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The LIHTC, approved in 1986, was the legislative response to significant changes in government housing policies.
FORBES: For the 21st Century, a Network of Beneficial Philanthropy and Corporate Citizenship
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The process set in motion with the LIHTC saw corporations provide capital in exchange for federal tax credits.
FORBES: For the 21st Century, a Network of Beneficial Philanthropy and Corporate Citizenship
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With the LIHTC, the government would create incentives for powerful alliances of banks, nonprofit organizations and corporate investors to build low-income housing.
FORBES: For the 21st Century, a Network of Beneficial Philanthropy and Corporate Citizenship
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The passive-loss provision from 1981 worked in tandem with the LIHTC to allow corporations to double-dip when it came to applying federal tax incentives.
FORBES: For the 21st Century, a Network of Beneficial Philanthropy and Corporate Citizenship
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On a larger scale, Low Income Housing Tax Credit (LIHTC) funds like this one could potentially help the economy by spurring real estate development and investment.
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The money will go into a Low Income Housing Tax Credit (LIHTC) that will give tax credits to builders and developers of homes for low-income families and senior citizens.
FORBES: Why is Google Getting Involved in Real Estate?
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The most successful example of this case in recent years is the Low-Income Housing Tax Credit (LIHTC), the 1986 provision to the federal tax code that sparked a revolution in urban redevelopment and resulted in an upsurge of new organizations and activities to promote the development of low-income housing.
FORBES: For the 21st Century, a Network of Beneficial Philanthropy and Corporate Citizenship
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In fact, the LIHTC became a catalyst for one of the most significant injections of corporate dollars into the inner city in the history of this country, providing tax abatements for corporations and giving rise to a host of community-based housing developers and the nonprofit, locally based organizations that lobbied for more housing for low-income individuals and families.
FORBES: For the 21st Century, a Network of Beneficial Philanthropy and Corporate Citizenship