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South Carolina Governor Signs Bill Authorizing One-Time $29.8 Million State LIHTC Allocation

Wednesday, May 24, 2023 - 11:30AM

Gov. Henry McMaster signed legislation providing a one-time authorization of up to nearly $30 million for South Carolina low-income housing tax credit (LIHTC). S.B. 739 permits the state to allocate a leftover $12.9 million from the 2022 allocation and $16.9 million from the 2023–both from a one-time $100 million authorization in 2022 for the state LIHTC. The bill also authorizes up to $25 million in expenditure from the South Carolina Housing Trust Fund’s undesignated balance for use as supplemental financial support for 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.

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