Home
Forms Library
FOR THE LOW INCOME HOUSING TAX CREDIT - sos arkansas

FOR THE LOW INCOME HOUSING TAX CREDIT - sos arkansas 2025

FOR THE LOW INCOME HOUSING TAX CREDIT - sos arkansas Preview on Page 1

See details

4.9 out of 5

48 votes

The document is a comprehensive Compliance Monitoring Policies and Procedures Manual for the Low Income Housing Tax Credit (LIHTC) Program, adopted by the Arkansas Development Finance Authority (ADFA). It outlines the responsibilities of owners, compliance requirements, tenant eligibility criteria, record retention policies, and procedures for monitoring compliance with federal regulations. The manual emphasizes the importance of maintaining affordable housing for low-income individuals while adhering to specific income limits and rent restrictions over a defined compliance period. It also details consequences for non-compliance and provides guidelines for combining LIHTC with other funding sources.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

How to quickly redact FOR THE LOW INCOME HOUSING TAX CREDIT - sos arkansas online

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Dochub is the best editor for changing your documents online. Adhere to this simple guideline redact FOR THE LOW INCOME HOUSING TAX CREDIT - sos arkansas in PDF format online for free:

Sign up and sign in. Create a free account, set a strong password, and go through email verification to start working on your forms.
Add a document. Click on New Document and choose the form importing option: upload FOR THE LOW INCOME HOUSING TAX CREDIT - sos arkansas from your device, the cloud, or a protected URL.
Make adjustments to the sample. Use the upper and left-side panel tools to modify FOR THE LOW INCOME HOUSING TAX CREDIT - sos arkansas. Add and customize text, images, and fillable areas, whiteout unnecessary details, highlight the important ones, and comment on your updates.
Get your documentation done. Send the form to other individuals via email, generate a link for quicker file sharing, export the sample to the cloud, or save it on your device in the current version or with Audit Trail included.

Explore all the benefits of our editor right now!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Who does the Low Income Housing Tax Credit give federal income taxes to?

The LIHTC gives investors a dollar-for-dollar reduction in their federal tax liability in exchange for providing financing to develop affordable rental housing. Investors equity contribution subsidizes low-income housing development, thus allowing some units to rent at below-market rates.

What is the low income housing tax credit program in Arkansas?

Program Details Low Income Housing Tax Credits are awarded to developers of residential rental developments for providing affordable housing units for a minimum of 30 years. The credits are redeemed annually for a term of ten years beginning with the tax year the development is placed in service.

How much does the low income housing tax credit cost?

Calculating Costs and Benefits. The Joint Committee on Taxation estimates LIHTC will cost around $13.2 billion in 2023, increasing to $15.2 billion by 2025. It is by far the largest federal program encouraging the creation of affordable rental housing for low-income households.

What is the tax credit assistance program?

The Tax Credit Assistance Program (TCAP) is a Federal housing grant program administered by HUD which assists Low Income Housing Tax Credit (LIHTC) projects funded during 2007, 2008 and 2009. The TCAP program is part of the American Recovery and Reinvestment Act which was signed by President Obama on February 17, 2009.

Who receives a tax incentive for the Low Income Housing Tax Credit Program?

The Bottom Line Developers can receive substantial tax credits for building, buying, or renovating properties intended for tenants who earn less than their areas median income. Prospective tenants seeking low-income housing must locate a property that qualifies for the tax credit and meet certain income requirements.

What is the Section 42 low income housing tax credit?

2085 (1986 Act) created the low-income housing credit under 42 of the Code. Section 42(a) provides that the amount of the low-income housing credit for any taxable year in the credit period is an amount equal to the applicable percentage of the qualified basis of each qualified low-income building.

What is the $150 tax credit in Arkansas?

Married taxpayers that meet the income thresholds for the credit that file separately on the same return may each claim a $150 credit against the tax due on the return of each spouse.

FOR THE LOW INCOME HOUSING TAX CREDIT - sos arkansas 2025

Here's how it works

How to quickly redact FOR THE LOW INCOME HOUSING TAX CREDIT - sos arkansas online

Complete this form in 5 minutes or less

Got questions?

Who does the Low Income Housing Tax Credit give federal income taxes to?

What is the low income housing tax credit program in Arkansas?

How much does the low income housing tax credit cost?

What is the tax credit assistance program?

Who receives a tax incentive for the Low Income Housing Tax Credit Program?

Complete this form in 5 minutes or less

People also ask

What is the Section 42 low income housing tax credit?

What is the $150 tax credit in Arkansas?

Related links

Try more PDF tools

FOR THE LOW INCOME HOUSING TAX CREDIT - sos arkansas 2025

Here's how it works

How to quickly redact FOR THE LOW INCOME HOUSING TAX CREDIT - sos arkansas online

Complete this form in 5 minutes or less

Got questions?

Who does the Low Income Housing Tax Credit give federal income taxes to?

What is the low income housing tax credit program in Arkansas?

How much does the low income housing tax credit cost?

What is the tax credit assistance program?

Who receives a tax incentive for the Low Income Housing Tax Credit Program?

Related Searches

Related forms

Complete this form in 5 minutes or less

People also ask

What is the Section 42 low income housing tax credit?

What is the $150 tax credit in Arkansas?

Related links

Try more PDF tools