The Internal Revenue Service (IRS) has issued final regulations that provide guidance concerning LIHTC owners’ requests to housing credit agencies to obtain a qualified contract for the acquisition of a LIHTC building. The regulation affects owners requesting a qualified contract to sell properties at the end of their extended use periods, computation of sales prices, potential buyers, and low-income housing credit agencies responsible for the administration of the LIHTC program. The Notice is effective May 3, 2012.
Click here to read the final IRS Qualified Contract rule.
