Wisconsin Assembly Advances Bill to Create State LIHTC
The Wisconsin Assembly Tuesday passed a bill that would create a state low-income housing tax credit (LIHTC). If passed by the state Senate and signed by Gov. Scott Walker, the credit would be effective Jan. 1, 2018. It would largely mirror the federal LIHTC, have an annual cap of $42 million and be taken over six taxable years. The legislation would also allow awards only if the tax credit was necessary for the financial feasibility of the property and would give preference to rural developments.