Arkansas

LIHTC Multifamily Housing Application 

Request for state tax credits should be included with federal LIHTC application

• Developments that receive federal credits and are in the low-income counties designated in the State Consolidated Plan will receive State Housing Credits equal to 20 percent of the federal credit total.
• If there is a shortage of state credits, credits will be awarded to developments located within Qualified Census Tracts (QCT), starting with highest scoring under the MFHA’s system.
• If there are not enough eligible developments in QCTs, state credits will be awarded to developments located within counties that have not received credits in the previous three years, starting with highest scoring under the MFHA’s system.
• Remaining credits will be distributed according to the scores of the MFHA system.
• No less than 10 percent of state credits will go to nonprofits.

Bentley D. Stanton, CPA CMA

Ben Van Kleef, Vice President for Housing - 501-682-5927 
Lornea Wells, Multi-Family Housing Specialist - 501-682-5998
Gary Arrington, Senior Multi-Family Housing Underwriter - 501-682-5468

California

Request for state tax credits should be included with federal LIHTC application.

Not Available

• State tax credit recipients must first receive federal tax credits, or qualify under Section 42(h)(4)(b) of the Internal Revenue Code. State Farmworker Credits are exempt from this requirement.
• Special Needs developments within a QCT or DDA can request state credits. CTCAC designates all Special Needs housing types as within DDAs.
• All remaining tax credits will be allocated to federal tax credit recipients in exchange for an “equivalent” amount of federal credits at the discretion of the Executive Director.

30 percent of eligible basis for 9 percent credits

13 percent of eligible basis for 4 percent credits

Jim Kroger, CPA

Mark Stivers
Executive Director, California Tax Credit Allocation Committee

Colorado

2018 Colorado Revised Statutes Section 39-22-2102: Credit against tax - affordable housing developments

2018 Colorado Revised Statutes Section 36-22-2101 

2014 Colorado Revised Statutes Section 39-22-2101

2013 Colorado Revised Statutes Section 39-22-2101

LIHTC Application

2017 QAP 

Allocation is based on the following selection criteria:
Primary selection criteria:

1. Low-income targeting
2. Extended low-income use
3. Homeownership options
4. Community revitalization plan
5. Tenant population with special housing needs
6. Subsidized housing waiting list

In addition, for all state credit applications, developments using 4 percent federal credits rather than 9 percent federal credits will be a priority; new construction has priority over acq/rehabs.

SB 18-007 extends Colorado’s Affordable Housing Tax Credit (state AHTC) program through 2024.

Jeff Nishita

Jerilynn Martinez​

Connecticut

Request for state tax credits should be included with federal LIHTC application

9 percent LIHTC: Application rounds are typically held each year in the fall.

4 percent LIHTC: Because 4 percent LIHTC are awarded on a non-competitive basis, developers may apply for 4 percent LIHTC at any time.

Applications are ranked based on the following criteria:

1. Readiness to Proceed
2. Type of Housing Program
3. Target Population
4. Administrative Capability of the applicant
5. Use of Funds in Urban Areas and Impact on Neighborhood Revitalization
6. The extent to which tax credit funds are leveraged by other funds.

Charlie Rhuda, CPA

Cyndi Guest
860 571-3527

D.C.

Not Available

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Dirk Wallace

Nkosi Bradley
(202) 777-1633

Georgia

Request for state tax credits should be included with federal LIHTC application.

Brad Elphick, CPA

Georgia Department of Community Affairs
(404) 679-4940
Email

Hawaii

S.B. 2833; H.B. 2304 

Contact Hawaii Housing Finance & Development Corporation at (808) 587-0567 for an application package.

Complete and accepted applications shall then be evaluated in accordance with the allocation plan to determine the development’s rank in relation to other developments in the evaluation. Developments receiving the highest ranking shall then be further evaluated to determine the minimum amount of LIHTC required to make the development feasible. The amount of LIHTC reserved or allocated to a particular development will be limited to the minimum amount the HHFDC, in its sole discretion, deems necessary to make the development feasible.

Request for state tax credits should be included with federal LIHTC application.

Application Deadlines:

• TBD for 2017
  Applications accepted throughout the year.

Please contact program staff for the dates. Subject to change.

Allocations before Jan. 1, 2017: 10 years (30 Years)
Allocations after Dec. 31, 2016: 5 years (30 Years)

Jon Adkins

​Darren Ueki
(808) 587-0567

Illinois

Illinois Affordable Housing Tax Credit Checklist 

The first step in applying for IAHTC is to submit a Preliminary Project Assessment (PPA). The PPA addresses development concept, design, location and proposed tenant population. PPAs are either approved or denied by IHDA and are accepted on a rolling basis for IAHTC. Approval of a PPA does not guarantee an allocation of tax credits or any other IHDA resources.

50 percent of the donations

The Illinois Affordable Housing Tax Credit (IAHTC) encourages private investment in affordable housing by providing donors of qualified donations with a one-time tax credit on their Illinois state income tax equal to 50 percent of the value of the donation. The donor can choose to transfer the credits to the development, which creates additional development financing through syndication of the credits.

