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Indiana Bill Would Create State LIHTC for Properties Receiving Federal 4% Credit

Wednesday, January 19, 2022 - 10:00AM

Legislation introduced in the Indiana Senate would create a state low-income housing tax credit (LIHTC) worth 40% to 100% of the federal 4% LIHTC awarded to an affordable housing property. S.B. 262 would create Indiana affordable and workforce housing tax credits for affordable housing financed with private activity bonds (PABs) and 4% LIHTCs. The credits would be for five years and could be carried forward up to nine years. There would be a statewide cap of $30 million for fiscal years beginning after June 30, 2023, and before July 1, 2028.

The interaction of state and federal credits will be a topic at the Novogradac 2022 Affordable Housing Conference, April 28-29 in San Francisco.

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