These are families that work hard to pay their rents. They are families with children who, with this little help, can live in a decent environment and can feel better about themselves and perform better in school. This is a growing trend and there are examples all across the country, but one of the most successful examples is in Speaker Gingrich's district in Georgia. The tax credit program works because investors, who have many options in their investments, receive a fair return. Unlike many investments, however, tax credit investors must be willing to give up liquidity and be able to invest over a long time.
Many states encourage properties to be maintained as affordable for at least thirty years.
The extended compliance period has serious implications for our investors, but that is a topic for another time. In summary, Madame Chairman, WNC is committed to work with Congress in developing any legislative and regulatory changes Congress will be considering.