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Indiana Governor Signs Bill Creating State LIHTC

Tuesday, March 22, 2022 - 11:30AM

Indiana Gov. Eric Holcomb signed into law an omnibus tax law that creates a state low-income housing tax credit (LIHTC) for fiscal years after June 30, 2023. S.B. 382 creates an Indiana LIHTC available to recipients of federal 4% LIHTCs that can be taken over five years and carried forward up to nine years. The Indiana credit will be for up to 100% of the federal credits issued to the property. The statewide annual cap is $30 million and the tax credit ends with the fiscal year ending June 30, 2027.

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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