Accessing Tax Credits Tax credits may be accessed in one of the two following ways:
The State of Arizona holds an annual competition to distribute its annual allocation of 9% tax credits. This application round is generally held in the spring with award reservations made in the summer.
Four percent tax credits are available on a noncompetitive basis to qualified projects that have received a private activity bond allocation from the state. A separate tax credit application is required at the time of the submission of a bond application and whether or not tax credits may be provided to the project is determined through an underwriting review.