Presenters: Thomas G. Faulkner, III, D.Min., Owner, Koinonia Communities, LLC; & Ken Harvin, MS, Nonprofit Management, Program Associate/Rural Prosperity Coordinator, SCACED (South Carolina Assocation for Community Economic Development)

The South Carolina Workforce and Senior Affordable Housing Act (H.B. 3998) was signed into law by Governor Henry McMaster on May 14, 2020, creating a South Carolina state low-income housing tax credit (LIHTC). This legislation creates a state tax credit equal to the amount of the federal LIHTC received by a taxpayer for properties placed in service between Jan. 1, 2020, and Dec. 31, 2030. This training will provide a brief overview of how the federal LIHTC works, discuss the newly passed state tax credit, and steps organizations need to take to use these invaluable resources in future development projects.