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Housing Tax Credits

The Low-Income Housing Tax Credit (HTC) Program is a financing program for qualified residential rental properties. The HTC program offers investors a 10-year reduction in tax liability in exchange for capital to build eligible affordable rental housing units in new construction, rehabilitation or acquisition with rehabilitation.

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Housing Tax Credit Extensions During COVID-19

Thank you for your partnership and dedication to providing rental homes that are affordable to those that need it most during COVID-19. Read this eNews for more information about Housing Tax Credit extensions that can requested by eligible projects.

2023 HTC Round 2 is Closed

The application period for Round 2 of the 2023 Housing Tax Credit (HTC) Program as closed.  Allocation recommendations from this round will be presented to the Board of Directors in May 2023.  All decisions will be posted on the multifamily funding selections webpage. Contact the Housing Tax Credit team with questions at htc.mhfa@state.mn.us.

2024-2025 Housing Tax Credit Qualified Allocation Plan (QAP)

The Housing Tax Credit (HTC) Qualified Allocation Plan, Methodology Guide, and Self-Scoring Worksheet set the overall funding priorities for Minnesota Housing’s annual Consolidated Request for Proposals (Consolidated RFP) and all HTC Rounds.  These documents have been reviewed and approved by the Minnesota Housing board, and Governor Tim Walz.

Apply for Housing Tax Credits

The 9% HTCs are allocated twice per year through a competitive process:
  • During Round 1, known as the annual Consolidated Request For Proposal (RFP), when much of our other funding is also available, and
  • During Round 2.
The 4% HTCs are also available year-round. 

Applicants must apply for HTCs using our Multifamily Customer Portal. Some of the documents are listed for reference on the Application Resources webpage.

To receive notification of application updates and reminders, sign up for our eNews list.

Additional HTC Application Reference Materials

Other HTC Information

Changes in Ownership or Proposed Development

Minnesota Housing strongly discourages the transfer of ownership or any material project or building design changes for developments that have been awarded tax credits. Any unapproved transfers or changes could be penalized by the complete or partial loss of tax credits as well as the assessment of penalty points. If an owner wishes to change or transfer ownership, contact Minnesota Housing’s Request for Action (RFA) team for more information. To contact the RFA team, visit the Servicing Requests webpage.