Missouri Bill Would Set Caps on State’s 9%, 4% LIHTC Allocations

Tuesday, February 2, 2021 - 11:45am

Legislation introduced in the Missouri Senate would limit the allocation of the state 9% low-income housing tax credits (LIHTCs) to 70% of the federal LIHTC amount and cap the state 4% LIHTC allocation at $4 million annually. S.B. 85 is similar to legislation introduced in the past few sessions of the Missouri Legislature. Missouri funded the state LIHTC incentive in 2020 for the first time since 2017 and the Missouri Housing Development Commission limited the 9% credits to 70% of the federal allocation and capped 4% credits at $3 million.

The Novogradac Low-Income Housing Tax Credit Handbook is the authoritative source for affordable rental housing owners, developers, managers and investors.