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CPE: 1.24 Novogradac Average Income Set-Aside Webinar: Where are we now?





Novogradac is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website:

Instructional delivery method: Group internet

Learning objectives: 

  • Recall the rules of the average income test minimum set-aside as outlined in Internal Revenue Code Section 42
  • Differentiate between major interpretations of how the set-aside may not be met at a project level
  • Identify the major questions associated with what it means to “designate” units
  • Identify challenges presented during initial lease-up as well as by private activity bonds, mixed-income projects, and re-syndication
  • Identify differences in how various state allocating agencies are implementing the average income test

Level: Intermediate

Prerequisites: A basic understanding of the low-income housing tax credit program

Preparation required: None

Recommended field of study: Specialized knowledge

Recommended Credit Hours: 2

In accordance with the standards of the National Registry of CPE Sponsors, CPE credits for this course are based on a 50-minute hour group-internet based instructional method.

Note: Multiple paid registrants within an organization may choose to watch the webinar on one screen. In situations where small groups view a webinar, for multiple members of the group to claim CPE credit it is not necessary for the individuals in the group to respond to polling questions individually. The person logged into the program may respond to the polling on behalf of the group; however, the monitoring of the active participation of the individuals in the small group will be documented and verified by the small group administrator.

If you are watching the webinar in a group and wish to be eligible to claim CPE credit for multiple members of the group, please print and fill out the Small Group Sign-in Sheet and submit it to [email protected].

Policy for addressing concerns or issues with Continuing Professional Education delivered by Novogradac & Company 

Please address any questions or concerns regarding CPE at Novogradac & Company workshops, webinars or on-demand courses to the Events Desk at 415-356-7970 or [email protected].

Unresolved issues or concerns regarding registered CPE sponsors may be reported to the National Registry of CPE Sponsors and submitted online at

Note also that although recordings of most webinars are available for purchase, unless specifically stated, CPE is NOT available for webinar recordings.

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