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Oklahoma Governor Signs Bill Clarifying Against Which Year Reallocated State LIHTCs Count

Wednesday, April 24, 2024 - 12:26PM

Oklahoma Gov. Kevin Stitt signed legislation Tuesday clarifying against which year’s cap reallocated state low-income housing tax credits (LIHTCs) are counted. H.B. 4018 states that reallocated and rolled-over state LIHTCs count against the original allocation year, rather than the year in which they are ultimately allocated. Oklahoma has a state LIHTC worth up to the amount of the federal credit, with a $4 million annual statewide cap.

The interaction of state and federal LIHTCs are a topic at the Novogradac 2024 Affordable Housing Conference next week in San Francisco.

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