The Michigan State Housing Development Authority announced that the first competitive funding round for 2016 Low Income Housing Tax Credit will have an application submission deadline of 5:00 p.m., October 1, 2015. MSHDA will allocate approximately 50% of Michigan’s 2016 tax credit ceiling in the October 1, 2015 funding round. Applications for projects financed with the proceeds of tax-exempt bonds may be submitted at any time, as they are not subject to the state tax credit ceiling. However, they must follow the procedures and requirements outlined in the 2015-2016 Qualified Allocation Plan. The Application and Low Income Housing Tax Credit Addendum I are available on MSHDA’s web site at www.michigan.gov/mshda.