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Oklahoma Coalition for

Affordable Housing

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OKLAHOMA AFFORDABLE HOUSING ACT

The Oklahoma Affordable Housing Act was passed by the Oklahoma Legislature in 2014.  This landmark legislation designates $4 Million per year in state low-income housing tax credits that mirror and pair with the federal low-income housing tax credits (LIHTC). 

Affordable housing industry advocates began work in 2013 to provide Oklahomans with these financing resource.  The initial bill in 2013 was SB804 which continued into 2014 under HB3099.  The final version of the Oklahoma Affordable Housing Act was written by Senator A.J. Griffin in SB2128.  This bill was passed by the 2nd Session of the 54th Legislature and signed by Governor Mary Fallin on June 3, 2014. 

Since 2014, the Act has been amended a few times to better administer this vital funding source.  Amendments include:

  • 2019 – HB1411 which removed the population cap of 150,000 and lowered the carryforward from five years to two years.  The initial population cap which did not allow the Oklahoma Affordable Housing Act to be used in counties with population over 150,000 was found to exclude several counties with the greatest need based on the 2015 Oklahoma Statewide Housing Needs Assessment
  • 2022 – SB1685 removed the $1 for $1 match on state LIHTC to federal LIHTC.  Effective November 1, 2022, the amount of state LIHTC does not have to be equal to the federal LITHC allocation.  The state LIHTC funding can never exceed the federal LIHTC funding allocation.

 

The Oklahoma Affordable Housing Act is subject to review every five (5) years by a committee of nine.  In practice, the Act is being reviewed by the Incentive Evaluation Commission (IEC) every four (4) years.  Thus far, the Oklahoma Affordable Housing Act has been reviewed twice by the IEC.

 

  Incentive Evaluation Commission Reports

  2022 Tax Incentive Evaluation Report

  2018 Tax Incentive Evaluation Report

 

Key highlights of the Act include:

  • Capped at $4M per year
  • 10 Year Credit
  • Non-refundable
  • May be carried forward for 2 years
  • Are assignable
  • Insurance companies may use the credits against state premium tax imposed by Section 624 or 628 of Title 36 of the Oklahoma Statutes
  • If any portion of the federal tax credits are recaptured – this will trigger recapture of the proportionate amount of the state tax credit



2023

2023 Economic Impact Report

2023 Infographic

2023 Overview 

 

2021

2021 Economic Impact Report

2021 Infographic

2021 Housing Matters

2021 Overview

 

2020

2020 Economic Impact Report

2020 Infographic

2020 Housing Matters

2020 Overview


2019

2019 Economic Impact Report

2019 Infographic

2019 Housing Matters

2019 Overview


2018

2018 Economic Impact Report

2018 Infographic




OCAH-Handout-Revised-11.21.19

OCAH-Banner-11.21.19

Housing-Matters-Tax-Credit-Projects-Handout-Revised-11.22.19

Housing-Tax-Credit-Economic-Impact-2019-1

Housing-Tax-Credit-Economic-Impact-Draft-with-amendments-9-2018



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2022 Oklahoma

Housing Conference

Join the100+ members of the Oklahoma Coalition for Affordable Housing. Active/Voting, Affiliate and Individual membership levels are available.

JOIN NOW!

Contact:

Andrea Flowers-Householter,

Executive Director

Phone: (405) 418-6224 

Email: Andrea@ocah.info



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