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Kentucky Group Working to Get State LIHTC Legislation Passed

Monday, July 26, 2021 - 12:15PM

A group of Kentucky affordable housing advocates announced its formation last week to pass a state LIHTC bill in the next session of the state Legislature. Two sponsors of legislation that would create a state low-income housing tax credit (LIHTC), Republican Reps. Randy Bridges and Kim Banta joined the advocates at the event in support of the creation of a state LIHTC. H.B. 142 was introduced in January and would create a state LIHTC for taxable years beginning on or after Jan. 1, 2024, in the amount equal to the federal LIHTC up to a statewide cap of $12.5 million per year. The Kentucky Legislature adjourned without taking action on the bill.

The Novogradac Low-Income Housing Tax Credit Handbook provides information on how the LIHTC incentive works, including the interaction of state and federal LIHTCs.

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