GAO RELEASES REPORT ON EFFECT OF CRA ON LIHTC INVESTMENTS
The Government Accountability Office (GAO) today released a report on the Community Reinvestment Act’s (CRA’s) influence on low-income housing tax credit (LIHTC) equity investments. GAO found that CRA’s effects on LIHTC investment are difficult to quantify because regulatory ratings cannot be linked to banks’ LIHTC investments, among other reasons. It also found issues with assessing demand for LIHTCs and a lack of complete and reliable data about equity contributions.
You can learn more about the report’s significance by tuning in to Michael Novogradac’s Tax Credit Tuesday podcast on Oct. 2.