4% Tax Credit with Bonds

A Qualified Tax-Exempt Bond-Financed Project is a Project in which some portion of Eligible Basis is financed with the proceeds of tax-exempt obligations. Since Qualified Tax-Exempt Bond-Financed Projects are not subject to the state's Annual Authority, they may receive Credit without competing with other Projects so long as they comply with the Commission's criteria and requirements as described in the Policies. The Commission has different requirements for Qualified Tax-Exempt Bond-Financed Projects which are outlined in Chapter 13 of the Policies, including:

Minimum of 50 Allocation Criteria Points; Can submit an Application for Credit at any time during the year subject to the limitations outlined in Chapter 13 of the Policies; and Separate fee schedule.

If interested, contact the Commission's Capital Projects Division staff and/or Low-Income Housing Tax Credit Program staff to discuss. If a Project has less than fifty percent (50%) of its financing from the proceeds of tax-exempt obligations, the Project is treated the same as any other Project. You must submit an Application by the deadline and comply with the regular criteria, requirements and policies outlined in the Policies.

Refer to the Policies Chapter 13 (PDF) or to the Tax Credits website for additional information regarding Qualified Tax-Exempt Bond-Financed Projects.

This page was modified on 06/21/2006