The LIHTC 101: The Basics webinar recording presents a basic overview of the Low-Income Housing Tax Credit (LIHTC) incentive, primarily as it relates to the rental property generating the tax credits at the "lower-tier" operating partnership.

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Original Air Date: February 25, 2021
Duration: 3 hours
Access to Recording Expires: February 25, 2022

Instructors

Wayne Michael, CPA, NPCC, HCCP
Principal, Senior Director of Education
Novogradac

Rita Coriasco, CPA
Technical Trainer
Novogradac

Topics Covered

• LIHTC overview
• Intro to Internal Revenue Code (IRC) Section 42 and LIHTCs
• Example tax credit calculation
• The 9 percent tax credit floor and the floating 70 percent present value rate
• The 9 percent, competitive tax credit pool and states’ QAPs
• The tax credit application
• Credit reservation
• Carryover allocation and the 10 percent test
• Typical LIHTC partnership structure
• Investor, syndicator, developer, fund, operating partnership
• Investor equity contributions and credit pricing
• Construction completion, certificates of occupancy, lease up
• Placed-in-service package, Forms 8609
• Nuances of “acq/rehab” deals and claiming tax credits
• Program rules
• “20 at 50”, “40 at 60” and average income minimum set-asides, income limits, rent limits
• Earning and claiming tax credits
• 10-year credit period, 15-year compliance period
• Noncompliance and credit recapture

Target Audience

This course is designed for those new to LIHTCs as well as for those who've worked in the industry for a few years and are looking for a refresher on how their area relates to other parts of the "big picture."

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Receiving Login Info and Handouts

Registration Rates*

Standard: $150
Nonprofit: $125
Multiple Registrants: $125/person ($110/person for nonprofits)

For questions or registration assistance, please contact us at 415-356-7960 or email [email protected]

*The standard and nonprofit registration fee for live online webinars and for webinar recordings covers a SINGLE VIEWER ONLY. If multiple persons within an organization wish to view the webinar and/or its recording (regardless of whether they view it on a single computer or multiple computers), the organization must purchase a registration for each person.