Abbott announces over $99M in Housing Tax Credits

AUSTIN — Governor Greg Abbott announced that the Texas Department of Housing and Community Affairs (TDHCA) awarded over $99 million in housing tax credits that will help finance the development or rehabilitation of 63 rental properties, offering reduced rents and increased housing options for Texans across the state. These awards will help developers construct or rehabilitate over 4,410 units offering rents affordable to households earning up to 80% of the area median family income.

“As our state continues to grow, we must ensure that Texans have access to affordable housing so they can thrive in our great state,” said Governor Abbott. “The over $99 million in housing tax credits is critical to improve and upgrade affordable housing units for Texans. Working with the Texas Department of Housing and Community Affairs, we will build a more affordable and prosperous Texas for generations.”

Investors purchasing credits allocated to developers may apply the credits toward their federal tax liability each year for 10 years on a dollar-for-dollar basis in exchange for their investment in the property.