2007 State LIHTC Information

* Please note these figures refer to state low-income housing tax credit programs - not the federal LIHTC program. Please e-mail [email protected] with any questions or with additional information about programs in your state.

 

 

StateEstimated Tax Credits
Available in 2007
Bifurcated from Federal LIHTC?Credit Period
Arkansas$250,000Yes10 Years
California$79,600,000No4 Years
Connecticut$10,000,000Yes10 Years
Georgia$17,500,000Yes10 Years
Hawaii$1,243,314YesMatches Federal Period
Illinois$12,526,704Yes10 Years
Massachusetts$4,000,000Yes5 Years
Missouri$10,900,000Yes10 Years
New Mexico $500,000YesOne Time Credit*
New York$2,000,000Unknown10 Years
North Carolina$Up to 10,500,000Yes5 Years
Puerto Rico$15,000,000Yes10 Years
Oregon$20,000,000NA**20 Years
Utah$310,000Yes10 Years
Vermont$300,000***Yes5 Years

Virginia

$500,000

Yes5 Years

* 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.
***Indicates that tax credits are allocated during fiscal years (FYs) as opposed to calendar years—the figure represented is that of FY 2007. In FY 2008, Vermont will allocate $400,000 in state LIHTCs.