State Low Income Housing Tax Credits & Oklahoma

The Oklahoma Affordable Housing Act will provide state housing tax credits beginning in 2015. 

The Oklahoma Affordable Housing Act was passed in 2014 to provide state housing tax credits. The amount of state tax credits available is equal to the amount of federal low-income housing tax credits for a qualified project, but cannot exceed $4 million per allocation years. The credit may be carried forward for five subsequent tax years.

The effective date of the legislation is January 1, 2015. The tax credit will be available for qualified projects placed in service after July 1, 2015, and for tax years beginning on or after January 1, 2016.

Contributed By: 
National Housing Trust

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