Affordable Housing and Tax Credit Developments Nationally25th Anniversary of the Low Income Housing Tax Credit (LIHTC) Program

October 25, 2011by George Danneman

This month marks the 25th anniversary of the federal Low Income Housing Tax Credit (LIHTC) program, which was part of the Tax Reform Act of 1986 signed into law by Ronald Reagan on Oct. 22, 1986.

Created to attract private financing for the construction and rehabilitation of affordable housing for low-income households, it has become the most effective affordable housing program to date.  According to the National Council of State Housing Agencies (NCSHA), the program has created over 2.4 million units of affordable housing across the country.  In addition, the program has generated $6.8 billion in income and 90,000 full time jobs per year.

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