Sign Up For Novogradac Industry Alert Emails

New York Legislation Would Create 60-125 Set-Aside for State LIHTC

Monday, February 27, 2023 - 11:15AM

Legislation in the New York Assembly would allow properties to be eligible for the state low-income housing tax credit (LIHTC) under a new, higher-income set-aside. A.B. 1264 would allow properties to receive the state LIHTC if 60% of the residential units were occupied by residents earning 125% or less of the area median income (AMI). That would replace the current New York 40-90 set-aside, which requires at least 40% of units to be occupied by residents earning 90% or less of the AMI.

The interaction of state and federal LIHTCs will be a topic at the Novogradac 2023 Affordable Housing Conference, April 27-28 in San Francisco.

Learn more about Novogradac's expertise and many services