In how many years must a LIHTC property remain in compliance with the program requirements?

The correct response highlights the structure of the Low-Income Housing Tax Credit (LIHTC) program, which mandates that a property must adhere to specific compliance requirements for a certain duration. Initially, the property is required to comply for 15 years, which is referred to as the initial compliance period.

Following this period, there is an additional 15-year extended use period, making the total possible compliance duration 30 years. This design aims to ensure that the benefits of affordability and the preservation of low-income housing are sustained over a significant timeframe. Therefore, the requirement of 15 years for the initial period, coupled with the opportunity for a further 15 years of compliance, confirms that the LIHTC properties must maintain their affordable status for at least 30 years. This structure is essential for both investors and residents, as it assures long-term accessibility to affordable housing solutions.