TAX CREDIT SPECIALIST ACTUAL QUESTIONS AND

TAX CREDIT SPECIALIST (ACTUAL / ) QUESTIONS AND

VERIFIED ANSWERS

Six Months - ---AnswersLeases for LIHTC tenancy must be

for a minimum of:

Contract rent plus utility allowances plus non-optional fees - - --AnswersRent limits for LIHTC represent Gross Rent

consisting of:

At the Owner's discretion - ---AnswersCitizenship as a tenant

eligibility requirement for LIHTC:

Unit percentage and square footage percentage - --- AnswersDetermining a building's applicable fraction consists

of a comparison between its:

100% LIHTC sites - ---AnswersThe section 42 regulations for LIHTC say that annual income recertification is not required

for:

The tenant's income increases over 140% of the current income

limit - ---AnswersThe Available Unit Rule applies when:

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Below 140% of the current income limit - ---AnswersWhen transferring between buildings at LIHTC sites, tenant income

must be:

Reasonable attempts to rent vacant LIHTC units should be made before renting vacant market units - ---AnswersOne of the two provisions included in the Vacant Unit Rule provides

that:

Section 504 of the Rehabilitation Act - ---AnswersWhich of the following Fair Housing Laws do not Apply to LIHTC?

Owner's Certification of Continuing Program Compliance - --- AnswersCompliance reporting requirements for LIHTC is at the discretion of the State Housing Agency, but the following is

not:

30 days - ---AnswersOne of the requirements for a unit to be considered qualified as low-income in order to generate tax

credits is that its building be placed in service for at least:

Taken into consideration for eligibility at all times - ---

AnswersThe students status of tenant household members is:

In a project data file - ---AnswersIt is suggested that many of

the documents discussed in this class be contained:

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