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THE LOW-INCOME HOUSING TAX CREDIT
| Content Provider | Scilit |
|---|---|
| Author | Schwartz, Alex F. |
| Copyright Year | 2006 |
| Description | This chapter provides a profile of the tax-credit housing completed through 2002. In 1990, Patrick Clancy, chief executive of one of the nation's largest non-profit housing developers, wrote that the Low-Income Housing Tax Credit combines the worst aspects of tax incentives and direct federal housing subsidy programs. In evaluating applications for low-income housing tax credits, some state housing finance agencies give extra weight to proposals that waive the developer's right to return the property to the state for a qualified contract. The Low-Income Housing Tax Credit has evolved from an esoteric financial instrument to the single most important source of equity for low-income rental housing in the United States. However, the market grew accustomed to the Low-Income Housing Tax Credit and Congress lifted the program's "sunset" provisions, thereby making it a permanent element of the Internal Revenue Code; thus, investors have paid increasingly more over time for tax-credit properties. Book Name: Housing Policy in the United States |
| Related Links | https://content.taylorfrancis.com/books/download?dac=C2009-0-01217-3&isbn=9780203955987&format=googlePreviewPdf |
| DOI | 10.4324/9780203955987-5 |
| Language | English |
| Publisher | Informa UK Limited |
| Publisher Date | 2006-04-05 |
| Access Restriction | Open |
| Subject Keyword | Book Name: Housing Policy in the United States Low Income Housing Housing Tax Credit Income Housing Tax |
| Content Type | Text |
| Resource Type | Chapter |
