The Low Income Housing Tax Credit program was created by the United States Congress in 1986 to promote the development of affordable housing for low income individuals and families. The IRS regulations for the Tax Credit program can be found under Section 42 of the Code of 1986, as amended.
As the State of Illinois’ allocating agency for the Low Income Housing Tax Credit (LIHTC) program, IHDA compiles the Qualified Allocation Plan (QAP), which sets out the criteria for evaluating projects that apply for a tax credit allocation.
2010 QAP
The draft 2010 QAP was subject to a 30-day public comment period including two (2) public meetings and an official public hearing. As a result, thirty (30) written comments as well as verbal comments were received. The public comments and the Authority’s responses can be found here.
In addition, the Authority held four Tax Credit Application Workshops prior to the Preliminary Application due date. Answers to questions raised at the workshops and submitted by email can be found here.
Governor Pat Quinn approved the 2010 QAP on February 8, 2010.
2010 LIHTC Application Schedule
The Authority anticipates the following Application schedule:
| Application | Date |
| Preliminary Application Submissions | By 5pm - February 16, 2010 |
| Preliminary Application Results Announced | March 15, 2010 |
| 9% Tax Credit Applications Due | By 5pm - May 17, 2010 |
| 4% Tax Credit Applications Due | Any time during calendar year 2010 |