State LIHTCs

Low-Income Housing Tax Credit:

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.