SD Housing is proposing to implement a program to issue Mortgage Credit Certificates (“MCCs”). An MCC reduces the amount of federal income tax a qualified homeowner pays by providing a non-refundable, federal tax credit during the life of a mortgage loan as long as the homeowner occupies the home as a principal residence. The total credit authority available under the MCC Program is $12,500,000.

South Dakota Housing is proposing to implement a program for Mortgage Credit Certificates (“MCCs”) in South Dakota. MCCs are a form of federal income tax credits for qualified homebuyers. No sooner than 90 days following this Notice, SD Housing may issue MCCs to qualified homebuyers.