Number: RS22389
Title: An Introduction to the Design of the Low-Income Housing Tax Credit
Authors: Mark Patrick Keightley, Government and Finance Division 
Abstract: The Emergency Economic Stabilization Act of 2008 (EESA), P.L. 110-343, includes a temporary change to the LIHTC with the intent of assisting victims of Hurricane Ike and the severe weather and flooding in the Midwest. Specifically, EESA allows certain states to allocate additional credits to affected areas for the years 2009, 2010, and 2011. For states located in the Midwestern disaster area the additional allocation is equal to $8.00 multiplied by the state's disaster area population. For the two states most directly affected by Hurricane Ike, Texas and Louisiana, the additional allocation is equal to $16.00 multiplied by the state's population residing in affected counties/parishes.
Pages: 6
Date: October 15, 2008