The credit was extended until Dec. 31, 2021. 

Expanded Donation Form

Stacey Stewart

Massachusetts

Request for state tax credits should be included with federal LIHTC application.

Not Available

The selection process for state credit developments fundamentally will be the same as the selection process for federal 9 percent credit developments. However, DHCD reserves the right to establish certain limits for the state credit that differ from limits for federal credit. The sponsors of developments may request an allocation of state credit in combination with federal credit. However, it is important to note that state credit typically will be allocated in lieu of a portion of federal credit, which the development might otherwise receive.

DHCD has authority to allocate up to $20 million each year in state housing credit through 2019, at which point the Department’s annual housing credit authority will revert to $10 million.

While the Department may entertain some exceptions, sponsors should make every effort to limit their state credit requests as follows:

• $ 400,000 for developments with 40 or fewer units
• $ 700,000 for developments with 41 to 60 units
• $1,000,000 for developments greater than 60 units

The amount of credit is allocated at the discretion of the Department of Housing and Economic Development.

Sponsors of developments seeking state credit must meet one of the priority categories described in Section I of this QAP.

• The need to better manage development costs;
• The need to produce more units for extremely low-income (ELI) and homeless families and individuals;
• The need to produce more mixed-income housing, with units available to a broad range of households;
• The need to produce more housing opportunities for persons with disabilities;
• The need to continue promoting thoughtful and strategic efforts to affirmatively further fair housing in every community in the Commonwealth.

Charles Rhuda

Michelle O’Meara
(617) 573-1319

Minnesota (Proposed)

Not Available

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  $7 million

One-sixth the total federal LIHTC allowable under the 10-year federal period.

Not Available

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Missouri

Revised Statutes of Missouri Chapter 135 (as of Aug. 28, 2016)

Revised Statutes of Missouri Chapter 135

2017 Application 
 

Request for state tax credits should be included with federal LIHTC application

The application deadline for 2017 Round 1 was Sep. 6, 2016.

The application deadline for 2017 Round 2, consisting of $3 million of 4 percent credits only, was Jan. 16, 2017.

The credit is allocated based on the following:

1. Geographic region
2. Development characteristics
3. Market Characteristics
4. Development Team Characteristics
5. Feasibility
6. Community Impact

The aggregate amount of tax credits issued in a calendar year 34 under sections 135.350 to 135.363 shall not exceed fifty percent of the 35 amount of federal low-income housing tax credits allocated to the state 36 under 26 U.S.C. Section 42, as amended

100 percent of the federal allocation

Bond developments are subject to a $700,000 cap in annual State LIHTCs

Mike Kressig

Jennifer Schmidt
(816) 759-6654
[email protected]

Nebraska

A development must be placed in service after Jan. 1, 2018, to qualify for the state LIHTC.

Nebraska affordable housing tax credits may only be claimed for taxable years beginning on or after Jan.1, 2019.

The Nebraska Investment Finance Authority recently announced that it will delay the process and publication of proposed rules for its state LIHTC. 

Total state LIHTC allocations are limited to the amount of the federal LIHTC available; Federal LIHTC in Nebraska were approximately $4.3 million in 2016

The maximum amount of Nebraska affordable housing tax credits awarded to all qualified developments in any given allocation year shall be no more than 100 percent of the total amount of federal low-income housing tax credits awarded by the authority in the same allocation year.

Effective in 2018 (Specific date TBD)

Nebraska Investment Housing Authority (NIFA), which administers the credit, released a memorandum  recommending to not introduce the legislation in 2017 with respect to the state credit.

Rebecca Arthur

Teresa Kile
LIHTC Program Manager
(402) 434-3916

New Mexico

House Taxation And Revenue Committee Substitute For House Bills 410, 582, 844 and 1086

To receive a tax credit voucher, applicants must make a donation of land, buildings, materials, cash (and cash equivalents) or services, which may be used to acquire land, building acquisition, construction, remodeling, improvement, rehabilitation, conversion or weatherization throughout the state.

Applications are scored based on the following selection criteria:

1. Leverage of other public and private funds
2. Need and market for the proposed Affordable Housing property or activity
3. Readiness to proceed
4. Strength and experience of the sponsor, development team and management entity.
5. Properties which will produce affordable homeownership units.
6. Properties serving the lowest income households appropriate for the type of affordable housing property or activity

The credit is worth up to 50 percent of the value of donations for affordable housing developments approved by the New Mexico Mortgage Finance Authority (MFA).

MFA awards New Mexico Affordable Housing Tax Credit reservations on a first-come first-serve basis. 

New Mexico Affordable Housing Tax Credit Program Notice of Funding Availability; Rental Design Standards; Rental Multifamily State Tax Check List; Tax Credit Transfer; Fiscal Impact; Tax Credit Voucher; Schedules; Donor List

Jeff Nishita

Patty Balderamma
Program Coordinator, New Mexico Mortgage Finance Authority
Email
505.767.2231

New York

Apply online via the Community Development Online System for federal and state credits.

