LIHTC definition

LIHTC means the low-income housing tax credit established by TRA 1986 and which is provided for in Section 42 of the Code, as amended, or any successor thereto.

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LIHTC or “Tax Credit” means the Low-Income Housing Tax Credits issued under I.R.C. § 42.

LIHTC means low-income housing tax credits and federal tax incentives created through the Tax Reform Act of 1986 and allocated through IFA for affordable rental housing development.

Examples of LIHTC in a sentence

• In this connection, not later than December 31 of the first year in which the Partners elect the LIHTC to commence in accordance with the Code, the Apartment Housing will satisfy the Minimum Set-Aside Test.

• Consistent with the foregoing, the Partners intend that LIHTC will be allocated 99.98% to the Limited Partner, 0.01% to the Special Limited Partner and 0.01% to the General Partner.

• The purpose of the Partnership is to acquire, construct, own and operate the Apartment Housing in order to provide, in part, Tax Credits to the Partners in accordance with the provisions of the Code and the Treasury Regulations applicable to LIHTC and to sell the Apartment Housing.

• The purpose of the Partnership is to acquire, construct, own and operate the Project in order to provide, in part, Tax Credits to the Partners in accordance with the provisions of the Code and the Treasury Regulations applicable to LIHTC and to sell the Project.

• In this connection, not later than December 31 of the first year in which the Partners elect the LIHTC to commence in accordance with the Code, the Project will satisfy the Minimum Set-Aside Test.

More Definitions of LIHTC

LIHTC or “Tax Credit” means a tax credit awarded under the Low Income Tax Credit program of IRC Section 42.

LIHTC means the Low-Income Housing Tax Credit program, a program of the Internal Revenue Service that provides federal income Tax Credits to Owners of qualifying residential rental Projects.

LIHTC or “Tax Credit” means the Low‐Income Housing Tax Credit program under I.R.C. § 42.

LIHTC or “Tax Credit” means the Low‐Income Housing Tax Credits issued under I.R.C. § 42.

LIHTC means the federal low-income housing tax credits as provided in § 42 of the IRC, as amended.

LIHTC refers to federal low income housing tax credits under Section 42 of the Internal Revenue Code.

LIHTC means Low Income Housing Tax Credits.