LIHTC Notice – 4% Competitive Program Update

On November 7, 2024, the Iowa Finance Authority (IFA) announced a transition of the 4% federal housing tax credit program to a competitive format in response to growing demand for the private activity bond cap. IFA is pleased to provide an update on the competitive process and timeline.

The draft of the 2025 - Second Amended 4% Qualified Allocation Plan (QAP) will be presented to the IFA Board of Directors at the April 2, 2025 board meeting and posted on the 4% Housing Tax Credit webpage following the meeting. A public hearing will be scheduled for the end of April or early May.

2025 4% Tax Credit Applications will be accepted for 2026 bond cap as follows:

Proposed 4% Competitive Tax Credit Reservation
and Bond Inducement Resolution Schedule

Process Step	Date
Tax Credit Application Package Available	July 2025
Deadline for Bond Inducement Applications to IFA	July 23, 2025 or August 20, 2025
Tax Credit Application Submission Due Date	September 17, 2025 by 4:30 P.M. Central
Tax Credit Application Submission Due Date	Mid/Late October 2025
IFA Tax Credit Reservation recommendations at IFA Board Meeting	December 3, 2025
Bond Issuance Application Submission Deadline	No later than November 16, 2026
Placed in Service Date	24 months from the date of the Bond Issuance Date
IRS Form 8609 Application Package due to IFA	No later than November 1 of the first-year credit period

PLEASE NOTE: If you 'opt out' below, you will stop receiving ALL messages from IEDA|IFA. If you would like to change the email messages you receive, select 'manage' below. If you forward this email, others may unsubscribe you. Instead, copy the link to the 'online' version listed below and share that link.

Manage your preferences | Opt Out using TrueRemove™
Got this as a forward? Sign up to receive our future emails.
View this email online.

1963 Bell Ave Ste 200 | Des Moines, IA 50315-1011 US

This email was sent to .
To continue receiving our emails, add us to your address book.

Subscribe to our email list.