South Carolina Bill Would Provide One-Time Allocation of Nearly $30 Million for State LIHTC
Legislation introduced in the South Carolina Senate would provide a one-time authorization of up to $29.8 million for the state low-income housing tax credit (LIHTC). S.B. 739 would include $12.9 million from 2022 and $16.9 million from 2023. Those funds remain from a one-time $100 million authorization for the state LIHTC in 2022. The legislation would also authorize one-time expenditure of up to $25 million from the South Carolina Housing Trust Fund’s undesignated balance to be used as supplemental financial support to certain multifamily housing properties.
The Novogradac Introduction to Low-Income Housing Tax Credit booklet provides a brief, but substantive look at the federal and state LIHTC.