What is the MN Affordable Housing Tax Credit (AHTC)

Passed by the Minnesota legislature in 2021 the AHTC is a new housing tool invests $10 million annually to affordable and workforce housing. The tax credit will go into effect in 2023. It is the only new and on-going investment in housing development from this legislative biennium. MHP led the effort to enact this program and we want to ensure that as Minnesota Housing designs a program that works.

Collateral

• View MHP’s One-pager prepared for the 2021 legislative session: Linked Here
• View a description of the AHTC law: Linked Here

Webinar

MHP hosted a virtual learning opportunity on the new MN Affordable Housing Tax Credit (AHTC) on Thursday, July 14, 2022. This webinar helped inform comments MHP prepares for Minnesota Housing. We heard from the bill’s chief author Senator Carla Nelson, Jennifer Henderson the Planning and Housing Development Director from North Dakota Housing Finance Agency, which ran a similar tax credit contribution style program, and Dan Madler from Beyond Shelter who developed multiple projects with ND’s program.