Tax Credits
The Low Income Housing Tax Credit Program (LIHTC) is designed to provide an incentive to owners developing multifamily rental housing. Developments that may qualify for credits include new construction, acquisition with rehabilitation, rehabilitation and adaptive reuse. Owners of and investors in qualifying developments can use the credit as a dollar-for-dollar reduction of federal income tax liability. Allocations of credits are used to leverage public, private and other funds in order to keep rents to tenants affordable.
2013 Program Information
- 2013 Point Scores - new
- Tax Credits Applications List
- Final QAP
- Final Tax Credit Manual
- 2013 Tax Credit Schedule
- Bulletin #2 - January 7, 2013
- Bulletin #1
- Tax Credit Application
- Exhibit A
- Exhibit C
- Exhibit D
- Exhibit E
- Form 1
- Exhibit P
- Form LP
- Form LLC
- Form CORP
- Exhibit B
- Exhibit K
- Exhibit K-1
- Exhibit G
- Form 3
- Exhibit U
- Exhibit R
- Exhibit S - Market Study Guidelines
- Approved Market Analyst List
- Exhibit S-2 - Summary
- Exhibit S-2 - Worksheet - excel format
- HOME/Tax Credit Manual
- HOME Application Addendum
- Form M-7B
- Form M-39
- Form M-40
- Form M-47
- Exhibit A 10%
- Exhibit F
- Exhibit H
- Exhibit I
- Exhibit N
- Exhibit A PIS
- Exhibit G PIS
- Exhibit J-1
- Exhibits J-2 thru J-4 CPA Final Certification
- Exhibit M
- Exhibit L
- Annual Operating Expense Certification
- Extranet File Upload Instructions - new
- Exhibit OR-1 Operating Reserve Release Request - Syndicator
- Exhibit OR-2 Operating Reserve Release Request - Owner
- QAP Comments
- QCTs & DDAs
- 2012 Public Analysis
2012 Program Information
- 2012 Tax Credit Award List - posted 7/6/2012
- Awarded Development Timeline - updated
- Construction Inspection Form
- 2012 Final Point Scores
- 2012 Point Scores
- Tax Credit Applications List
- Final QAP
- Final QAP Memo
- Final Tax Credit Manual
- Tax Credit Program Schedule
- Tax Credit Application
- Bulletin #1 - February 8, 2012
- Bulletin #2 - February 17, 2012
- Exhibit A
- Exhibit A Verification of 10% Expenditure
- Exhibit A Placed in Service
- Exhibit B
- Exhibit C
- Exhibit D
- Exhibit E
- Exhibit F
- Exhibit G - updated
- Exhibit G Placed in Service - updated
- Exhibit H
- Exhibit I
- Exhibit J-1
- Exhibits J-2 thru J-4 CPA Final Certification
- Exhibit K
- Exhibit K-1
- Exhibit L
- Exhibit N
- Exhibit OR-1
- Exhibit OR-2
- Exhibit P
- Exhibit R
- 2012 Approved Market Analyst List
- Exhibit S-2 Appendix B
- Exhibit S-2 Rent Calculation Worksheet
- Exhibit U
- Form 1
- Form 3
- Form CORP
- Form LLC
- Form LP
- Qualified Census Tracts (QCTs) and Difficult Development Areas (DDAs)
- TC-HOME Manual
- TC-HOME Application
- M-39 HOME Tenant Profile Form
- M-47 HOME Eligibility Certification
- Request for Proposal - LIHTC Program Market Study Reviewer
- Request for Qualifications - Market Analysts
- 2011 Public Analysis
Who Is Eligible for Tax Credits?
- Individuals
- Partnerships
- Corporations
- For-profit and Nonprofit Organizations
LIHTC Requirements:
- Eligible developers must submit proposals to be reviewed in accordance with the Qualified Allocation Plan (QAP). The QAP describes housing need priorities and other criteria that should be incorporated into the proposed development. The evaluation will also ensure that a development does not receive more tax credits than are needed for it to be financially feasible.
- Developments must comply with IRS guidelines governing the tax credit program.
- To be eligible, a development must have at least 20% of its units occupied by households earning at or below 50% of the area median income, or 40% of its units occupied by households earning at or below 60% of the area median income.
Year 15
Questions regarding the Low Income Housing Tax Credits Program can be directed to Laura Nicholson in the Housing Development Division at (803) 896-9190.
Equal Housing Opportunity