Mississippi Bill Would Create State LIHTC to Pair with Federal Credit
Legislation pre-filed in Mississippi would create a state low-income housing tax credit (LIHTC) equal to the federal LIHTC. S.B. 2485 would create a state LIHTC that mirrors the federal credit, including provisions related to recapture. The tax credit would go into effect July 1 and would be for properties placed in service after Jan. 1, 2022, and before Dec. 31, 2031.
The use of state LIHTCs in conjunction with federal LIHTCs will be among the topics at the Novogradac 2022 Affordable Housing Conference, April 28-29 in San Francisco.