Low-Income Housing Credit

URI: https://gptkb.org/entity/Low-Income_Housing_Credit
GPTKB entity
Statements (24)
Predicate Object
gptkbp:instanceOf gptkb:tax_law
gptkbp:administeredBy gptkb:Internal_Revenue_Service
gptkbp:allocationAuthority gptkb:state_housing_finance_agencies
gptkbp:alsoKnownAs gptkb:Low-Income_Housing_Tax_Credit
gptkb:LIHTC
gptkbp:appliesTo qualified low-income rental housing projects
gptkbp:benefit tax credits for private investors
gptkbp:compliancePeriod 15 years
gptkbp:countryOfOrigin gptkb:United_States
gptkbp:duration 10 years
gptkbp:eligibility rent restrictions
income limits for tenants
gptkbp:enactedBy gptkb:Tax_Reform_Act_of_1986
gptkbp:fundedBy federal tax credits allocated to states
https://www.w3.org/2000/01/rdf-schema#label Low-Income Housing Credit
gptkbp:impact creation of millions of affordable housing units
gptkbp:purpose encourage investment in affordable rental housing
gptkbp:recaptureProvision yes
gptkbp:relatedLegislation gptkb:Housing_and_Economic_Recovery_Act_of_2008
gptkbp:relatedTo Section 42 of the Internal Revenue Code
gptkbp:targetAudience low-income households
gptkbp:website https://www.irs.gov/businesses/small-businesses-self-employed/low-income-housing-credit
gptkbp:bfsParent gptkb:United_States_federal_income_tax
gptkbp:bfsLayer 7