Oklahoma Legislation Would Allow Lower Allocation of State LIHTC
A bill introduced in the Oklahoma Senate would clarify that state low-income housing tax credit (LIHTC) total allocated to a property shall not exceed the federal credit amount. The state LIHTC currently states that the property shall receive an amount equal to the federal allocation, but S.B. 1685 would allow the 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, April 28-29 in San Francisco.