxpayers claiming the credit. These taxpayers are typically investors in real estate development projects that have traded cash for the tax credits to support the production of affordable housing. The credit is intended to lower the financing costs of housing developments so that the rental prices of units can be lower than market rates, and thus, presumably, affordable.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20080822_RS22389_2a50964aa9b99b6ef65e952cbb0df492b841093d.pdf" }, { "format": "HTML", "filename": "files/20080822_RS22389_2a50964aa9b99b6ef65e952cbb0df492b841093d.html" } ], "topics": [ { "source": "LIV", "id": "Housing", "name": "Housing" }, { "source": "LIV", "id": "Tax credits", "name": "Tax credits" }, { "source": "LIV", "id": "Low-income housing", "name": "Low-income housing" }, { "source": "LIV", "id": "Taxation", "name": "Taxation" }, { "source": "LIV", "id": "Welfare", "name": "Welfare" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc820505/", "id": "RS22389_2008Jun20", "date": "2008-06-20", "retrieved": "2016-03-19T13:57:26", "title": "An Introduction to the Design of the Low-Income Housing Tax Credit", "summary": "This report discusses the Low-Income Housing Tax Credit (LIHTC), which is a federal provision that reduces the income tax liability of taxpayers claiming the credit. These taxpayers are typically investors in real estate development projects that have traded cash for the tax credits to support the production of affordable housing. The credit is intended to lower the financing costs of housing developments so that the rental prices of units can be lower than market rates, and thus, presumably, affordable.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20080620_RS22389_712417352ed56f79bb6ef8fbcd9811fe44a8be0b.pdf" }, { "format": "HTML", "filename": "files/20080620_RS22389_712417352ed56f79bb6ef8fbcd9811fe44a8be0b.html" } ], "topics": [ { "source": "LIV", "id": "Housing", "name": "Housing" }, { "source": "LIV", "id": "Tax credits", "name": "Tax credits" }, { "source": "LIV", "id": "Low-income housing", "name": "Low-income housing" }, { "source": "LIV", "id": "Taxation", "name": "Taxation" }, { "source": "LIV", "id": "Welfare", "name": "Welfare" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc818152/", "id": "RS22389_2008Jan24", "date": "2008-01-24", "retrieved": "2016-03-19T13:57:26", "title": "An Introduction to the Design of the Low-Income Housing Tax Credit", "summary": "This report discusses the Low-Income Housing Tax Credit (LIHTC), which is a federal provision that reduces the income tax liability of taxpayers claiming the credit. These taxpayers are typically investors in real estate development projects that have traded cash for the tax credits to support the production of affordable housing. The credit is intended to lower the financing costs of housing developments so that the rental prices of units can be lower than market rates, and thus, presumably, affordable.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20080124_RS22389_4652b0ca72f2339c9748be9fc73b66911ad01944.pdf" }, { "format": "HTML", "filename": "files/20080124_RS22389_4652b0ca72f2339c9748be9fc73b66911ad01944.html" } ], "topics": [ { "source": "LIV", "id": "Housing", "name": "Housing" }, { "source": "LIV", "id": "Tax credits", "name": "Tax credits" }, { "source": "LIV", "id": "Low-income housing", "name": "Low-income housing" }, { "source": "LIV", "id": "Taxation", "name": "Taxation" }, { "source": "LIV", "id": "Welfare", "name": "Welfare" } ] }, { "source": "University of North Texas Libraries Government Documents Department", "sourceLink": "https://digital.library.unt.edu/ark:/67531/metacrs9134/", "id": "RS22389_2006Feb24", "date": "2006-02-24", "retrieved": "2006-08-10T14:44:59", "title": "An Introduction to the Design of the Low-Income Housing Tax Credit", "summary": "This report discusses the Low-Income Housing Tax Credit (LIHTC), which is a federal provision that reduces the income tax liability of taxpayers claiming the credit. These taxpayers are typically investors in real estate development projects that have traded cash for the tax credits to support the production of affordable housing. The credit is intended to lower the financing costs of housing developments so that the rental prices of units can be lower than market rates, and thus, presumably, affordable.", "type": "CRS Report", "typeId": "REPORT", "active": false, "formats": [ { "format": "PDF", "filename": "files/20060224_RS22389_ce469c3c4b79919f02d3042cea8b79406370b99a.pdf" }, { "format": "HTML", "filename": "files/20060224_RS22389_ce469c3c4b79919f02d3042cea8b79406370b99a.html" } ], "topics": [ { "source": "LIV", "id": "Housing", "name": "Housing" }, { "source": "LIV", "id": "Tax credits", "name": "Tax credits" }, { "source": "LIV", "id": "Low-income housing", "name": "Low-income housing" }, { "source": "LIV", "id": "Taxation", "name": "Taxation" }, { "source": "LIV", "id": "Welfare", "name": "Welfare" } ] } ], "topics": [ "Economic Policy" ] }