Housing Assistance: An Inventory of Fiscal Year 2010 Programs, Tax Expenditures, and Other Activities
U.S. Government Accountability Office
Tax Credit Assistance Program (TCAP)
Administering Agency/Entity | Department of Housing and Urban Development |
Short Description | Provides gap financing for multifamily housing to be used by state housing finance agencies (HFA) in the form of grants or loans for capital investment in Low-Income Housing Tax Credit (LIHTC) projects. The American Recovery and Reinvestment Act of 2009 appropriated funds for HUD to award TCAP grants by formula to state housing credit agencies to complete construction of qualified housing projects. |
Primary Purpose | Emergency assistance to housing market or current homeowner |
Type of Housing Supported | Rental Housing |
Type of Assistance | Grant; Loan |
Fiscal Year 2010 Obligations | None; during fiscal year 2009, the American Recovery and Reinvestment Act of 2009 provided $2.25 billion to the HOME program to make available to state housing credit agencies for LIHTC projects through a formula-based allocation. All of the appropriated funds were obligated in fiscal year 2009. |