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Legislation Introduced to Create State LIHTC in Pennsylvania

Wednesday, September 19, 2018 - 10:45AM

Twelve Pennsylvania state senators today introduced legislation to create a state housing tax credit, modeled after the federal low-income housing tax credit (LIHTC). SB 1185 includes a $10 million annual cap and would mirror LIHTC requirements for applicants and uses. The state credit would be taken over a five-year period, with a five-year carryover for any amount that exceeds the tax liability of the taxpayer. The state credit would be bifurcated from the federal tax credit.

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