Housing Credit Reference Guide
This online reference guide includes links to reference materials useful for Housing Credit program administrators and the affordable housing industry.
1. Internal Revenue Code Section 42 (Housing Credit Statute)
|
Limitation on low-incoming Housing Credit allowed with respect to qualified low-income buildings receiving Housing Credit allocations from a State or local Housing Credit Agency
|
|
|
Low-Income Housing Credit
|
|
|
Waiver of Ten-Year Rule
|
|
|
Buildings financed with proceeds from a loan under an Affordable Housing Program established pursuant to section 721 of FIRREA
|
|
|
Inapplicability of Section 183: “Hobby Loss”
|
|
| IRS Regulation 1.42-5 |
Tax Credit Compliance Monitoring (Proposed Rule)
|
|
Building Qualifying for Carryover Allocations
|
|
|
Election of Appropriate Percentage Month
|
|
|
General Public Use
|
|
|
Utility Allowance
|
|
|
Provision of Services
|
|
|
Effective Dates and Transitional Rules
|
|
|
Administrative Errors and Omissions
|
|
|
Allocation Rules for Post- 1989 Ceiling Amounts
|
|
|
Available Unit Rule
|
|
|
Eligible Basis Reduced by Federal Grants
|
|
| Qualified Allocation Plan | |
| IRS Regulation 1.42-18 | Qualified Contract Provisions |
| IRS Regulation 1.42-19 | Average Income Test (Final and Temporary Regulations) |
| IRS Regulation 1.42-19 | Average Income Test (Full Federal Register document) |
2b. Most Recent Recurring Housing Credit Publications
- Low Income Housing Tax Credit Tenant Level Data
- Monthly Publication of Applicable Federal Rates
- IRS Revenue Procedure 2023-34 (2024 Housing Credit and Housing Bond Volume Caps)
- IRS Notice 2024-25 (2024 Population Figures)
- IRS Revenue Procedure 2023-32 (2023 National Pool)
- Housing Credit Income Limit Materials
- Designation of Difficult Development Areas and Qualified Census Tracts
- IRS Revenue Ruling 2021-20 (4 Percent Floor Application to Housing Credit Buildings)
- IRS Revenue Ruling 2020-4 (Income Limits Computation for Average Income Test)
- IRS Revenue Ruling 2016-29 (Allocation Rules for Post-2000 State Housing Credit Ceiling Amount)
- IRS Revenue Ruling 2008-6 (Eligible Basis Reduced By Federal Grants)
- IRS Revenue Ruling 2004-82 (Low-Income Housing Credit Q&A)
- IRS Revenue Ruling 2003-77 (Community Service Facility)
- IRS Revenue Ruling 2002-65 (Eligible basis reduced by federal grants)
- IRS Revenue Ruling 2002-9 (Inclusion of Impact Fees in Eligible Basis)
- IRS Revenue Ruling 98-49 (Effect of SRO and Shelter Plus Care Payments on Eligible Basis)
- IRS Revenue Ruling 98-47 (Tax-Exempt Bond Ruling on Assisted Living)
- IRS Revenue Ruling 97-4 (Clarification of Section 502(e)(3) Transition Relief)
- IRS Revenue Ruling 96-35 (FEMA Grants and Loans)
- IRS Revenue Ruling 95-49 (Tenant Right of First Refusal)
- IRS Revenue Ruling 94-57 (Changes in Area Median Gross Income)
- IRS Revenue Ruling 92- 61 (Treatment of Resident Manager’s Unit)
- IRS Revenue Ruling 91-38 (Low-Income Housing Credit Questions and Answers)
- IRS Revenue Ruling 90-89 (Minimum Set-Aside Requirements)
- IRS Revenue Ruling 90- 60 (Recapture Bonds)
- IRS Revenue Procedure 2024-18 (Unused Housing Credit Carryovers for 2023)
- IRS Revenue Procedure 2022-20 (Telephonic Public Hearings for Housing Credit QAPs)
- IRS Revenue Procedure 2021-43 (Extends Safe Harbors, Provides Guidance for 4 Percent Properties)
- IRS Revenue Procedure 2020-23 (Amended Partnership Returns)
- IRS Revenue Procedure 2019-45 (Procedure for Requests of Unused Housing Credit Carryover from the National Pool)
