Low Income Housing Tax Credit (LIHTC)

The Low-Income Housing Tax Credit (LIHTC) Program, created by the Tax Reform Act of 1986, is intended to encourage the construction or rehabilitation of low-income rental units. The regulations which govern this Program are contained in Section 42 of the Internal Revenue Code. This program provides Federal tax credits to qualified project owners who agree to maintain all or a portion of a project's units of low-income individuals or families. Under the Commonwealth of the Northern Mariana Islands (CNMI), the Northern Marianas Housing Corporation (NMHC) has been designated as the agency responsible for the administration of the Federal LIHTC program for the CNMI. 


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