State Low-Income Housing Tax Credit (LIHTC)

The purpose of the State LIHTC Program is to increase the development of affordable housing in the Rhode Island by closing financing gaps in projects receiving Federal LIHTCs (4% or 9%). The State LIHTC Program will provide tax credit funding to projects in equal increments over the 5-year period after the project is placed in service. The tax credits may be sold to an investor or may be redeemed by the State for ninety percent (90%) of the value of the tax credit. State LIHTC funds are awarded periodically through a competitive Request for Proposals (RFP) process. Current and past RFP materials will be posted below as they are released.  Further information regarding the funding terms and requirements of the State LIHTC Program can be found in the program regulations available on the Rhode Island Secretary of State’s website at https://rules.sos.ri.gov/regulations/Part/310-10-10-1 .