Tax Credits: The Use of Tenant-Based Assistance in Tax-Credit-Supported Properties Page: 1 of 12
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United States
General Accounting Office
Washington, D.C. 20548
Resources, Community, and
Economic Development Division
B-283562
September 17, 1999
The Honorable Andrew M. Cuomo
The Secretary of Housing and Urban Development
Subject: Tax Credits: The Use of Tenant-Based Assistance in Tax-Credit-Supported
Properties
Dear Mr. Secretary:
In March 1997, we issued a report' on the characteristics of residents and properties that
have benefited from the Low-Income Housing Tax Credit program. Under this program,
the states are authorized to allocate federal tax credits as an incentive for the private
sector to develop or substantially rehabilitate rental housing for low-income households.
The program is currently the largest source of federal funds for this purpose. In addition,
the federal government provides rental assistance, either directly to tenants, through
vouchers (tenant-based rental assistance), or to property owners, for units under contract
with the government (property-based rental assistance). Both types of rental assistance
may be used with tax credits.
Some months after we issued our report, we began working with your Office of Policy
Development and Research on several issues that the Office is studying in connection
with the Low-Income Housing Tax Credit program. One of these issues is the use of
tenant-based rental assistance in tax-credit-supported properties. At the Office's request,
we further analyzed some of the data relevant to this issue that we collected for our
March 1997 report. The enclosures contain our analyses. Enclosure I provides our
estimate of the number of properties and households that received rental assistance.
Enclosure II provides information on certain characteristics of households that received
tenant-based rental assistance, property-based rental assistance, and no rental assistance.
Enclosure I focuses exclusively on properties in which at least one household received
tenant-based rental assistance. The tables in this enclosure analyze the extent to which
teriant-based rental assistance was used.
'Tax Credits: Opportunities to Improve Oversight of the Low-Income Housing Program (GAO/GGDIRCED-97-55, Mar. 28,
1997).
GAO/RCED-99-279R Tenant-Based Assistance at Tax Credit Properties
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United States. General Accounting Office. Tax Credits: The Use of Tenant-Based Assistance in Tax-Credit-Supported Properties, text, September 17, 1999; Washington D.C.. (https://digital.library.unt.edu/ark:/67531/metadc302004/m1/1/: accessed April 24, 2024), University of North Texas Libraries, UNT Digital Library, https://digital.library.unt.edu; crediting UNT Libraries Government Documents Department.