| Low Income Housing Tax Credit Program (LIHTC) |
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Grant and Tax Credit Programs / LIHTC Program
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The 1986 Tax Reform Act created the Low Income Housing Tax Credit Program (LIHTC) as an incentive to encourage the construction and rehabilitation of rental housing for lower-income households. The program offers credits on federal tax liabilities for 10 years. Individuals, corporations, partnerships and other legal entities may benefit from tax credits, subject to applicable restrictions.
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| Program News: |
Below please find the Draft Amended 2009 Qualified Allocation Plan and the 2007 Qualified Allocation Plan Technical Amendment Policies. These are available for public comment from December 18, 2008 until January 13, 2009 at 5 PM. A public hearing will be held Monday, January 5, 2008 from 1:00 PM to 3:00 PM at Oregon Housing and Community Services, 725 Summer St. NE Room 124 A/B. Written comments will be accepted through Tuesday, January 13, 2009 at 5:00 p.m. at 725 Summer St NE Ste B, Salem OR, 97309-1266. E-mail comments will also be accepted through January 13, 2009. Please e-mail comments to Susan Bailey.
 Draft 2009 Amended Qualified Allocation Plan (QAP)
2007 QAP Technical Amendment Policies
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Federal Change to Tax Credit DDA's for 2009
On September 3, 2008, the Department of Housing and Urban Development announced the new list of Difficult Development Areas (DDA's) for Section 42 of the Internal Revenue Code (Tax Credits) for the calendar year 2009. The following Oregon Counties are on the list: Clatsop, Coos, Crook, Curry, Douglas, Gilliam, Grant, Hood River, Josephine, Lincoln, Linn, Morrow, Tillamook, Wallowa and Wheeler. The following Oregon counties have been removed from the list: Jefferson, Union and Wasco. There were no changes to the Qualified Census Tracts (QCT's) eligible for the 130 percent boost in the State of Oregon. If you have questions on this issue, please contact your local Regional Advisor to the Department (RAD).
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| Qualified Allocation Plan (QAP): |
Prior to allocating tax credits through the Low Income Housing Tax Credit (LIHTC) program, each state is required to develop a Qualified Allocation Plan (QAP).
Oregon´s allocation plan provides both a competitive and non-competitive process for awarding tax credits to developments that address the state´s low-income housing needs.
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| LIHTC Four Percent Application: |
The Four Percent LIHTC initial application is an open, non-competitive process to efficiently distribute tax credits to projects with an allocation of tax-exempt bond financing. Four percent credits must be used for affordable multi-unit rental housing development.
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