State Low-income Housing Tax Credit (SLIHC)

The New York State Low-income Housing Tax Credit Program (SLIHC) is modeled after the federal LIHTC Program and provides a dollar-for-dollar reduction in state income taxes to investors in qualified low-income housing. However, it has one major difference: SLIHC-assisted units must serve households with incomes at or below 90 percent of Area Median Income (AMI), as opposed to the 60 percent standard of the federal LIHTC.

Program Information

• Scale: Small Scale (between 1 and 999 units)
• Timeframe: 2000 - Present
• Occupancy Tenure: Rental
• Construction Type: New Construction
• Building Type: Multi-family
• Developer/Owners: Non-profit, For-profit
• Income: At least 40 percent of units must be affordable to households with an annual income of up to 90 percent of Area Median Income (AMI).

More Resources

Related Programs: Low-Income Housing Tax Credit