Low-income Housing Tax Credits and the Role of Tax Policy in Preserving the Stock of Low-income Housing: Hearings Before the Subcommittee on Select Revenue Measures of the Committee on Ways and Means, House of Representatives, One Hundredth Congress, Second Session, March 2 and 3, 1988, Volume 4

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Page 231 - Another problem with the present depreciation provisions is that they provide the same tax incentive to all real estate construction. This, in fact, tends to discriminate against the less profitable investments, particularly low income housing. In the 1968 Housing Act, the Congress expressed its desire to...
Page 232 - The Congress affirms the national goal, as set forth in section 2 of the Housing Act of 1949, of "a decent home and a suitable living environment for every American family." The Congress finds that this goal has not been fully realized for many of the Nation's lower income families; that this is a matter of grave national concern...
Page 386 - Charles B. Rangel, Chairman Subcommittee on Select Revenue Measures Committee on Ways and Means...
Page 1 - ... and may not exceed a total of 10 pages. 2 Copies of whole documents submitted as exhibit material will not be accepted for printing. Instead, exhibit material should be referenced and quoted or paraphrased.
Page 356 - ... percent of their income for rent. Since 1981, gross rents for a representative rental unit have increased 14 percent faster than prices generally, reaching a median level of $364 in 1987. Inflation-adjusted rents today are at their highest level in two decades.
Page 1 - ... witness appears or for whom the statement is submitted. 4 A supplemental sheet must accompany each statement listing the name, full address, a telephone number where the witness or the designated representative may be reached and a topical outline or summary of the comments and recommendations m the full statement.
Page 317 - HUD for universal use as a basic beginning point for negotiations with 18 ( 1 ) As soon as possible but in any event no later than the seventeenth anniversary of final endorsement, every project should be appraised to determine its market value at its highest and best use— absent of any regulatory constraints and/or any rent subsidy. (2) In order to evaluate properly the cost of retaining the project in the low and moderate income housing inventory, the market value, as determined above, should...
Page 231 - trickle down" supply effect for the lower income rental housing market is slow and uncertain in a growing general housing market. Capital and other resource demands engendered by the existing tax stimuli...
Page 298 - Chief Counsel Committee on Ways and Means US House of Representatives 1102 Longworth Office Building Washington, DC 20515 Dear Mr.

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