Housing Tax Credits definition

Housing Tax Credits means any low-income housing credits to tax allowed to the Partnership and its partners under Section 42 of the Code.
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Housing Tax Credits or “HTC” means the federal low-income housing tax credits allocated by the TDHCA acting under Section 42(h) of the Code.
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Examples of Housing Tax Credits in a sentence

  • Transfers (other than those that do not require Executive Director approval, as set forth in subsection (b) of this section) will not be approved prior to the issuance of IRS Form(s) 8609 (for Housing Tax Credits) or the completion of construction (for all Developments funded through other Department programs) unless the Development Owner can provide evidence that the need for the transfer is due to a hardship (ex.

  • A federally recognized Indian tribe located in California, or an entity established by the tribe to undertake Indian housing projects, including projects funded with federal Low Income Housing Tax Credits.

  • The 1986 Tax Reform Act created the low-income housing tax credit program under §42 of the Internal Revenue Code of 1986, as amended (together with the Treasury Regulations promulgated thereunder, the Internal Revenue Code), to encourage the private sector to invest in the construction and rehabilitation of housing for low and moderate income individuals and families by providing qualified project owners with Low-Income Housing Tax Credits (LIHTC) against their federal income tax obligations.

  • Prior to the issuance of IRS Form(s) 8609 (for Housing Tax Credits) or the completion of construction (for all Developments funded through other Department programs) an Applicant may request an amendment to its ownership structure to add Principals.

  • The guidelines make a provision for housing credit agencies to implement the subsidy layering reviews for projects that are at least receiving HUD housing assistance and are receiving or allocated Low Income Housing Tax Credits.

  • Only new construction projects and rehabilitation projects not subject to an existing Declaration of Land Use Restrictive Covenants for Low-Income Housing Tax Credits are eligible to utilize income averaging.

  • Federal Law requires MFA to develop and implement a compliance-monitoring program for completed Projects that have received Low Income Housing Tax Credits.

  • Each owner has chosen to utilize Low Income Housing Tax Credits to take advantage of the tax benefits provided.

  • Evidence of site control shall be submitted with the application for Low Income Housing Tax Credits.

  • MFA will, however, make available to the general public a written explanation of any allocation of Housing Tax Credits that is not made in accordance with established priorities and selection criteria of the agency.

Related to Housing Tax Credits

  • working tax credit means a working tax credit under section 10 of the Tax Credits Act 2002;

  • child tax credit means a child tax credit under section 8 of the Tax Credits Act 2002;

  • Qualifying tax rate means the applicable tax rate for the taxable year for the which the taxpayer paid income tax to a municipal corporation with respect to any portion of the total amount of compensation the payment of which is deferred pursuant to a nonqualified deferred compensation plan. If different tax rates applied for different taxable years, then the “qualifying tax rate” is a weighted average of those different tax rates. The weighted average shall be based upon the tax paid to the municipal corporation each year with respect to the nonqualified deferred compensation plan.

  • Tax Credits means any and all (a) investment tax credits, (b) production tax credits and (c) similar tax credits or grants under federal, state or local law relating to the construction, ownership or production of energy from the System.

  • Input Tax Credit means the credit of input tax;

  • Post-Closing Taxes means Taxes of the Company for any Post-Closing Tax Period.

  • Post-Closing Tax Period means any Tax period (or portion thereof) beginning after the Closing Date.

  • Tax Credit means a credit against, relief or remission for, or repayment of any Tax.

  • Housing Act means the United States Housing Act of 1937, as amended, or its successor.

  • Housing project means a project, or distinct portion of a

  • Income Tax Act means the Income Tax Act, 1962 (Act No. 58 of 1962);

  • Housing Provider means, with respect to a HOME Development, Local Government, consortia approved by HUD under 24 CFR Part 92, for-profit and Non-Profit Developers, and qualified CHDOs, with demonstrated capacity to construct or rehabilitate affordable housing.

  • Housing Unit means a single-family attached or detached dwelling (including without limitation a condominium or townhome), including the Lot on which such dwelling is located, for which a building permit has been issued and construction has begun and that is or will be available for sale by the Borrower or any Subsidiary Guarantor. Each “Housing Unit” is a Presold Housing Unit, a Speculative Housing Unit or a Model Housing Unit.

  • Fair Housing Act means the Fair Housing Act, as amended.

  • Housing Credit means the tax credit issued in exchange for the development of rental housing pursuant to the following:

  • Affordable Housing Unit means a rental unit in an affordable housing building that rents for an amount that is affordable to households at or below 60 percent of area median income, as median income was most recently determined by the United States Department of Housing and Urban Development for the Minneapolis- St. Paul- Bloomington, Minnesota-Wisconsin Metropolitan Statistical Area, as adjusted for household size and number of bedrooms.

  • Pre-Closing Tax Return has the meaning set forth in Section 7.1(a).

  • Affordable housing program(s means any mechanism in a municipal Fair Share Plan prepared or implemented to address a municipality’s fair share obligation.

  • Affordable Housing Units – means the Affordable Housing to be provided as part of the Development in accordance with the application and/or any subsequent reserved matters approval.

  • Housing commission means a housing commission or housing authority as defined under section 3 of the housing cooperation law, 1937 PA 293, MCL 125.603.

  • Pre-Closing Tax Periods means any and all Tax periods that end on or before the Closing Date and the portion of any Straddle Period ending at the end of day on which the Closing occurs.

  • Affordable housing project means, for purposes of this part, title fourteen of article twenty seven of the environmental conservation law and section twenty-one of the tax law only, a project that is developed for residential use or mixed residential use that must include affordable residential rental units and/or affordable home ownership units.

  • Pre-Closing Tax Returns has the meaning specified in Section 8.04(a).

  • Pre-Closing Tax Period means any Tax period ending on or before the Closing Date.

  • Housing means residential housing including dwellings and other forms of residential accommodation;

  • Supportive housing means housing with no limit on length of stay, that is occupied by the target population, and that is linked to an onsite or offsite service that assists the supportive housing resident in retaining the housing, improving his or her health status, and maximizing his or her ability to live and, when possible, work in the community.