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HUD REDEFINES EFFECTIVE DATE FOR QCTS AND DDAS

Tuesday, March 6, 2007 - 7:45AM

In a notice published in today’s Federal Register, the U.S. Department of Housing and Urban Development (HUD) revises the definition of “effective date” in a September 28, 2006 notice designating difficult development areas (DDAs) and qualified census tracts (QCTs) for purposes of the low-income housing tax credit (LIHTC) under Section 42 of the Internal Revenue Code. The notice establishes a definition of “multiphase” LIHTC developments and specifies how effective dates in notices designating DDAs and QCTs are to be applied to such developments, particularly when DDA or QCT designations change between phases. Click here for more information.

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