Qualified Allocation Plan (QAP)

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. 

• Current QAP (PDF)
• Current QAP Evaluation Checklist (PDF)

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 June 23, 2026, VHFA's Board reviewed the latest draft of the QAP. This draft which incorporates changes made as a result of the May 18, 2026 review by the Join Committee on Tax Credits and an extensive public engagement period that began in June 2024 and 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, June 23, 2026 (PDF) 
• Public Comments Submitted 3/24/26 - 4/24/26 (PDF): Part 1; Part 2;  Part 3; Part 4; Part 5; Part 6; Part 7
• Summary of Public Comments and VHFA Response (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).