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HUD Issues Previous Participation Review Proposed Rulemaking Supplement

Monday, May 16, 2016 - 10:45AM

The U.S. Department of Housing and Urban Development (HUD) tomorrow will publish a Federal Register notice to invite public comment on a proposed rule that would revise how HUD conducts previous-participation reviews of applicants seeking to participate in HUD's multifamily and health care programs. Syndicators and direct investors in low-income housing tax credits (LIHTCs), new markets tax credits (NMTCs), historic tax credits (HTCs) and other tax credits are excluded from the proposed rule unless they exercise day-to-day control or seek other involvement that would trigger the need for previous participation review. Comments are due 30 days after publication of the notice.

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