affordable housing
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New York State Low Income Housing Tax Credit Program

The NYS Low Income Housing Tax Credit Program is modeled after the federal LIHC program and administered pursuant to the Internal Revenue Code and DHCR’s Qualified Allocation Plan but with a few exceptions:

  • SLIHC assisted units must serve households whose incomes are at or below 90 percent of the area median income (vs. the 60 percent standard of the federal program).
  • SLIHC provides a dollar-for-dollar reduction in state taxes to investors in qualified low-income housing which meet the requirements of Article 2-A of the Public Housing Law.
  • The SLIHC Credit allocation is not calendar year-specific.
  • The SLIHC program has selection criteria which are set forth in the SLIHC regulations.