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2008 State LIHTC Information

* Please note these figures refer 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.

StateEstimated Tax Credits
Available in 2008
Bifurcated from Federal LIHTC? Credit PeriodType of Credit
Arkansas$250,000NoUp to 15 yearsOther
California$83,966,419No4 yearsOther
Georgia$21,205,516Yes10 yearsBoth
Hawaii$1,411,727Yes10 yearsBoth
Illinois$13,153,039Yes10 yearsOther
Massachusetts$10,000,000Yes5 yearsOther
New Mexico $3,644,343Yes5 years*Other
New York$4,000,000No10 yearsBoth
North CarolinaContact NCHFA for more informationN/AN/AOther
Oregon$4,860,000N/A**Up to 20 yearsOther
Utah$330,666No10 years***Other
Vermont$400,000Yes5 yearsOther
Virginia$500,000Yes5 yearsOther

TBD indicates that estimates are still to be determined. Novogradac & Company LLP is currently updating this information with the appropriate state agency.

* Indicates that this one time credit can be claimed anytime during a five year period.
** Indicates that Oregon state-LIHTCs are not sold at all; banks with a state tax liability get the credits in exchange for a 4 percent interest rate reduction on the permanent loan.
***May be carried back 3 years and forward 5 years where credit exceeds tax.

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