The District of Columbia’s fiscal year (FY) 2015 Budget Support Emergency Act, which became effective on October 1, 2014, implements a low-income housing tax credit (LIHTC) for the District of Columbia. The new DC housing credit, modeled on the federal LIHTC, is expected to draw more private investment into the production of affordable housing in the District of Columbia. The bill stipulates that a combined federal and District of Columbia low-income housing tax credit should be the least amount necessary to ensure financial feasibility of a project. The Department of Housing and Community Development will make available $1 million in LIHTCs in FY 2015.
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