The U.S. Government Accountability Office today published a report investigating the role of syndicators in the Low Income Housing Tax Credit Industry. GAO surveyed 32 syndicators, 19 for-profit and 13 nonprofit, and reports on things like the value syndicators bring to the industry and their typical fee structure. Since 1986, the surveyed syndicators have collectively raised more than $100B in tax credits equity. The report makes no recommendations.