Credit cap and amount

For the 2027 award cycle, the total base annual amount of credits available for reservation is $42 million. For each award cycle after 2027, this base amount is adjusted annually for inflation based on the U.S. Consumer Price Index for all urban consumers. The total “award cycle cap” for any given year is the sum of the base annual amount, any unused credit amounts from the preceding award cycle, and any credits that were recaptured or otherwise returned to the authority. The annual credit awarded for a specific project cannot exceed the lesser of the amount necessary for the project’s financial feasibility or the “adjusted annual federal credit amount,” which is defined as one-sixth of the aggregate federal low-income housing tax credit allocated to the project over its federal credit period.

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