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.

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

• When income limits applicable to HOME and the LIHTC program conflict, the more restrictive (i.e., lower) income limit will apply.

• In the event other financing sources, including but not limited to the LIHTC program, allow a higher rent, the HOME rent limits shall continue to apply to any HOME Units.

• Asset Management- WHEDA provides comprehensive asset management services for WHEDA-financed and LIHTC projects.

• HUD Section 8 Contract Administration - provide Performance Based Contract Administration (PBCA), Traditional Contract Administration (TCA), Housing Choice Voucher Program administration, HAP special claims processing, contract renewals, rent adjustments, utility analysis for WHEDA-financed and LIHTC portfolios.

• If a HOME tenant’s income increases at re-certification to greater than 80% of AMI, and the unit is not subject to LIHTC rent restrictions, Owner shall first increase the rent for the over-income tenant to the lesser of (i) 30% of the tenant’s adjusted income, or (ii) the “market rent” for the unit (i.e., what the unit would be projected to rent for in the local market absent any income or rent restrictions imposed by HOME, LIHTC, or other such programs).

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 Low Income Housing Tax Credits.

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.