Untitled Document
Congress created the Low Income Housing Tax Credit (Housing Credit) in 1986
to encourage the construction and rehabilitation of apartments affordable to
low-income families by offering a credit or reduction in tax liability for 10
years for the owners or developers of such housing. Housing Credits are
allocated by states under a plan each state develops to evaluate competing
apartment developments against state and local housing needs. Each year the
Housing Credit induces several billion dollars of private investment to produce
nearly 130,000 apartments affordable to low income families, the elderly, and
other special needs populations for a minimum of 30 years.
Recent Developments
Click here to access the Housing Credit Reference Library for more information.
