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.
Applicants must work with a Regional Advisor before any application submission.
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.
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.
