Under the federal LIHTC program established by §42 of the Internal Revenue Code, Virginia receives a per capita dollar amount of federal income tax credits to be allocated each calendar year to qualified housing developments to reduce development costs and enable landlords to charge rents affordable for households with income below 60 percent of area median. Currently, the LIHTC program is the federal government’s primary means for assisting the development of affordable rental housing.

VHDA administers the LIHTC program on behalf of the Commonwealth. Pursuant to the requirements of §42 of the Internal Revenue Code, we develop a Qualified Allocation Plan (QAP) to govern the distribution of available tax credits to eligible developments. The QAP sets the policy parameters for the geographic distribution of tax credits and the characteristics of the rental developments to which they are allocated.

 Low-Income Housing Tax Credit Qualified Allocation Plan (QAP)