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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 housing mix. Savannah City Council was in the middle of a loaded 60-item agenda Thursday when Mayor Van Johnson put a quick pause to business. He needed to announce the fairgrounds project had ...
If housing is too expensive, policymakers must address the issues driving up costs. The Low-Income Housing Tax Credit, like so many other policies, merely throws taxpayer money at the problem. It ...
The Volunteer Income Tax Assistance (VITA) grant program is an Internal Revenue Service (IRS) initiative in the United States that supports free tax preparation service for the underserved through various partner organizations. VITA service helps low- to moderate-income individuals, persons with disabilities, the elderly, and limited English ...
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.
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