Texas Governor Greg Abbott (R) recently signed H.B. 1058, which creates a $25 million State LIHTC for up to the amount of Federal LIHTC allocation amount for each property. The bill will take effect on Jan. 1, 2024, and will evenly split the credit between properties receiving nine and four percent LIHTCs. The credits will be eligible to claim in tax reports originally due on or after Jan. 1, 2026. The state credit has a sunset date of Dec. 31, 2029.