State LIHTCs

2009 State Tax Credit Information

* Please note these figures refer to state Low-Income Housing Tax Credit programs - not the federal LIHTC program. Amounts of federal LIHTCs available for each state can be found here. The following chart is intended for summary-purposes only. As state LIHTC programs vary widely, we recommend that you gather complete details from the appropriate state agency. Some of the information listed below is based on estimates.

Please e-mail cpas@novoco.com with any questions or with additional information about programs in your state.

State	Estimated Tax Credits Available in 2009	Bifurcated from Federal LIHTC?	Credit Period	Type of Credit#
Arkansas	$250,000	No	Up to 15 years	Other
California	$84,921,473	Yes	4 years	Other
Connecticut	TBD	TBD	TBD	TBD
Georgia	$22,000,000	Yes	10 years	Both
Hawaii	$1,475,896	Yes	10 years	Both
Illinois	$13,810,690	Yes	10 years	Other
Massachusetts	$10,000,000	Yes	5 years	Other
Missouri	TBD	TBD	TBD	TBD
New Mexico	$3,811,987	Yes	5 years	Other
New York	TBD	TBD	TBD	TBD
North Carolina	Contact NCHFA for information	N/A	N/A	Other
Puerto Rico	TBD	TBD	TBD	TBD
Oregon	TBD	TBD	TBD	TBD
Utah	$342,053	No	15 years	Other
Vermont	$400,000	Yes	5 years	Other
Virginia	$500,000	Yes	5 years	Other

TBD indicates that estimates are still to be determined. Novogradac & Company LLP is currently updating this information with the appropriate state agency.

# Type of credit = is the state LIHTC a 9 percent credit, 4 percent credit, or another type of credit

* Indicates that this one time credit can be claimed anytime during a five year period.
** Indicates that Oregon state-LIHTCs are not sold at all; banks with a state tax liability get the credits in exchange for a 4 percent interest rate reduction on the permanent loan.
***May be carried back 3 years and forward 5 years where credit exceeds tax.