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Arizona Legislation Would Expand State LIHTC Cap, Delay Sunset Date

Wednesday, February 16, 2022 - 11:00AM

A bill introduced in the Arizona House of Representatives would increase the annual allocation of state low-income housing tax credits (LIHTCs) from $4 million to $10 million and delay the sunset date of the credit by 10 years. H.B. 2805 would increase the allocation amount effective upon passage. It would delay the repeal date for the state LIHTC from Dec. 31, 2025, to Dec. 31, 2035. The Arizona LIHTC became law last year and is effective for properties placed in service beginning June 30, 2022.

The Novogradac Introduction to Low-Income Housing Tax Credits booklet provides a look at the basics of the LIHTC incentive, including the background and structure.

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