Sign Up For Novogradac Industry Alert Emails

Utah Bill Would Allow Unallocated State LIHTCs to be Carried Forward

Wednesday, February 7, 2024 - 10:42AM

Legislation introduced in the Utah House of Representatives would allow unallocated portions of the state low-income housing tax credit (LIHTC) to be carried forward to future years. H.B. 465 modifies several affordable housing provisions, including to allocate credits returned to or recaptured by the Utah Housing Corporation in the previous year. The bill would also allow the allocation of holdover credits if all potential credits were not allocated in a previous year, with a maximum of 15% of the total previous allocation amount.

The mix of state and federal LIHTCs is a topic at the Novogradac 2024 Affordable Housing Conference, May 2-3 in San Francisco.

Learn more about Novogradac's expertise and many services