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Bill Would Create 4 Percent State LIHTC for Indiana

Friday, January 17, 2020 - 9:15AM

A bill introduced this week in the Indiana House of Representatives would create a state low-income housing tax credit (LIHTC). H.B. 1381 would create a 4 percent state LIHTC worth up to the amount of the federal LIHTC for the taxpayer, with a statewide annual cap of $36 million. The credit would be effective for taxable years beginning Jan. 1, 2021, although applications could be submitted starting July 1, 2020. For fiscal years beginning after June 30, 2022, the state credit ceiling would drop to the amount of unallocated credits from previous years.

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