Support Housing and Qualify for a Tax Credit
The new State Housing Tax Credit Program and Contribution Fund allows taxpayers to invest in housing across the state.
When you contribute, you support housing for all Minnesotans and can qualify for a state tax credit of 85% of your contribution!
Who can contribute?
People or businesses that pay Minnesota taxes and meet eligibility requirements can contribute.
Contributions must be at least $1,000 and cannot exceed $2 million each tax year.
What happens to my contribution?
Contributions will be used to develop and fund affordable housing throughout Minnesota.
Your contributions can go to a:
- General Contribution Pool
- Awarded to cities, federally recognized American Indian tribes, developers, nonprofits, public housing authorities and more
- Qualified Project
During the application process, you can select where you'd like your contribution to go.
How do I contribute?
To contribute to the State Housing Tax Credit Program and Contribution Fund, you must fill out an application by December 8.
If your application is accepted, you will:
- Receive an email with documents to sign
- Submit your contribution within 30 days
- All contributions must be received by December 29
- Receive a tax credit certificate
- Minnesota Housing issues within 30 days of receiving the signed documents and funds
If your application is not accepted, you will be notified with the reason why your application was declined.
How do I claim the tax credit?
You can claim the credit on your taxes by following the instructions provided with the tax credit certificate. To find the correct form and learn more, visit Minnesota Department of Revenue.
Note: Minnesota Housing does not provide tax advice and recommends consulting with a tax professional.