Celebrating the Low-Income Housing Tax Credit’s 30th Anniversary

Published by Michael Novogradac on Monday, February 15, 2016 - 12:00am

Thirty years ago this fall–Oct. 22, 1986–President Ronald Reagan signed the Tax Reform Act of 1986, which included the federal low-income housing tax credit (LIHTC). That program became what the National Association of Home Builders calls, “the most successful affordable rental housing production program in our history.”

It’s been 30 years of adjustments, extensions, evaluations and court rulings en route to housing more than 13 million people. As noted in this illustration, the history of the LIHTC is a long, winding road that continues with the recent enactment of a permanent 9 percent minimum rate.

 

Blog Graph The Low-Income Housing Tax Credit Through the Years
Click to Enlarge