Low-Income Housing Tax Credit


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Low-Income Housing Tax Credit

A dollar-for-dollar reduction in one's tax liability due to an investment in a housing complex for low and moderate income persons. The rent on this type of housing is controlled, so return on investment is minimal. The low-income housing tax credit provides some cash flow on these investments; as a result, it accounts for the vast majority of low-income housing investments in the United States. See also: Low-income housing limited partnership.
References in periodicals archive ?
Competition for the low-income housing tax credits is intense.
To participate, developers must set aside 25 percent of hard costs for low-income housing tax credit developments in the eligible counties.
677, which make improvements to the Mortgage Revenue Bond and Low-Income Housing Tax Credit programs, as well as the Renewing the Dream Tax Credit in the administration's FY 2003 budget proposal, which provides for a homeownership tax credit program for the rehabilitation or construction of homes for sale to low- and moderate-income families.
General Accounting Office also reported that the low-income housing tax credit program was "one of the most successful and efficient federal initiatives ever." Annually, the federal government spends approximately $3 billion on the low-income housing tax credit program.
A House committee last week dealt a deadly blow to a key housing program, voting to eliminate the low-income housing tax credit - the program that has served as the most important source of new low income housing construction in cities this decade.
Low-Income Housing Tax Credit Handbook, by Michael J.
Duncan's greatest strength is his expertise in securing low-income housing tax credit money, board member Ruth Stephens said.
California-based low-income housing tax credit syndicator (LIHTC) Alliant Capital, Ltd.
Lewis and Clark Apartments, LP, the debtor, owned an apartment complex that was a Low-Income Housing Tax Credit (LIHTC) program property.
The Internal Revenue Service (IRS) on May 2 issued final regulations (TD 9587) regarding owners' requests to housing credit agencies to obtain qualified contracts for the purpose of acquiring a Low-Income Housing Tax Credit (LIHTC) property.
Pointing to the continuing drop in housing affordability, the group wants the low-income housing tax credit increased and recommends the government use tax credits to encourage development of new technology in homes.
Additionally, we received funding and were awarded a low-income housing tax credit from the Pennsylvania Housing and Finance Agency.

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