- IRS Revenue Procedure 2019-17 (General Public Use Requirements for Bond-Financed Housing Credit Properties/Preference for Veterans)
- IRS Revenue Procedure 2014-50 (Disaster Relief Guidance under Section 142 for Bond Properties and Bond-Financed Housing Credit Properties)
- IRS Revenue Procedure 2014-49 (Disaster Relief under Section 42 for Housing Credit Properties)
- IRS Revenue Procedure 2009-4 (Revised Procedures for Issuance of Ruling and Information Letters)
- IRS Revenue Procedure 2008-60 (Discontinuing a Surety Bond or Treasury Direct Account)
- IRS Revenue Procedure 2005-37 (Safe Harbor: Extended low-income housing commitments)
- IRS Revenue Procedure 2004-38 (Annual Recertification Waiver)
- IRS Revenue Procedure 2003-82 (Safe Harbor Designations: Occupant Income)
- IRS Revenue Procedure 2001-53 (Impact Fees Includable in Eligible Basis)
- IRS Revenue Procedure 99-11 (Alternative to Surety Bonds)
- IRS Revenue Procedure 96-32 (Safe Harbor Designations: Charitable Organizations)
- IRS Revenue Procedure 95-28 (Relief for Projects in Disaster Areas)
- IRS Revenue Procedure 94-65 (Documentation of Income from Assets)
- IRS Revenue Procedure 94-64 (Waiver of Annual Income Recertification)
- IRS Revenue Procedure 94-57 (Gross Rent Floor)
- IRS Notice 2022-52: (Housing Credit Coronavirus Relief Guidance Extension and Expansion)
- IRS Notice 2022-05 (Housing Credit Coronavirus Relief Guidance Extension and Expansion)
- IRS Notice 2021-45 (State Populations Residing in Qualified Disaster Zones)
- IRS Notice 2021-17 (Clarification of IRS Covid Guidance)
- IRS Notice 2021-12 (Housing Credit Coronavirus Relief Guidance Extension and Expansion)
- IRS Notice 2020-53 (Housing Credit Coronavirus Relief)
- IRS Notice 2020-23 (Taxpayer Relief for COVID-19)
- IRS Notice 2018-17 (Disaster Relief for Puerto Rico)
- IRS Notice 2016-77 (Community Revitalization Plan)
- IRS Notice 2014-15 (Treatment for States Participating in the Physical Inspections Pilot Program)
- IRS Notice 2012-18 (Physical Inspections Pilot Program)
2f. Other Housing Credit Guidance
- Audit Technique Guide IRC 42
- IRS Guide for Completing Form 8823
- Submitting Your 2021 Form 8610: A Discussion with the IRS (February 16, 2022) (HFA-only access, log into the HFA Community Group to access)
- Treasury Guidance on Low Income Housing Grants in Lieu of Tax Credits (the Exchange Program) Recapture
- Memorandum of Understanding among the Department of Treasury, the Department of Housing and Urban Development, and the Department of Justice (Fair Housing)
- HUD Handbook: Occupancy Requirements of Subsidized Multifamily Housing Programs
- IRS Form 8586: Low-Income Housing Credit
- IRS Form 8609: Low-Income Housing Credit Allocation (instructions)
- IRS Form 8609: Low-Income Housing Credit Allocation
- IRS Form 8609-A: Annual Statement for Low-Income Housing Credit (instructions)
- IRS Form 8609-A: Annual Statement for Low-Income Housing Credit
- IRS Form 8610: Annual Low-Income Housing Credit Agencies Report
- IRS Form 8610 Schedule A: Carryover Allocation of Low-income Housing Credit
- IRS Form 8611: Recapture of Low-Income Housing Credit
- IRS Form 8703: Annual Certification of a Residential Rental Project
- IRS Form 8821: Tax Information Authorization
- IRS Form 8823: Low-Income Housing Credit Agencies Report of Noncompliance or Building Disposition
- IRS Form 8823: Low-Income Housing Credit Agencies Report of Noncompliance or Building Disposition (2019 2D Barcode version)
4. NCSHA Housing Credit Allocation Agency Reference Materials
- NCSHA Recommended Practices in Housing Credit Administration (2023)
