Georgia State LIHTC Report Recommends Sunset After 2020

Friday, December 22, 2017 - 11:30am

The Georgia state low-income housing tax credit (LIHTC) is succeeding, but there are concerns about it–including a debate about whether the value of the credits should be included in determining the fair market value of the property–according to a report issued by a state legislative committee. The committee makes four recommendations, including a prioritization of mixed-income working-class family developments, more promotion of senior properties, bonus points for developments with job training or job counseling services and a sunset date of Dec. 31, 2020, subject to a review.  The report also supports efforts to ensure that the value of LIHTCs are not included in determining fair market value. The Georgia report is in response to legislation and came after three hearings around the state during 2017.