Rental Housing: Costs and Benefits of Financing With Tax-Exempt Bonds
RCED-86-2
Published: Feb 10, 1986. Publicly Released: Feb 10, 1986.
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Highlights
Pursuant to a congressional request, GAO reviewed the use of tax-exempt bonds in financing the construction and rehabilitation of multifamily rental housing, specifically: (1) how much the program costs the federal government; (2) whether projects financed with tax-exempt bonds are complying with occupancy requirements for low- and moderate-income households; and (3) who benefits from the program and how.
Recommendations
Recommendations for Executive Action
| Agency Affected | Recommendation | Status |
|---|---|---|
| Department of the Treasury | The Secretary of the Treasury should amend the implementing regulations of the Internal Revenue Code (IRC) to require that an adjustment be made for household size when identifying a household's income as low or moderate. |
Closed – Implemented
The Department of the Treasury issued regulations in November 1985.
|
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Topics
Bonds (securities)Housing constructionHousing programsLow income housingRental housingTaxesTenantsBail bondsTax-exempt bondsMortgage market