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Property Compliance News Briefs - August 2016

The California Tax Credit Allocation Committee (TCAC) released information June 21 regarding the 2015 U.S. Department of Housing and Urban Development (HUD) tenant demographic data collection. In a memo to low-income housing tax credit (LIHTC)  property owners and managers, TCAC said in 2016 it will continue to contract with Spectrum Enterprises, a compliance service provider, in its efforts  to comply with its tenant demographic data collection requirements. LIHTC property owners and managers were allowed to start submitting the 2015 tenant data to Spectrum July 5. Property owners and managers must submit data for households within a LIHTC property as of Dec. 31, 2015, to Spectrum by Aug. 31.

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Oregon Housing and Community Services (OHCS) released an updated 2016 LIHTC Program Compliance Manual in June. The manual is a guide to understanding compliance monitoring as practiced in Oregon under Section 42 of the Internal Revenue Code (IRC). The 2016 manual is available at www.taxcredithousing.com.

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The Wisconsin Housing and Economic Development Authority released an updated compliance final review checklist in June. The checklist includes items required when requesting Internal Revenue (IRS) 8609 form. The form is available at Wisconsin Housing and Economic Development Authority.

Journal Category:

Property Compliance

Authors:

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