Indiana Bill Would Create State LIHTC for Percentage of Federal 4% Credit Allocation

Tuesday, January 12, 2021 - 10:30am

A bill introduced in the Indiana Senate would create a state low-income housing tax credit (LIHTC) for a percentage of the federal 4% LIHTCs received by properties. S.B. 214 would make the state LIHTC transferrable and the credit could be carried forward up to nine years. The state credit would be for 40% to 100% of the federal credit award, with a statewide cap of $30 million per year for the fiscal years starting July 1, 2021, and ending June 30, 2026.

How state and federal LIHTCs can be used with the U.S. Department of Housing and Urban Development’s (HUD’s) Rental Assistance Demonstration (RAD) program will be among the discussion topics at the Novogradac 2021 RAD Public Housing Virtual Conference, Thursday and Friday.