State Housing Tax Credit Contribution Program (HTCC)

Program Status
Program Description

The HTCC Program provides tax credit vouchers to Business Firms that support Affordable Housing Programs administered by Nonprofit Corporations, assisting households with Very Low-, Low-, and Moderate-Incomes. These tax credits match the contributions made by Business Firms, making the HTCC Program a dollar-for-dollar tax credit initiative.

Program Type
Type of Funding
Source of Funds
State Tax Credit
Funding Amounts/Limits

Annually, $10 million in tax credits are available, with $1 million designated for Workforce Housing and $2 million for Permanent Supportive Housing, as mandated by law. Applicants can receive a maximum of $500,000 a year and $1.5 million in three years.

Target Population(s)

Extremely Low-, Very Low-, Low- or Moderate- income Households (renters and homeowners)

Links to Additional Resources

Eligibility

Other Eligibility Guidelines

Eligible uses include affordable housing developments and capitalization of a revolving loan fund.
Housing programs must be scheduled to be completed within 3 years. Once CHFA publishes awards, awardees must obtain a business firm commitment purchase the tax credit within a specified time frame, failure to do this may result in a withdrawal of the award.

Application

Application Timeline

Annual deadlines

Overview of Application Process

Nonprofits submits applications that are scored against the program criteria. Top scoring programs will be selected for awards until the pool of funds is exhausted.

Additional Information

Other Notes
Last Updated
June 6, 2024
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