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2022 State Tax Credit Information
* Please note this content refers to to state low-income housing tax credit programs - not the federal LIHTC program. The following chart is intended for summary purposes only. As state LIHTC programs vary widely, we recommend that you gather complete details from the appropriate state agency. Some of the information listed below is based on estimates.
Please e-mail [email protected] with any questions or with additional information about programs in your state.
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Arizona
Estimated Tax Credits Available in 2022
$4,000,000
Bifurcated from Federal LIHTC?
Yes
Credit Period
10 years
Type of Credit
Both 4% and 9%
Certificated Or Allocated?
Allocated
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Arkansas
Estimated Tax Credits Available in 2022
$250,000
Bifurcated from Federal LIHTC?
Yes
Credit Period
10 years
Type of Credit
Both 9% and 4%
Certificated Or Allocated?
Allocated
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California
Estimated Tax Credits Available in 2022
$646,000,000
Bifurcated from Federal LIHTC?
Yes
Credit Period
Up to 4 years
Type of Credit
Both 9% and 4%
Certificated Or Allocated?
Both
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Colorado
Estimated Tax Credits Available in 2022
$10 million
Bifurcated from Federal LIHTC?
Yes
Credit Period
6-year credit may be claimed over 11 years max
Type of Credit
Both 9% and 4%
Certificated Or Allocated?
Allocated
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Connecticut
Estimated Tax Credits Available in 2022
$10 million
Bifurcated from Federal LIHTC?
Yes
Credit Period
10 years
Type of Credit
Both 9% and 4%
Certificated Or Allocated?
Allocated
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District of Columbia
Estimated Tax Credits Available in 2022
25% of federal allocation
Bifurcated from Federal LIHTC?
Credit Period
10 years
Type of Credit
4% and 9%
Certificated Or Allocated?
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Georgia
Estimated Tax Credits Available in 2022
9%: $30 million estimated
4%: Same as federal amount
4%: Same as federal amount
Bifurcated from Federal LIHTC?
Yes
Credit Period
10 years
Type of Credit
Automatic dollar for dollar match on 9% and 4%
Certificated Or Allocated?
Allocated
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Hawaii
Estimated Tax Credits Available in 2022
9%: $3,957,204
4%: N/A (50% of federal LIHTC amount)
4%: N/A (50% of federal LIHTC amount)
Bifurcated from Federal LIHTC?
Yes
Credit Period
5 years
Type of Credit
Both 9% and 4%
Certificated Or Allocated?
Allocated
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Illinois
Estimated Tax Credits Available in 2022
N/A
Bifurcated from Federal LIHTC?
Yes
Credit Period
1 year
Type of Credit
50% of value of donation
Certificated Or Allocated?
Allocated
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Indiana
Estimated Tax Credits Available in 2022
None. ($30 million annual cap for fiscal years starting after June 30, 2023)
Bifurcated from Federal LIHTC?
Yes
Credit Period
Five years
Type of Credit
4%
Certificated Or Allocated?
Allocated
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Kansas
Estimated Tax Credits Available in 2022
Allocating approximately $8,000,000 for 2024 (forward allocate by 1 year)
Bifurcated from Federal LIHTC?
No
Credit Period
10 years
Type of Credit
Both 9% and 4%
Certificated Or Allocated?
Allocated
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Maine
Estimated Tax Credits Available in 2022
$10 million
Bifurcated from Federal LIHTC?
Yes
Credit Period
One year
Type of Credit
Both 9% and 4%
Certificated Or Allocated?
Allocated
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Massachusetts
Estimated Tax Credits Available in 2022
$40 million
Bifurcated from Federal LIHTC?
Yes
Credit Period
Five years
Type of Credit
Both 9% and 4%
Certificated Or Allocated?
Both
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Missouri
Estimated Tax Credits Available in 2022
50% of federal LIHTC amount
Bifurcated from Federal LIHTC?
Yes
Credit Period
10 Years
Type of Credit
Both 9% and 4%
Certificated Or Allocated?
Allocated
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Nebraska
Estimated Tax Credits Available in 2022
Approximately $8,000,000
Bifurcated from Federal LIHTC?
Yes
Credit Period
Six years
Type of Credit
9%, 4% and state credit for all 9% deals and some 4%
Certificated Or Allocated?
Allocated
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Nevada
Estimated Tax Credits Available in 2022
Only 4% deals
Bifurcated from Federal LIHTC?
Yes
Credit Period
1 year
Type of Credit
One time equity investment
Certificated Or Allocated?
Allocated
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New Mexico
Estimated Tax Credits Available in 2022
Approx. $4,800,000
Bifurcated from Federal LIHTC?
Yes
Credit Period
Can be claimed up to five years from certification
Type of Credit
State tax credits are available to individuals and businesses that provide donations to help build affordable housing in New Mexico. The credit is equal to up to 50 percent of the value of the donation. Donations may include land, buildings, cash, or services. Tax credits may be applied to state income tax, gross receipts tax and compensating tax burdens.
Certificated Or Allocated?
Both
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New York
Estimated Tax Credits Available in 2022
Approx. $8,000,000
Bifurcated from Federal LIHTC?
Yes
Credit Period
10 years
Type of Credit
Both 9% and 4%
Certificated Or Allocated?
Both are options
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Oklahoma
Estimated Tax Credits Available in 2022
$4,000,000
Bifurcated from Federal LIHTC?
Yes
Credit Period
10 years
Type of Credit
Both 9% and 4%
Certificated Or Allocated?
Allocated
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Pennsylvania
Estimated Tax Credits Available in 2022
$10,000,000
Bifurcated from Federal LIHTC?
Yes
Credit Period
Five years
Type of Credit
TBD
Certificated Or Allocated?
TBD
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South Carolina
Estimated Tax Credits Available in 2022
TBD
Bifurcated from Federal LIHTC?
Yes
Credit Period
10 years
Type of Credit
4%
Certificated Or Allocated?
Allocated
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Utah
Estimated Tax Credits Available in 2022
$1,000,000
Bifurcated from Federal LIHTC?
Yes
Credit Period
10 years
Type of Credit
9%
Certificated Or Allocated?
Both
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Vermont
Estimated Tax Credits Available in 2022
$400,000
Bifurcated from Federal LIHTC?
Yes
Credit Period
Five years
Type of Credit
9%, 4%, state rental and homeownership credits
Certificated Or Allocated?
Certificated (can be transferred)
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Virginia
Estimated Tax Credits Available in 2022
$15,000,000
Bifurcated from Federal LIHTC?
Yes
Credit Period
One year
Type of Credit
Both 9% and 4%
Certificated Or Allocated?
Both
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Wisconsin
Estimated Tax Credits Available in 2022
$7,848,291
Bifurcated from Federal LIHTC?
Yes
Credit Period
Six years
Type of Credit
4%
Certificated Or Allocated?
Both
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