On May 23, 2018, Congress significantly changed the Low Income Housing Tax Credit (LIHTC) program by allowing for “income averaging” in developments. Through income averaging, a development may elect to have tax credit rents reach a higher income population than previously allowed in exchange for serving a greater number of lower income tenants. Income averaging … Continue reading June 26, 2018: What Do Advocates Need to Know About the New Income Averaging Rules for LIHTC Properties?