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Iowa Legislation Would Create State LIHTC, Increase Workforce Housing Cap

Wednesday, March 17, 2021 - 9:45AM

Legislation in the Iowa Senate would create a state low-income housing tax credit (LIHTC) and would double the cap for the state’s workforce housing tax incentive. S.F. 295 would create a 4%  Iowa LIHTC with an annual cap of $15 million plus any unallocated or recaptured credits from previous years. The legislation would also increase the state workforce housing incentive cap from $25 million to $50 million for the period of July 1, 2021, through June 30, 2024, with $20 million reserved for small cities.

The role of state LIHTC provisions with the federal LIHTC will be a topic at the Novogradac 2021 Affordable Housing Virtual Conference, April 29-30.

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