NAA/NMHC suggest LIHTC improvements.NAA/NMHC are working with a broad coalition of organizations to seek legislation to address the severe loss of investor capital in the Low-Income Housing Tax Credit The Low Income Housing Tax Credit (LIHTC; often pronounced "lye-tech") is a tax credit created under the Tax Reform Act of 1986 (TRA86) that gives incentives for the utilization of private equity in the development of affordable housing aimed at low-income Americans. (LIHTC LIHTC Low-Income Housing Tax Credit (program) ) program.
In a letter to Congress, NAA/NMHC and other organizations proposed these steps to bolster This article is about the pillow called a bolster. For other meanings of the word "bolster", see bolster (disambiguation).
A bolster (etymology: Middle English, derived from Old English, and before that the Germanic word bulgstraz the LIHTC program:
* Extend the Housing Credit Exchange Program for another year to maintain the development pipeline in 2010. It should also be modified to include the 4 percent housing credits that accompany tax-exempt multifamily housing bonds.
* Increase the carry back from one to five years to stimulate LIHTC investment demand.
* Broaden the investor base by allowing some S corporations, LLCs and closely held A phrase used to describe the ownership, management, and operation of a corporation by a small group of people.
In a closely held corporation, the same people often act as shareholders, directors, and officers, and no outside investors exist. C corporations to offset revenue with housing credit tax benefits.
Lawmakers have expressed a desire to pass a legislative package addressing the LIHTC program before the end of the year.