Low Income Housing Tax Credits & Private Activity Bonds in Minnesota, 2018

Minnesota's 2018 Qualified Allocation Plan specifies that a project earn 40 points in order to qualify for 4% credits with Private Activity Bonds. 

In order for a project to receive an allocation of tax credits through the issuance of tax exempt bonds, the project must satisfy the requirements for allocation of a housing credit dollar amount under the QAP applicable to the area in which the project is located. The Minnesota Housing QAP shall apply to all projects for which Minnesota Housing is the issuer of the Bonds and all other projects for which the issuer is not located within the area covered by a suballocator QAP. In order to qualify under Minnesota Housing’s QAP, a developer must demonstrate that the project is eligible for not less than 40 points. The threshold requirements of the QAP do not apply to tax-exempt bond financed projects using credits not counted in the state’s volume cap.

Contributed By: 
National Housing Trust

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