Complete applications must be submitted at least 60 days prior to the proposed construction start date on a form approved by DHCR and will be accepted and processed throughout the calendar year.

The SLIHC Credit allocation is not calendar year-specific.

Applications are scored based on the following selection criteria:

1. Community impact and revitalization
2. Financial leveraging
3. Sponsor characteristics
4. Green building
5. Income mixture
6. Fully accessible and adapted, move-in ready
7. Proposal readiness
8. Persons with special needs
9. Marketing plan/public assistance
10. Individuals with children
11. Non-profit participation
12. Historic nature of property
13. Cost effectiveness
14. Housing opportunity properties
15. Minority- and women-owned business enterprise participation

SLIHC assisted units must serve households whose incomes are at or below 90 percent of the area median income (vs. the 60 percent standard of the federal program).

Capital Programs Manual; Section 2040.14 New York State Low-Income Housing Tax Credit Program; Boilerplate Regulatory Agreement

Charlie Rhuda, CPA

Arnon Adler
New York State Division of Housing and Community Renewal
(518) 486-5044

Oklahoma

NA

Request for state tax credits should be included with federal LIHTC application

The following selection criteria are used to rank applications:

1. Income targeting
2. Term of affordability
3. Development location and housing characteristics 
4. Tenant/targeted populations
5. Tenant ownership
6. Preservation of 15-year old affordable housing
7. Energy efficiency
8. Historic nature
9. Negative points
10. Tie-breaker procedure

The Oklahoma Affordable Housing Act shall undergo a review every five years by a committee of nine persons, to be appointed by various state officials.

Nick Hoehn, CPA

Danette Carr
Oklahoma Housing Finance Agency
405.419.8136

South Carolina (Proposed)

A taxpayer that claims the federal low-income housing tax credit for low-income housing in this State is allowed a tax credit against any tax imposed pursuant to this title equal to the amount of the federal tax credit.

This act takes effect upon approval by the Governor and first applies to tax years beginning after 2018.

Utah

Request for state tax credits should be included with federal LIHTC application. State credits may also be requested outside of the normal application process.

Applicants will be required to first complete their application without reliance on state credits. Applicants will then complete the state credit section to reduce rents. Request for state tax credits should be included with federal LIHTC application. State credits may also be requested outside of the normal application process.

Applicants will be required to first complete their Application without reliance on state credits. Applicants will then complete the State Credit section to reduce rents.

• Application due: TBD for 2017
• Application Fee due with application
• Reservations Notification comes Approx. 90 days from Application deadline

Proposals are scored on the following criteria:

1. Lower income targeting
2. Property location
3. Property characteristics
4. Applicant characteristics
5. Tenant populations with special housing needs
6. Service to tenants with public housing assistance weight
7. Housing needs characteristics
8. Cost and credit efficiency
9. Tie Breakers

The tax credit shall be in an amount equal to the greater of the amount of:

the federal low-income housing tax credit to which the taxpayer is allowed during that year multiplied by the percentage specified in an allocation certificate issued by the Utah Housing Corporation; or

the tax credit specified in the special low-income housing tax credit certificate that the housing sponsor issues to the taxpayer as provided in Subsection (2)(c).

*Utah low-income housing tax credits can only be used to offset Utah state income tax liabilities

Mike Morrison

Robyn Cordova
Multifamily Credit Analyst
801.902.8246

Vermont

Common Application Form

Request for state tax credits should be included with federal LIHTC application. Prior to submitting an application, the developer must meet with Vermont Housing Finance Agency staff, obtain site control and meet with other funding agencies.  

The state will allocate credits according to the following allocation criteria:

Top Tier:

1. Rehabilitation
2. Family housing
3. Designated downtown, village center or neighborhood development area
4. Removal of blight
5. Special needs housing

Second Tier:

1. Mixed income housing
2. Unique design
3. Universal design features
4. Housing affordable to households earning less than or equal to 30 percent of gross area median income
5. Properties serving households on public housing waiting lists
6. Properties intended for eventual tenant ownership
7. Properties built in a Dense Infill Site
8. Properties served by public transportation

Other Priorities

1. Properties targeting lowest income tenants
2. Properties serving qualified tenants for the longest period
3. Acquisition and rehabilitation of existing properties that are federally subsidized and at-risk
4. Geographic targeting for underserved areas
5. LEED H, Green Communities or National Green Building standards             

A taxpayer who makes an eligible cash contribution shall be entitled to claim against the taxpayer’s individual income, corporate income, franchise tax or insurance premium tax a credit in an amount specified on the taxpayer’s credit certificate.

A taxpayer claiming affordable housing tax credits shall submit with each return on which such credit is claimed a copy of the allocating agency’s credit allocation to the affordable housing development and the taxpayer’s credit certificate. 

5 years Compliance Period (same as federal)

2017 Qualified Allocation Plan; Fact Sheet

Charlie Rhuda

Vermont Housing Finance Agency
Joe Erdelyi
(802) 652-3432

Josh Slade
(802)-652-3414 

Wisconsin

Not Available

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Gov. Walker Signs State Tax Credit Legislation into Law