Oklahoma Bill Allowing State LIHTC Allocation Amount to be Less than Federal Amount Goes to Governor

Wednesday, April 27, 2022 - 1:15PM

Legislation to clarify that the Oklahoma state low-income housing tax credit (LIHTC) amount allocated to an affordable housing property not exceed the federal LIHTC amount has passed both houses of the Legislature and advanced to the desk of Gov. Kevin Stitt. The current state LIHTC regulations state that the property shall receive an amount equal to the federal allocation, but S.B. 1685 clarifies that it may receive an allocation of a lesser amount.

The use of state LIHTCs with federal LIHTCs will be among the topics at the Novogradac 2022 Affordable Housing Conference, this week in San Francisco.

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