NH&RA continues to update our state map and tracker of new 25 percent financed-by bond test policies. Several states have updates:
- New Policies: mostly 30 percent of eligible aggregate basis or maximum permanent supportable debt
- Illinois
- Kentucky
- Oregon
- Virginia
- Washington
- Policies Coming Soon
- Utah: Expected publication 4th quarter 2025
The Affordable Housing Tax Credit Coalition released recommended practices for 25 percent test implementation, offering guidance to state and local housing finance and bond allocating agencies. Recommendations include:
- Setting caps on bond allocations;
- Establishing bond recycling programs;
- Prioritizing multifamily housing uses; and
- Bifurcating 4 percent and 9 percent Housing Credit policies to ensure limited PAB resources are used efficiently and affordable housing production is scaled effectively.
