Year 15 Information

Final Regulations

Treasury Regulation 1.42-18: Qualified Contracts
​May 3, 2012

TD 9587: Final Regulations: Section 42 Qualified Contract Provisions
May 3, 2012

Summary of Final Qualified Contract Regulations
May 8, 2012
By Harold R. Berk, Esquire

Proposed Regulations

Notice of Proposed Rulemaking and Notice of Public Hearing: Section 42 Qualified Contract Provisions
June 19, 2007

Transcript of IRS Hearing on Proposed Treasury Regulation 1.42-18 Qualified Contracts
​October 15, 2007

Proposed Treasury Regulation Section 1.42-18 Qualified Contracts
October 11, 2007

Private Letter Rulings

PLR 200703024
January 19, 2007
Tenant's Right of First Refusal under § 42(i)(7)

Excerpt from Guide for Completing Form 8823: Low-Income Housing Credit Agencies Report of Noncompliance or Building Disposition

Excerpt from Section 21-4: "Building No Longer Participating in the Low-Income Housing Program"
Click here for the complete Guide for Completing Form 8823: Low-Income Housing Credit Agencies Report of Noncompliance or Building Disposition

HUD Year 15 Survey

Comment Notice

Notice of Proposed Information Collection for Public Comment: Study of Low Income Housing Tax Credit (LIHTC) Properties After 15 Years
May 11, 2010

Survey Plan

Research Design and Data Collection Plan for the Assessment of LIHTC Properties After 15 Years
​May 11, 2010

State Policies

Several state housing agencies have published policies or instructions for addressing Year 15 and qualified contract concerns. Click below to access these policies.

Alabama

Arizona

Arkansas

California

Memo: CTCAC Subordination Policy
April 29, 2014
Subordination Policy
​April 29, 2014

Colorado

Connecticut

Delaware

Florida

Georgia

Calculation Forms & Schedules 
Submission Instructions
Sample Letter for Request

Illinois

Indiana

Iowa

Kansas

Kentucky

Louisiana

Maryland

Michigan

Minnesota

Mississippi

Missouri

Nebraska

Nevada

New Hampshire

New Jersey

New Mexico

New York

North Carolina

North Dakota

Ohio

Oregon

Pennsylvania

Rhode Island

South Carolina

South Dakota

Texas

Vermont

Virginia

Washington

Wisconsin

Comment Letters

Proposed Treasury Regulation 1.42-18 Qualified Contracts

American Bar Association Section of Taxation
September 28, 2007

National Council of State Housing Agencies
September 17, 2007

Affordable Housing Tax Credit Coalition
September 17, 2007

Novogradac & Company LLP
September 17, 2007

National Housing Law Project
September 18, 2007

Arizona Department of Housing
September 7, 2007

New York State Division of Housing and Community Renewal
September 17, 2007

City of New York Department of Housing Preservation and Development
September 15, 2007

Washington State Housing Finance Commission
September 7, 200

Georgia State Trade Association of Nonprofit Developers
September 14, 2007

Yes Housing Inc.
September 28, 2007

A. J. Johnson Consulting Services Inc.
September 28, 2007

National Association of Home Builders
September 13, 200

National Low Income Housing Coalition
September 17, 2007

Requesting Guidance on Qualified Contracts 

Affordable Housing Tax Credit Coalition to to IRS Requesting Guidance on Qualified Contracts
April 30, 2007

Qualified Contract Price

Alabama Housing Finance
November 8, 2006

Indiana Housing and Community Development Authority
November 9, 2006

Oregon Housing and Community Services
November 20, 2006

South Carolina State Housing Finance and Development Authority
November 13, 2006

South Dakota Housing Development Authority
November 9, 2006

Virginia Housing Development Authority
November 2006

Washington State Housing Finance Commission
November 9, 2006

Articles

Affordable Housing Industry Gears Up for Active Year 15 LIHTC Market
By Mark O'Meara, Novogradac & Company LLP, April 2016

Options for the End: Typical Partnership Agreement Exit Provisions
By Sean Leonard, Dentons, June 2013

Limited Partner Exits Prior to Year 15
By Sean B. Leonard, Dentons, April 2013

Preparing For Year 15: Know the Landscape
By Sean B. Leonard, SNR Denton, March 2013

Thinking About Year 15 of a Low-Income Housing Tax-Credit Partnership
August 2001
By Ronald A. Shellan, Esq., Miller Nash LLP, Property Compliance Report

IRS Issues New Qualified Contract Proposed Regulations
August 2007

Year 15: Are You Ready?
June 2006
Lindsay Weiford, Staff Writer, Novogradac & Company LLP, LIHTC Monthly Report

Market Analysis Can Help Owners Weigh Options in Making Year 15 Decisions
September 2005
Brandi Day, Real Estate Analyst, The Valuation Report

Texas Agency Drafts Qualified Contract Policy
July 2005
By Alex Ruiz, Staff Writer, Novogradac & Company LLP, LIHTC Monthly Report

SDHDA Approves Y15 Plan for LIHTC Qualified Contract Process
February 2005
By Alex Ruiz, Staff Writer, Novogradac & Company LLP, LIHTC Monthly Report

Good Cause Packet Mailed to LIHTC Owners, Managers in Washington
December 2004
By Alex Ruiz, Staff Writer, Novogradac & Company LLP, Property Compliance Report

IRS Ruling Changes Generally Understood Requirements for Extended Use Agreements
September 2004
Alex Ruiz, Staff Writer, Novogradac & Company LLP, LIHTC Monthly Report

Unresolved Year 15 Issues Beg For Guidance
May 2004
By Michael J. Novogradac, CPA, Novogradac & Company LLP, LIHTC Monthly Report

Y15 Arrives for 1990 LIHTC Properties
May 2004
Jeffery W. Faile, CPA, Novogradac & Company LLP

Despite Pending Expiration, Year 15 Properties Still Hold Potential
November 2003
By Jane Bowar Zastrow, Editor, Novogradac & Company LLP, LIHTC Monthly Report

Qualified Contract - 15th Year Issues for Post-1989 Allocation Properties
May 2003
By Jerome A. Breed, Powell Goldstein Frazer & Murphy LLP, LIHTC Monthly Report

Preservation Trend Grows, Some Year-15 Concerns Linger
October 2002
By Alex Ruiz, Staff Writer, Novogradac & Company LLP