Sugar Creek Capital provided developers an update on the state tax credit program. Sugar Creek works proactively with state legislators and housing coalitions across the country to get more states into the STC program and strengthen existing programs. More than 20 states have a housing STC, with bills pending for two states, Illinois and New Jersey. Four states have what are known as “gift” tax credits, equivalent to a local or state credit that developers can take by donating land or another asset to the project, Minnesota, New Mexico, Vermont and Rhode Island. Illinois also has a gift tax credit, but has a bill pending to create their housing STC. Alabama’s bill to create their STC was recently passed. If you would like to get involved with bringing a STC to your state or strengthen an existing program, reach out to Housing Policy Director Tom Simplot at Sugar Creek Capital.