Low-Income Housing Tax Credit:

Compliance

Authoritative Sources

Internal Revenue Code Section 42

Treasury Regulations §1.42

Tenant Selection (HUD 4530.3, Chapter 2)

Income and Asset Determination (HUD 4350.3, Chapter 3)

Income and Assets - Included and Excluded (HUD 4350.3, Chapter 5)

Verification Requirements and Procedures (HUD 4350.3, Chapter 5)

Acceptable Forms of Verification (HUD 4350.3, Appendix 3)

Recommended Practices in Compliance Monitoring, Capital Needs Assessments, Operating Cost Databases, and Accountant Opinion Letters

Security Deposits (HUD 4350.3, Chapter 4)

Rectifying Improper or Inaccurate Information (HUD 4350.3, Chapter 5)

Termination of Tenancy (HUD 4350.3, Chapter 4)

Discriminatory Conduct Under the Fair Housing Act (24 CFR, Part 100)

Guide for Completing Form 8823: Low-Income Housing Credit Agencies Report of Noncompliance or Building Disposition (October 2009)

State Tax Credit Compliance Links

Rent

Gross Rent Floor (Revenue Procedure 94-57)

Election for Number of Bedrooms for Gross Rent Limitation (Revenue Procedure 94-9)

SSI Payments Excluded From Rent (PLR 9526009)

HUD Notice Calculating Section 8 Rents (PIH 2003-32)

HUD Notice Calculating Section 8 Rents (PIH 2003-22)

Safe Harbor to Comply with Eviction and Rent Increase Restrictions in LIHTC Extended Use Commitments (Revenue Procedure 2005-37)

Income and Assets

Decrease in Area Median Gross Income (Revenue Ruling 94-57)

Combined Income of Occupants Counted (Revenue Ruling 90-89)

Income Determination Follows Section 8 of U.S. Housing Act of 1937 (IRS Notice 88-80)

Assets Documentation (Revenue Procedure 94-65)

Calculating Income Limits (Revenue Ruling 89-24)

Safe Harbor for over income tenants during first year of the credit period (Revenue Procedure 2003-82)

Novogradac & Company LLP's Rent & Income Limit Calculator

Fees & Services

Fees for Meal (PLR 8921035)

Fees for Optional Services (PLR 8920003)

Services (IRS Notice 89-6)

Elderly Population Restriction and Meals (PLR 8945036)

Services for Homeless (PLR 9814006)

Assistance Living Facilities Defined (PLR 9740007)

Home Health Care Services Option (PLR 8945036)

Home Health Care Services Option (PLR 8944042)

Community Service Facility (Revenue Ruling 2003-77)

Utility Allowance

Utility Allowance Requirements (IRS Notice 89-6)

Utilities Paid by Tenant of Submetered Rent-Restricted Units (IRS Notice 2009-44)

Recordkeeping

Compliance Monitoring Requirements (IRS Final Regulation TD 8430)

Assignment of Building Identification Number (IRS Notice 88-91)

General

Extended Use Agreement for Allocations Prior to 1990 (Revenue Ruling 92-79)

Long Term Commitment to Low Income Housing (Revenue Ruling 95-49)

Recapture Bond Requirements (Revenue Ruling 90-60)

Targeted Population Restriction (PLR 8944042)

Manager's Unit (Revenue Ruling 92-61)

Manager Unit and Application Fees in Rent (PLR 9330013)

Security Officer Unit (PLR 9538015)

Answers to 12 Questions (Revenue Ruling 91-38)

General Public Use (IRS Notice 89-6)

Community Building (PLR 9822026)

Acq/Rehab of a Residential Rental Property (PLR 200044020)

Memorandum of Understanding Between IRS, HUD, and DOJ

Answering 12 Questions about LIHTC (Revenue Ruling 2004-82)

Available Unit Rule (CCAM 200137028)

IRS LIHTC Newsletters

SBSE Memo For Examiners Assigned Low-Income Housing Credit Cases Regarding Noncompliance Resulting from Conflicting Program Requirements

Exceptions

Relief for Projects in Disaster Areas (Revenue Procedure 2007-54)

Earthquake Relief for Compliance Monitoring (IRS Notice 94-94)

Issues Arising when Qualified Low-Income Buildings are Damaged By Casualty (CCA 200913012)