The 1980s Housing Tax Credit Boosting Affordable Homes

The 1980s Housing Tax Credit Boosting Affordable Homes

A little-known federal program introduced when Ronald Reagan was president could now help North Carolina build $1.47 billion in affordable apartments, offering much-needed relief to homebuyers and creating thousands of jobs. The Low-Income Housing Tax Credit (LIHTC) was created under the Tax Reform Act of 1986 and started allocating credits nationwide a year later. The program incentivizes private developers to build or rehabilitate affordable r…