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What's the tax credit program?

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Question: What's the tax credit program?
Answer: The tax credit program, also known as the "federal low-income housing tax credit program" or simply LIHTC, is a popular affordable housing program that has been around since 1987. Unlike most housing programs that are administered by HUD, the tax credit program is administered by the IRS, in coordination with state housing finance agencies across the country. Landlords who participate in the program get to claim tax credits for 10 years for their tax credit properties in return for renting at least some of their apartments to low-income tenants at a restricted rent.

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