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The Low Income Housing Tax Credit (LIHTC) program is the country’s largest source of federal subsidy for affordable housing. Since its inception, the program has financed more than 2.2 million housing units, accounting for about one-sixth of all rental housing in the country.1 Limited affordability periods, and the ability for property owners to “opt out” of the program after 15 years, have raised concerns about the loss of affordable units to market rate conversion, particularly in strong housing markets. Organizations that provide permanently affordable housing, often referred to as “shared equity” models, can ensure the affordability and stewardship of LIHTC housing in perpetuity and preserve public subsidies. In turn, the LIHTC program can more effectively utilize public dollars by funding the permanently affordable housing sector. Based on a review of Qualified Allocation Plans (QAPs) for all fifty states and Washington DC, this report identifies policies and preferences states have adopted to guide the allocation of LIHTC resources that can support permanently affordable housing.


This policy brief was developed out of a report produced by a team of graduate students in the Department of Planning and Urban Studies at the University of New Orleans for the Crescent City Community Land Trust. To see the report: