Talk:Low-Income Housing Tax Credit

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This article was the subject of a Wiki Education Foundation-supported course assignment, between 26 August 2021 and 24 December 2021. Further details are available on the course page. Student editor(s): Asd253.

Above undated message substituted from Template:Dashboard.wikiedu.org assignment by PrimeBOT (talk) 02:55, 17 January 2022 (UTC)

Untitled
Some changes that need to be made:

1) The section on maximum rents should mention that Section 8 rents can exceed the normal LIHTC maximums, and must mention that the maximum rent depends on the set-aside used (20-50 or 40-60).

2) Useful links would include the Novogradac & Company affordable housing resource center; the "blue book" issued by the Joint Economic Committee as part of TRA86; and the HUD LIHTC project database.

3) The annual limits on allocated credit ought to appear in here somewhere.

4) The cursory mention of tax-exempt bonds does not even mention that they are private-activity bonds, subject to the annual limits on such activity. —Preceding unsigned comment added by 24.147.60.246 (talk) 15:47, 15 January 2008 (UTC)

5) It seems to me that the article is internally inconsistent. In the opening paragraph, it says LIHTC accounts for "nearly 90%" of all affordable rental housing created in the US today. (Itself an unfortunate and confusing statement. I don't think the LIHTC "accounts" for anything. Maybe 90% of affordable housing projects take advantage of the LIHTC?) Later, it says "as much as 30 to 40% of all new multifamily construction has received a subsidy under the program." (Again, misleading wording. The LIHTC is hardly a "program" and doesn't "subsidize" anything. Well, indirectly, I guess.

In general, the language throughout mischaracterizes what a tax credit is. Yes, I guess it has the EFFECT of "subsidizing" or "providing funding," but in fact it does neither. Instead, it provides an incentive for action. The IRS says, "if you spend money doing this thing over here then we promise to reduce your tax owed next year by the same amount." I think it's slightly different.Speonjosh (talk) 18:34, 24 May 2010 (UTC)

Current Economic Crisis
There should be a section in this article that covers the current economic crisis and its affects on the tax credit market. I would need to find some sources that talk about the state of the equity market. If I can do that in the next couple of days, I will write something up and put it in the article. GrantHenninger (talk) 06:52, 26 November 2008 (UTC)

I have updated this to reflect the changes in the LIHTC market brought on by the financial crisis. HousingPolicy1 (talk) 15:55, 18 November 2010 (UTC)

It is not true that only C-corporations can invest in tax credits. Also, the reference cited for this statement does not address the statement in any way. Another reference should be provided. There are certainly many that would be available. — Preceding unsigned comment added by 216.61.185.150 (talk) 20:46, 13 February 2012 (UTC)

Industry Websites
There are several websites listed in this section that I do not necessarily think should be there. I did not make the revisions as I would like to see it discussed first. But I think this section should be relegated to websites that contain industry information that do no stand to financially gain from inclusion on this list with the exception of the different associations that issue compliance designations such as AHMA and others. If that standard is not upheld then the industry website section will become overrun with companies advertising on a wiki entry. If that's the case I will gladly add the company I work for to get free advertising. —Preceding unsigned comment added by 65.203.230.123 (talk) 22:04, 29 December 2008 (UTC)

Notes and sources
This article has no footnotes or sources listed. —Preceding unsigned comment added by 74.130.169.122 (talk) 04:46, 26 May 2010 (UTC)

Tag as POV?
If this article as it stands is balanced, then no one opposes this tax credit, or for that matter feels that it should be greatly enlarged. I looked in vain for a "Criticisms" section. I'm generally a pro-government-program type, and I feel that this article lacks balance. Does anyone else agree? -- Thanks -- Jo3sampl (talk) 18:13, 25 April 2013 (UTC)

Incentives?
"The United States Tax Reform Act of 1986 (TRA86) adversely affected many investment incentives for rental housing while leaving incentives for home ownership. Since low-income people are more likely to live in rental housing than in owner-occupied housing, this would have decreased the new supply of housing accessible to them"

This is a very naive and eclectic way of saying that public housing has been defunded and dismantled to allow for private profit which is the reason for the skyrocketing homelessness rate. What has "decreased the supply of housing accessible to them" is the fact that Public Housing and the first privatization program called Section 8, have consistently been defunded. There is no lack of investment in multi family apartments! Just look at all the new developments in regentrified areas! Real Estate investment, both apartment buildings and homes has never decreased! Working people cannot access housing not because there is a lack of new housing but because it is unaffordable!

