Wisconsin Bill Would Increase State LIHTC Cap to $100 Million, Make 9% Properties Eligible

Monday, February 6, 2023 - 9:45AM

Legislation introduced in the Wisconsin Legislature would increase the annual cap for the state low-income housing tax credit (LIHTC) to $100 million, while creating a set-aside of 35% of allocation to rural areas when possible and allowing the state credit to go to properties that receive 9% federal LIHTCs. S.B. 40 also allows the credit to be carried back one year. The Wisconsin LIHTC is currently only for properties that receive tax-exempt bonds (and 4% LIHTCs) and has a $40 million annual cap.

The role of state LIHTCs in financing will be discussed at the Novogradac 2023 Affordable Housing Conference, April 27-28 in San Francisco.

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