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Monday, October 12, 2009 - 8:00AM

A study by Ernst & Young (E&Y) and commissioned by Enterprise Community Partners, Inc. and Local Initiatives Support Corporation (LISC) has confirmed that LIHTC investment activity has fallen dramatically in the last two years but would increase significantly in the near term if Congress enacted legislation allowing a five-year carryback of LIHTCs instead of the current one-year carryback. This would amount to $5 billion more of investment nationally through 2011. The study was undertaken to gain a better understanding of the LIHTC investment market and to analyze investor response to certain legislative proposals, including the five-year carryback. The Affordable Housing Tax Credit Coalition, Enterprise Community Partners Inc., LISC, the Affordable Housing Investors Council and E&Y worked for several months to produce the report.

Michael Novogradac and Buzz Roberts provide a more in-depth discussion of the study and the carryback proposal in October’s Novogradac Journal of Tax Credit Housing.

The carryback proposal and other pending legislation will also be the topics discussed at Novogradac’s Tax Credit Housing Finance Conference in Las Vegas, Nev. on December 3-4, 2009.

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