Massachusetts Governor Signs Budget Bill Increasing Annual State LIHTC Cap
Massachusetts Gov. Maura Healey signed budget legislation into law this week that increases the annual cap for the state low-income housing tax credit from $40 million to $60 million. The $1 billion state budget bill includes several tax cuts. The Massachusetts state LIHTC is authorized through Jan. 1, 2025, and has a maximum per-development cap of $5 million for a new assisted living project and $10 million for all others.
State LIHTCs and their use as gap funding will be a topic at the Novogradac 2023 Housing Tax Credit Finance Conference Nov. 30-Dec. 1 in Las Vegas.