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In projects funded with Low Income Housing Tax Credits (LIHTC), with respect to any building, the span of taxable years begining with the taxable year in which the building is placed in service. The taxpayer may elect instead to designate the succeeding taxable year, but only if the building is a qualified low-income building as of the close of the first year of such period.<\/p>", "inDefinedTermSet": "https://affordablehousingonline.com/glossary" },

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Credit Period (LIHTC)

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In projects funded with Low Income Housing Tax Credits (LIHTC), with respect to any building, the span of taxable years begining with the taxable year in which the building is placed in service. The taxpayer may elect instead to designate the succeeding taxable year, but only if the building is a qualified low-income building as of the close of the first year of such period.