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New Ohio Tax Credit for Multifamily and Single-Family Housing

Client Alert

With economic growth ahead, Ohio’s new biennium budget addressed an expected growing demand for housing within the state.

On July 5, 2023, Ohio Governor Mike DeWine signed the 2024-2025 state budget, which created a state low-income housing tax credit (LIHTC) to be overseen by the Ohio Housing Finance Agency (OHFA). The credit has a $100 million annual cap and will be claimed over a 10-year period by eventual recipients. The OHFA expect first reservations to be made in early 2024.

The creation of this credit comes at a time when Ohio is poised for continued economic and job development activity with the notable arrival of an Intel large chip plant in Central Ohio. With this economic growth comes increased demand for affordable housing. The credit itself is expected to be used in tandem with other offered state and federal credits to further extend development dollars and create additional units for Ohioans.

LIHTCs provide tax incentives to construct or rehabilitate affordable rental housing for low-income households. LIHTCs were first offered by the federal government in 1986, with an estimated 100,000 affordable rental units being supported through the federal program each year. While program details still need to be developed by the OHFA, the ability for developers to combine state and federal LIHTCs should incentivize development and growing the availability of affordable, low-income housing.

For questions regarding these new low-income housing tax credits or assistance in securing these credits, please do not hesitate to contact BMD Member Jason Butterworth at jabutterworth@bmdllc.com or Attorney Jacob Davis at jrdavis@bmdllc.com.


LGBTQIA+ Patients and Discrimination in Healthcare

In early April, the Kaiser Family Foundation released a study outlining the challenges that LGBT adults face in the United States related to healthcare. According to the study, LGBT patients are “twice as likely as non-LGBT adults to report negative experiences while receiving health care in the last three years, including being treated unfairly or with disrespect (33% v. 15%) or having at least one of several other negative experiences with a provider (61% v. 31%), including a provider assuming something about them without asking, suggesting they were personally to blame for a health problem, ignoring a direct request or question, or refusing to prescribe needed pain medication.”

Ohio Recovery Housing Overhaul: New Standards and Certification Requirements Reshape Sober Living Spaces

Ensuring Fair Access: SB 269 Protects Affordable Medication for Low-Income Patients

SB 269, introduced on December 19, 2023, will ensure that 340B covered entities, including Federally Qualified Health Centers, Ryan White Clinics, disproportionate share hospitals, and Title X clinics, can acquire 340B drugs without facing undue restrictions or discriminatory practices from drug manufacturers and distributors. This protection is crucial for 340B covered entities to continue to provide affordable medications and comprehensive services to low-income patients.

Unveiling Ohio's Pharmacy Board Updates for Distributors, Mobile Clinics, and Controlled Substances

The Ohio Board of Pharmacy will hold a public hearing on May 28, 2024, to discuss several proposed changes and additions to Ohio Administrative Code (OAC). These changes pertain to terminal distributors of dangerous drugs (TDDDs), mobile clinics or medication units, and the classification of controlled substances.

House Bill 249: Key Updates to Involuntary Hospitalization Law for Mental Health Providers

House Bill 249 (HB 249) proposes changes to Ohio Revised Code (ORC) Sections 5122.01 and 5122.10 to expand the conditions under which a person with a mental illness can be involuntarily hospitalized.