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Novogradac Partner, Others Address Treasury Concerning Proposed Average Income Test Regulations

Friday, March 26, 2021 - 12:00PM

Novogradac partner Thomas Stagg and 14 other speakers this week addressed a United States Department of the Treasury public hearing on low-income housing tax credit (LIHTC) average income test proposed regulations. Speakers commented on a notice of proposed rulemaking published in the Federal Register Oct. 30, 2020. Speakers included seven representatives of state housing agencies as well as other LIHTC stakeholders. Stagg, speaking on behalf of the LIHTC Working Group, addressed that the average income test should be calculated on the unit’s designation, re-designation of units and the grace period for curing noncompliance.

The proposed regulations will be among the topics at the Novogradac 2021 Affordable Housing Virtual Conference, April 29-30.

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