- NCSHA Matrix on IRS Regulatory Relief Available During COVID-19 Pandemic (last updated 2022)
- NCSHA Housing Credit Compliance Model Forms (2019)
5. NCSHA Correspondence Relating to the Housing Credit
- NCSHA Letter to HUD on Proposed Methodology Changes for Calculating Income Limits (February 2024)
- NCSHA Letter to Treasury, HUD, DOJ, and IRS on VAWA Enforcement Guidance (December 2023)
- NCSHA Sign-On Letter to USDA on Qualified Contracts (September 2023)
- NCSHA Sign-On Letter to HUD on Qualified Contracts (September 2023)
- NCSHA Sign-On Letter to FHFA on Qualified Contracts (July 2023)
- NCSHA Comment Letter on IRS/Treasury 2023-24 Priority Guidance Plan (June 2023)
- NCSHA Testimony: Senate Finance Committee Hearing on Tax Policy’s Role in Affordable Housing (March 2023)
- NCSHA/Novogradac LIHTC Working Group Comments on Average Income Test Temporary Regulations (December 2022)
- NCSHA Letter to Treasury on Tax Status of GSEs (October 2022)
- NCSHA Testimony: Senate Hearing on the Role of Tax Incentives in Affordable Housing (July 2022)
- NCSHA Letter to IRS and Treasury Requesting Extensions, Expansions to Housing Credit Covid-19 Relief (July 2022)
- NCSHA Sign-On Letter to Treasury on the Global Minimum Tax (April 2022)
- NCSHA Sign-On Letter to Congressional Leaders on Using Fiscal Recovery Funds with the Housing Credit (February 2022)
- NCSHA Sign-On Letter to IRS, Treasury on Average Income Test (December 2021)
- Background on Qualified Contract Problem and Solution (November 2021)
- NCSHA Letter to IRS and Treasury on Extending Housing Credit COVID-19 Relief (August 2021)
- NCSHA Comments on IRS/Treasury 2021-2022 Priority Guidance Plan (May 2021)
- NCSHA Letter to IRS, Treasury Urges Guidance on Implementing Minimum 4 Percent Rate, Disaster Housing Credits (February 2021)
- NCSHA Comments to the IRS on Form 8609 (January 2021)
- NCSHA Comment Letter on IRS Housing Credit Average Income Test Proposed Rule (December 2020)
- NCSHA Letter to IRS, Treasury on Extending and Expanding COVID-19 Housing Credit Relief (November 2020)
- NCSHA Comments on IRS’s 2020 Housing Credit Compliance Monitoring Proposed Rule (September 2020)
- NCSHA Letter to IRS and Treasury on COVID-19 Emergency Relief (March 2020)
- NCSHA Comments on Improvements to Housing Credit disaster recovery guidance (Revenue Procedures 2014-49 and 2014-50) (November 2019)
- NCSHA Comments on Treasury/IRS 2019-2020 Priority Guidance Plan (June 2019)
- NCSHA Comments on IRS Compliance Monitoring Regulations (May 2019)
- NCSHA Letter to IRS on Average Income Test Income Limits (April 2019)
- NCSHA Comments on GAO Report on Housing Credit Development Costs (September 2018)
- NCSHA Letter to IRS and Treasury on Average Income Test Guidance and Implementation (June 2018)
- NCSHA Comments on IRS Revenue Procedure 2018-17 (Concerning Disaster Relief) (April 2018)
- NCSHA Comments to the IRS and Treasury on Notice 2016-77 (Concerning Concerted Community Revitalization Plans) (February 2017)
- NCSHA Comments on Housing Credit Compliance Monitoring Regulations (May 2016)
- NCSHA Comment Letter to HUD on the Fair Housing Assessment Tool (May 2016)
- NCSHA Comment Letter to HUD on Affirmatively Furthering Fair Housing (February 2015)
- NCSHA Comments on CRA Interagency Q&As (May 2013)
- NCSHA Comments to HUD on Fair Housing Rule (September 2013)
- NCSHA Comments to the IRS on Section 42 Compliance Regulations (May 2012)
- NCSHA Comments to the IRS on Form 8823 (September 2011)
- NCSHA Comments to HUD on Federal Alignment Initiative (August 2011)
For more information about the Housing Credit, please contact Jennifer Schwartz.
