Affordable Rental Housing ACTION released the newest numbers on how Low Income Housing Tax Credits continue to benefit individual states, including the state of Indiana.
Low Income Housing Tax Credits were created in 1986 as part of the Tax Reform Act. The tax credits are utilized in private-public partnerships, where the investor takes the risk on the investment. Tax credits are awarded based on proper management of affordable housing.
LIHTC in Indiana - by the numbers
50,461 - Number of affordable apartments created
58,535 - Number of jobs created
$4.4 billion - Local income created
$434 million - State and local revenue generated
$1.3 billion - Federal revenue generated
Click here to see the latest Indiana fact sheet in its entirety.
Posted in: LIHTC