The fact that someone with money can purchase private property and invest in it and live off of others is no hindrance to their "incentives" with or without TRA86. There is also an assumption in the above quoted sentence that the more "incentives" there are for private property investors and developers the more available housing there is to the poor. — Preceding unsigned comment added by 2601:540:C001:7708:50B6:CC59:F82F:CF03 (talk) 21:08, 2 September 2015 (UTC)

Assessment comment
Substituted at 22:33, 29 April 2016 (UTC)

"Affordable Housing"
"Affordable Housing" is a term for the dismantling and defunding of safe, affordable housing for workers and their families. "Affordable Housing" is a privatization scheme to augment the wealth of private property investors and developers using tax payers money. It is the cause of the worst homelessness crisis in US history. I would seek alternative information on this subject — Preceding unsigned comment added by 2601:540:C400:8C80:C523:6E7F:131E:F088 (talk) 19:47, 15 September 2017 (UTC)

External links modified
Hello fellow Wikipedians,

I have just modified 6 external links on Low-Income Housing Tax Credit. Please take a moment to review my edit. If you have any questions, or need the bot to ignore the links, or the page altogether, please visit this simple FaQ for additional information. I made the following changes:
 * Added archive https://web.archive.org/web/20100611041420/http://www.rentalhousingaction.org/about-action/the-proposals to http://rentalhousingaction.org/about-action/the-proposals
 * Added archive https://web.archive.org/web/20100611103406/http://www.rentalhousingaction.org/about-action/about-action to http://rentalhousingaction.org/about-action/about-action
 * Added archive https://web.archive.org/web/20100307093109/http://portal.hud.gov/portal/page/portal/RECOVERY/programs/TCAP_RESOURCES/TCAP%20FUNDING%20NOTICE.PDF to http://portal.hud.gov/portal/page/portal/RECOVERY/programs/TCAP_RESOURCES/TCAP%20FUNDING%20NOTICE.PDF
 * Added archive https://web.archive.org/web/20100527203807/http://www.ustreas.gov/recovery/docs/LIH_fact-sheet.pdf to http://www.ustreas.gov/recovery/docs/LIH_fact-sheet.pdf
 * Added tag to http://www.nahb.org/hccp
 * Added archive https://web.archive.org/web/20101127072609/http://nahma.org/content/shcm.html to http://www.nahma.org/content/shcm.html
 * Added archive https://web.archive.org/web/20120325070138/http://www.nefinc.org/section/aboutus/about_credits to http://www.nefinc.org/section/aboutus/about_credits

When you have finished reviewing my changes, you may follow the instructions on the template below to fix any issues with the URLs.

Cheers.— InternetArchiveBot  (Report bug) 13:53, 7 January 2018 (UTC)

Entire sections have no citations
This article seems very well written and informative, but MOST sections have NO REFERENCES AT ALL.

While most of the info in this article likely has been appropriately sourced from the listed references, it would be nice to have some idea (maybe at the end of each paragraph) WHERE the information comes from. This would help in allowing people to update dated statements as laws and procedures change.

Thanks, Wikipedians!! Avatar317 (talk) 01:21, 21 January 2018 (UTC)Avatar317

Notification: Housing in the United States
A request has been submitted to WikiProject United States for a new article to be created on the topic of Housing in the United States. Please join the discussion or consider contributing to the new article. Best regards, -- M2545 (talk) 08:22, 4 November 2020 (UTC)