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Our Business is Notice OF NONRENEWABLE OF LEASE (SECTION 42 LIH TC)TO: (Tenant in Possession) (Premises: Street Address, Apt #) (Premises: City, State, Zip Code’Re:Notice of Nonrenewable of Lease
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Section 42 - LIHTC refers to the Low-Income Housing Tax Credit program under Section 42 of the Internal Revenue Code.
Developers and owners of low-income housing properties are required to file section 42 - LIHTC.
Section 42 - LIHTC must be filled out accurately with detailed information about the low-income housing property and how it meets the requirements of the program.
The purpose of section 42 - LIHTC is to incentivize the development of affordable housing for low-income individuals and families.
Information such as the total number of low-income units, income restrictions for tenants, and compliance with program rules must be reported on section 42 - LIHTC.
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