In 1986, the low-income housing tax credit (LIHTC) program was born through the federal Tax Reform Act as a way to provide an alternative financing method for low-incoming housing and encourage the investment of private capital in the development of affordable rental properties. To receive LIHTC benefits, owners of qualifying rental properties had to comply with low-income occupancy requirements for a minimum of 15 years. In 1989, the LIHTC program changed its compliance requirements to a minimum of 30 years for any property receiving tax credit allocation inl990 or thereafter.
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