Do you or your company have a Minnesota tax liability? You can turn that debt into a tax credit and support Habitat for Humanity of Douglas County to build more homes in our county.
Act fast! December 6 is the last day to sign up in 2024.
If you would like to take advantage of this tax credit program yet this year, be sure to make your contribution before 5:00 pm on December 6, 2024.
This program is in the second year of its six-year plan. While contributions for 2024 end on December 6, 2024, the program will re-open in 2025.
What is the Minnesota State Housing Tax Credit Contribution Program (SHTC)?
The Minnesota legislature passed a bill to incentivize taxpayers to support affordable housing projects. Eligible Minnesota corporate and individual taxpayers can contribute to the SHTC Program fund, and, in return, receive a state Tax Credit Certificate (TCC) that equals 85% of their total contributions.
What is the minimum and maximum contribution?
The required minimum contribution is $1,000 with a maximum of $2 million per taxable year.
When can I make a contribution?
Act now to take advantage of this fund. The program is limited to granting $9.9 million in 2024. Once the credits are claimed, it will be closed for the remainder of the year. Funds are first-come, first-serve.
How do I make a contribution?
To contribute to the funds and receive your tax credit, follow these steps:
- Select one of these links to view our qualified projects.
- Click "Contribute to this project." The online State Housing Tax Credit Contribution Application will open.
- Complete the online application with each required field, as applicable.
- In the Contribution Information section, select "Specific Qualified Project" and enter the following:
- Name of project: Alexandria Home – Legends Build or Alexandria Home – Cardinal Build
- Type of project: Homeownership
- Developer/Owner/Administrator Name: Habitat for Humanity of Douglas County
- Contact telephone number: 320-762-4255
- Contact email address: lori@hfhdouglascounty.org
- Submit the form and your contribution to Minnesota Housing within 30 days to receive the tax credit certificate. You will not receive a confirmation email after submission. All signed documents and funds need to be submitted by 3:00 pm on December 31, 2024.
Act now if you would like to take advantage of this opportunity.
Contact Lori Anderson with any questions at 320-762-4255 or lori@hfhdouglascounty.org
To learn more, visit https://mnhousing.gov/shtc-contribution.html
