Low-Income Housing Tax Credit

E12422
U.S. federal tax incentive program affordable housing program tax expenditure

The Low-Income Housing Tax Credit is a U.S. federal tax incentive program that encourages private investment in affordable rental housing for low-income households.

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All labels observed (5)

Label Occurrences
Low-Income Housing Tax Credit canonical 5
California Low-Income Housing Tax Credit program 1
LIHTC 1

Statements (49)

Predicate Object
instanceOf U.S. federal tax incentive program ⓘ
affordable housing program ⓘ
tax expenditure ⓘ
administeredBy Internal Revenue Service ⓘ
state housing finance agencies ⓘ
affordabilityStandard rent limits based on area median income ⓘ
tenant income limits based on area median income ⓘ
allocationAuthority United States Congress ⓘ
surface form: U.S. Congress
allocationMethod per-capita state allocation ⓘ
alsoKnownAs Low-Income Housing Tax Credit ⓘ
surface form: LIHTC

Section 42 credit ⓘ
beneficiary equity investors ⓘ
low-income renters ⓘ
private housing developers ⓘ
benefits federal income tax credits to private investors ⓘ
compliancePeriod minimum 15 years ⓘ
country United States of America ⓘ
surface form: United States
creditPeriod 10 years ⓘ
distinctFrom Section 8 Housing Choice Voucher Program ⓘ
surface form: Housing Choice Voucher Program

public housing program ⓘ
eligibleProperties acquisition and rehabilitation of existing rental housing ⓘ
newly constructed rental housing ⓘ
substantially rehabilitated rental housing ⓘ
enactedBy Tax Reform Act of 1986 ⓘ
enactmentYear 1986 ⓘ
extendedUsePeriod at least 30 years in many states ⓘ
financingStructure syndicated to equity investors ⓘ
fundingForm foregone federal tax revenue ⓘ
housingType rental housing ⓘ
implementedBy state housing credit allocation plans ⓘ
legalBasis Internal Revenue Code ⓘ
surface form: Section 42 of the Internal Revenue Code
mechanism dollar-for-dollar reduction in federal income tax liability ⓘ
monitoredBy state housing finance agencies ⓘ
oversight Internal Revenue Service compliance monitoring rules ⓘ
policyGoal leverage private capital for affordable housing production ⓘ
promote mixed-income and community development ⓘ
policyType supply-side housing subsidy ⓘ
primaryUsers for-profit developers ⓘ
nonprofit housing developers ⓘ
purpose encourage private investment in affordable rental housing ⓘ
increase supply of rental housing for low-income households ⓘ
relatedLegislation Housing and Economic Recovery Act of 2008 ⓘ
Omnibus Budget Reconciliation Acts of the 1980s ⓘ
surface form: Omnibus Budget Reconciliation Acts affecting credit allocation
requires annual reporting by property owners ⓘ
income limits for tenant eligibility ⓘ
long-term affordability restrictions ⓘ
rent restrictions ⓘ
sector affordable housing finance ⓘ
targetPopulation low-income households ⓘ

Referenced by (9)

Full triples — surface form annotated when it differs from this entity's canonical label.

Capital Magnet Fund → relatedTo → Low-Income Housing Tax Credit ⓘ
United States housing policy → includesProgram → Low-Income Housing Tax Credit ⓘ
NMTC Program → relatedTo → Low-Income Housing Tax Credit ⓘ
Section 8 Housing Choice Voucher Program → relatedTo → Low-Income Housing Tax Credit ⓘ
this entity surface form: Low-Income Housing Tax Credit program
Low-Income Housing Tax Credit → alsoKnownAs → Low-Income Housing Tax Credit ⓘ
this entity surface form: LIHTC
Oregon Housing and Community Services → administers → Low-Income Housing Tax Credit ⓘ
this entity surface form: Low-Income Housing Tax Credit program in Oregon
HOME Program → canBeCombinedWith → Low-Income Housing Tax Credit ⓘ
California Tax Credit Allocation Committee → governingBodyOf → Low-Income Housing Tax Credit ⓘ
this entity surface form: California Low-Income Housing Tax Credit program
California Tax Credit Allocation Committee → typeOfTaxCredit → Low-Income Housing Tax Credit ⓘ