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INDIANA LIHTC AGENCY PUBLISHES DRAFT RECOVERY ACT PLAN

Tuesday, April 21, 2009 - 8:00AM

The Indiana Housing and Community Development Authority (IHCDA) today released a draft of its proposed policies for implementing the two enhancement funding sources for low-income housing tax credit (LIHTC) developments created by the American Recovery and Reinvestment Act of 2009. IHCDA’s plan outlines its policies for the Tax Credit Assistance Program (TCAP) and the Credit Exchange Program. In the notice announcing the proposed policies, IHCDA says Midwestern Disaster Credits are not eligible to be exchanged for cash through Treasury and TCAP funds will not be eligible for developments that have received Midwestern Disaster credits. Public review and comments of the draft will be accepted through May 22, 2009 and a public hearing will be held on May 22 at IHCDA. For more information, and a copy of the proposed policy, click here and scroll down to the section labeled Indiana.

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