Proposed Pennsylvania State LIHTC Includes Set-Aside for Developments Serving Households at or below 30 Percent AMI

Tuesday, May 12, 2020 - 2:00pm

Legislation introduced in the Pennsylvania General Assembly this week would create a state affordable housing tax credit that generally follows the provisions of the federal low-income housing tax credit incentive. S.B. 962 would create a state credit with an annual cap of $50 million, with a minimum of 10 percent of credits going to properties for households with incomes at or below 30 percent of the area median income.