Recent News

Tuesday, January 21, 2020

A private letter ruling from the Colorado Department of Revenue concludes that state law follows federal law for partnerships formed for investment in federal and state low-income housing tax credit (LIHTC) developments.

Friday, January 17, 2020

A bill introduced this week in the Indiana House of Representatives would create a state low-income housing tax credit (LIHTC). H.B. 1381 would create a 4 percent state LIHTC worth up to the amount of the federal LIHTC for the taxpayer, with a statewide annual cap of $36 million. The credit would be effective for taxable years beginning Jan. 1, 2021, although applications could be submitted starting July 1, 2020.

Friday, January 17, 2020

A bill introduced in the Hawaii Legislature would specify that certain provisions of the Internal Revenue Code concerning deductions, at-risk rules and passive activity loss do not apply to claims for the state low-income housing tax credit (LIHTC). H.B. 956 also covers taxpayers who were granted an award under Section 1602 of the American Recovery and Reinvestment Act. For buildings that receive a LIHTC allocation after Dec.

Friday, January 17, 2020

The Missouri state low-income housing tax credit (LIHTC) annual cap would be the lesser of 72.5 percent of the federal allocation or $123 million, under legislation introduced in the state Senate. S.B. 549 would reduce the annual cap from 100 percent of the federal LIHTC awards and would also reduce the limit of 4 percent LIHTCs awarded to bond-finance properties from $6 million to $4 million.

Friday, January 17, 2020

S.B. 1578 was introduced in the Oklahoma Legislature to increase the annual ceiling for the state low-income housing tax credit (LIHTC) to $5 million, beginning Jan. 1, 2021. The state currently has an annual state LIHTC ceiling of $4 million.

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