South Carolina Bails Out of 2023 9% Round

By: | June 21, 2023

South Carolina Bails Out of 2023 9% Round

COLUMBIA June 21, 2023 – Governor McMaster signed a Joint Resolution (S. 739/R. 76) related to Federal Low Income Housing Tax Credits and State Tax Credits. Pursuant to the Joint Resolution, SC Housing is developing a plan to allocate remaining state tax credits and fifty percent of 9% federal tax credits for certain existing developments meeting the criteria as set forth in the resolution. An update will be provided regarding the allocation plan once SC Housing submits the plan to JBRC by June 30 and receives approval.  Given the delay of a final 2023 QAP and the allocations set forth in the Joint Resolution, SC Housing will not have a 9% application round for 2023. More information will be discussed regarding a 2024 application timeline (LIHTC & TEB) at the roundtable on June 27th. SC Housing will make every effort to hold an earlier round in 2024.

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