Maryland Bill Would Create State Low-Income Housing Tax Credit

Thursday, February 6, 2020 - 3:15pm

Legislation introduced in Maryland would create a state low-income housing tax credit (LIHTC) worth up to the federal LIHTC award for properties that require the state benefit. S.B. 715 would provide credits to developers of LIHTC properties who enroll in the state program for fiscal years 2021, 2022 and 2023. Credits would be issued to properties that require the funding to make the development economically feasible. The credit would have an annual statewide cap of $5 million.