Housing Credit Percentage Reverting Back to Floating Federal Rate

Many of you are already aware, the applicable housing credit percentage will revert back to the floating federal rate for tax credit developments that do not place in service by December 30, 2013.

The Delaware State Housing Authority’s (DSHA’s) low income housing tax credit (LIHTC) allocations typically aren’t made until the end of each calendar year (December 2012).  Consequently, DSHA has made it mandatory that all Developers use the applicable federal housing credit percentage that will be published in March 2012 for any 2012 potential tax credit applications.

During the underwriting process, DSHA will determine if a development has the ability to make all placed in service requirements under Section 42 and will utilize the appropriate housing credit percentage rate for the development.

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