Vermont Housing Finance Agency (VHFA) administers the Housing Tax Credit program in Vermont. As administrator, VHFA allocates credits to development projects in accordance with the state’s Qualified Allocation Plan (QAP) which is approved and signed by the Governor of the State of Vermont. The advisory Joint Committee on Tax Credits reviews and adopts allocation policies and reviews VHFA's performance.
Current QAP
The current QAP was approved by the VHFA Board of Commissioners in February 2023, and by the Governor in May 2023.
Questions about the current QAP can be submitted via email to Development staff, or by mail: VHFA, Attn: Community Development, 164 Saint Paul Street, Burlington VT 05402.
Draft QAP
As administrator, VHFA proposes periodic updates to the eligibility and prioritization criteria contained in the QAP. On May 11, 2026, VHFA completed the latest draft QAP which incorporates changes made as a result of the public comment period that ended April 24, 2026. The draft QAP contains updates to increase the impact of housing credits toward meeting the needs of low- and moderate-income Vermonters. It does this by emphasizing cost effective proposals for projects that are ready to proceed to construction upon receipt of an award and expanding the types of projects that can compete for funding while retaining core policy priorities from prior QAPs.
- Drafted QAP (PDF)
- Comparison of May 11, 2026 and March 24, 2026 QAP Drafts (PDF)
- Public Comments: Part 1 (PDF); Part 2 (PDF)
2026 Timeline
- March 24: Third QAP draft released and period of public comment opens.
- April 6: Public Hearing held at VHFA and remotely via Zoom. Watch 4/06 recorded hearing on YouTube.
- April 24: Deadline for public comment submissions (4:30 pm).
- May 18: Joint Committee on Tax Credits (JCTC) meet to consider QAP.
- June 23: VHFA Board considers QAP (if recommended by JCTC).
- June 24: VHFA sends QAP to Governor (if recommended by VHFA Board).
Archived Qualified Allocation Plans (PDFs)