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Housing Compliance Division Updated Last Dec 23 2024 Low Income Housing Tax Credit Qualified Contract Annual Report Checklist (Properties Exiting the IRC 42 Program/Beginning Decontrol Period) Property
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How to fill out lihtc compliance manual

01
Read through the LIHTC compliance manual thoroughly to understand the requirements.
02
Familiarize yourself with the specific compliance procedures and documentation needed for LIHTC projects.
03
Ensure proper record-keeping and documentation of all tenant income and eligibility verifications.
04
Implement a system for monitoring and reporting LIHTC compliance throughout the project.
05
Train staff members on LIHTC compliance procedures and regularly review and update the manual as needed.

Who needs lihtc compliance manual?

01
Property managers
02
Developers
03
Investors
04
Government agencies
05
Non-profit organizations
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LIHTC compliance manual is a guidebook that outlines the rules and regulations for compliance with the Low-Income Housing Tax Credit program.
Property owners and managers who participate in the LIHTC program are required to file a compliance manual.
The compliance manual can be filled out by following the instructions provided by the IRS and state housing agencies.
The purpose of the compliance manual is to ensure that the LIHTC program is being implemented correctly and to prevent fraud and abuse.
The compliance manual must include information on tenant income certifications, unit inspections, and program compliance.
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