Tax Credit Exchange Program

The Section 1602 Tax Credit Exchange Program allows MaineHousing, the state’s allocating agency for Low Income Housing Tax Credits (LIHTC), to exchange 2008 and 2009 9% LIHTC allocations for an upfront one-time grant set at $0.85 for every $1.00 of credit exchanged times 10.  States can exchange up to 100% of unused 2008 credits and up to 40% of new 2009 credits.  These funds must be spent by January 1, 2011.

• Tax Credit Exchange Awards in Process

• National Council of State Housing Agencies(NCSHA) Summary-Treasury Exchange Guidance
  
• Treasury Guidance on on the Section 1602 Exchange Program
• Maine State Housing Authority Section 1602 Tax Credit Exchange Program Details
• U.S. Department of Treasury Tax Credit Exchange Program Award Notice

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