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Georgia Legislation Would Reduce Most State LIHTC Awards to 80% of Federal Amount

Wednesday, February 14, 2024 - 2:07PM

A bill introduced in the Georgia House of Representatives would change provisions related to the state low-income housing tax credit (LIHTC), including reducing the state credit percentage of a federal credit. H.B. 1182 would limit the state credit to 80% of the federal LIHTC award unless it is a targeted community project, in which case it would be eligible for 100% of the federal award. The legislation would also rename the credit as Georgia affordable housing tax credits; define “senior” as individuals 55 or older; define “targeted community project” as housing in a rural area, housing that reserves or prioritizes most homes for seniors or veterans, housing that provides access to stable and high-frequency transportation or housing that consists primarily of rehabilitation or renovation; and define “veteran” as an individual who served in active military and was discharged under conditions other than dishonorable. Georgia’s state LIHTC currently is a dollar-for-dollar match with the federal LIHTC.

The interaction of state and federal LIHTCs will be a topic at the Novogradac 2024 Affordable Housing Conference, May 2-3 in San Francisco. 

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