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Nevada Governor Signs Bill Lifting Sunset Date on Ability to Transfer State LIHTCs
Nevada Gov. Steve Sisolak signed legislation that lifts the sunset date on the ability to transfer state low-income housing tax credits (LIHTCs) while requiring that the transfer take place at least 45 days before the project is closed. S.B. 284 eliminates the previous sunset date of Jan. 1, 2030, for transferring state credits. It also allows the Housing Division of the Department of Business and Industry the right to determine upon a transfer of credits whether the amount of credits should be lowered based on cost.
The Novogradac Introduction to Low-Income Housing Tax Credits booklet is an introduction to the basics of LIHTCs, including the interaction of state and federal incentives.