The Affordable Housing Tax Credit Coalition [main graphic] A group of developers, syndicators, lenders, nonprofit groups, public agencies, and others concerned with the low-income housing tax credit.
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AHTCC Requests Guidance on the Housing and Economic Recovery Act of 2008 from IRS

September 11, 2008

On Thursday, September 11, the Coalition submitted the below-attached required for Guidance under the Housing and Economic Recovery Act of 2008 to the Internal Revenue Service.

The letter requested guidance on several issues including:

  • Determination of Credit Rate
  • Modifications of Eligible Basis
  • Clarification of the Treatment of Federal Grants
  • Exception to the 10-Year Nonacquisition Period of Existing Buildings Applicable to Federally- or State-Assisted Buildings
  • Repeal of the Recapture Bond Provision

The Coalition was joined on the letter by 12 other industry groups.

For more information on this request for guidance please contact Coalition legal counsel Richard S. Goldstein at 202-585-5000 or rgoldstein@nixonpeabody.com

 

 



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