Montana Legislation Would Create State LIHTC With $1.5 Million Annual Cap
Wednesday, March 15, 2023 - 11:45am
Legislation introduced in the Montana House of Representatives would create a state low-income housing tax credit (LIHTC). H.B. 829 would create a workforce housing tax credit with an annual statewide cap of $1.5 million. The credit could be claimed over six years and would be effective for tax years beginning on or after Jan. 1, 2024, with a sunset date of Dec. 31, 2029. Similar legislation was passed by the Legislature in 2021 and vetoed by the governor.
State LIHTCs as a financial gap-filler will be a topic at the Novogradac 2023 Affordable Housing Conference, April 27-28 in San Francisco.
Notes from Novogradac
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Population Figures, Increase in Multiplier Mean Record PAB Cap for 2023; Small-State Recipients Largely Unchanged from 2022
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