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What is the Illinois Affordable Housing Tax Credit (IAHTC)?

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  The Illinois Affordable Housing Tax Credit (IAHTC) program encourages private investment in affordable housing by providing donors to qualified non-profit affordable housing sponsors with a tax credit on their Illinois state income tax equal to 50% of the donation. Rental and for-sale housing developments are eligible assuming they meet income limits. Many states offer…

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What is “Recapture”

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A recapture, or taking back, of LIHTCs occurs when a project violates requirements of the program.  Typical recapture occurs when the project fails to meet the minimum set-aside requirements by the end of each taxable year.  This can occur if the project or building fails to meet the requirements in the first, or subsequent, tax…

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