States Move Forward on 2011 LIHTC Programs

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Tax Credit Advisor ““ December 2010 ““ State housing credit agencies are moving ahead with their plans and schedules for their 2011 low-income housing tax credit (LIHTC) funding rounds, with a number already having forward committed some of their anticipated 2011 credits. A recent survey by the Tax Credit Advisor drew responses from 46 states, the District of Columbia, Puerto Rico, and Chicago about the status of their 2011 qualified allocation plans, their 2011 credit volume ceiling and commitments so far, and their remaining 2010 credits (see pp. 20-21 for state-by-state responses). The state housing credit agencies (HCAs) also disclosed the application round deadlines for their 2011 housing credits. HCAs are moving forward with their 2011 credit programs even though they don’t know yet whether Congress will extend the Section 1602 exchange program. Of the state HCAs responding to the survey, about half reported that their 2011 QAP has either been signed by the governor, is awaiting the governor’s signature, is final, or has been approved. Read More…