NettetCompliance period (LIHTC): Also referred to as the federal compliance period, this refers to the 15-year period during which a Low Income Housing Tax Credit (LIHTC) property must comply with federal LIHTC requirements in order to avoid recapture of the tax credits. Nettetdays of date of acquisition, the LIHTC effective date for unit 101 is Feb. 15, 2024. • Unit 201: The existing household in unit 201 moved in May 7, 2010, and was LIHTC certified on June 30, 2024. Because the tenant income certification occurred after 120 days of date of acquisition, the LIHTC effective date for unit 201 is June 30, 2024.

MSHDA LIHTC Compliance Manual Table of Contents - Michigan

Nettetmeet the definition of “Actual Consumption Submetering Arrangements” under Treas. Reg. 1-42-10(e). That said, 1.42.10(e) does not preclude a building owner from using RUBS at a LIHTC project. An owner can still use RUBS, but no utility allowance would be included when determining the gross rent; NettetEXHIBIT M (REV. 06/30/2024) LIHTC UTHORIZATION FOR RELEASE OF INFORMATION Property Name: Property Number: Applicant/Resident: Unit Number: … to heed means

What is the Low-Income Housing Tax Credit and how …

NettetIn an excerpt from the Novogradac LIHTC Property Compliance Workshop, Stephanie Naquin and Wayne Michael discuss why understanding the definition of "project... NettetLow Income Housing Tax Credit (LIHTC): A federal tax incentive that increases and preserves the existence of rental (and in some instances, rent-to-own) housing … NettetLIHTC means the low-income housing tax credit established by TRA 1986 and which is provided for in Section 42 of the Code, as amended, or any successor thereto. people seem strange when you\u0027re a stranger