California Tax Credit Allocation Committee (CTCAC)

Compliance Manual

• Manual Cover
• Table of Contents
• Section 1 - Introduction
• Section 2 - Responsibilities
• Section 3 - Regulations
• Section 4 - Qualifying Tenants for Low Income Housing Tax Credit (LIHTC) Units
• Section 5 - Compliance Monitoring
• Section 6 - Noncompliance
• Section 7 - Sample On-Site Audit
• Section 8 - Legislative Changes
• Section 9 - Appendices
  • Appendix 1 - LIHTC Foundations
    • 26 CFR Part 1
    • Internal Revenue Service (IRS) Code Section 42
    • Treasury Decision (TD 9420) – Utility Allowance Changes
    • Public Records Act (Government Code 6250-6270)
    • General Explanation of the Tax Reform Act of 1986
  • Appendix 2 - Handbooks and Guides
    • IRS Guide to Form 8823
      • Cover
      • Index
      • Chapter 1-1 - Introduction
      • Chapter 1-2 - Process Map
      • Chapter 1-3 - Sample Form
      • Chapter 1-4 - 8823 Noncompliance (NCL) Letter
      • Chapter 2 - Instructions
      • Chapter 3 - Guidelines for Determining NCL
      • Chapter 4 - Income Limits
      • Chapter 5 - Tenant Recertification
      • Chapter 6 - Uniform Physical Conditions Standards (UPCS) Violations
      • Chapter 7 - Annual Certifications
      • Chapter 8 - Eligible Basis
      • Chapter 9 - Applicable Percentage
      • Chapter 10 - Set Aside Requirements
      • Chapter 11 - Gross Rent
      • Chapter 12 - General Use
      • Chapter 13 - General Use - 2
      • Chapter 14 - Available Unit Rule
      • Chapter 15 - Vacant Unit Rule
      • Chapter 16 - Extended Use Agreement
      • Chapter 17 - Student Rule
      • Chapter 18 - Utilities
      • Chapter 19 - Monitoring Reviews
      • Chapter 20 - Transient Rules
      • Chapter 21 - Out of Program
      • Chapter 22 - Other Noncompliance - Nonprofits
      • Chapter 23 - Other Noncompliance
      • Chapter 24 - Dispositions
      • Chapter 25 - Miscellaneous Topics
      • Chapter 26 - Tenant Protections
    • Department of Housing and Urban Development (HUD) Handbook 4350.3 Rev. 3 (Chapter 5)
    • HUD Office Numbers for California
  • Appendix 3 - CTCAC Required Forms
    • 2010 Income Limits and Maximum Rents with Memorandum (Updated May 28, 2010)
    • Required Forms:
      • Annual Owners Certification (AOC) Instructions
      • AOC Form
      • Annual Operating Expense Report (AOE)
      • Project Ownership Profile (POP)
      • Project Status Report (PSR)
      • Tenant Income Certification (TIC)
      • Tenant Income Certification Questionnaire (TICQ)
      • Verification of Employment (VOE)
      • Under $5,000 Asset Certification
      • Certification of Zero Income
      • Child - Spousal Support Self Affidavit
      • Child - Spousal Support 3rd Party Verification
      • Student Verification
      • Student Financial Aid Verification
      • Marital Separation Status
      • Single Parent Full-time Student Self-Affidavit
      • Foster Care Verification Form
      • Tenant Household Information Form
  • Appendix 4 - IRS Revenue Rulings, Notices, and Procedures
    • IRS Revenue Ruling 1990-60 - Recapture Bonds
    • IRS Revenue Ruling 1990-89 - Guidance on Tax Credit Eligibility and Maximum Combined Annual Income of Unrelated Occupants
    • IRS Revenue Ruling 1991-38 - Answers to Frequently Asked Questions
    • IRS Revenue Ruling 1992-61 - Manager's Unit
    • IRS Revenue Ruling 1992-79 - Building Receiving 1989 and Post-1989 Credit
    • IRS Revenue Ruling 1994-57 - Change in Area Median Gross Income (AMGI)
    • IRS Revenue Ruling 1995-49 - Tenant Right of First Refusal
    • IRS Revenue Ruling 1998-47 - Tax-Exempt Bond Ruling on Assisted Living
    • IRS Revenue Ruling 2004-82
    • IRS Procedure 1994-57 - Gross Rent
    • IRS Procedure 1994-65 - Income From Assets of $5000 or Less
    • IRS Procedure 1999-11 - Alternative to Surety Bonds
    • IRS Procedure 2007-54 - Relief in Disaster Areas (Updated)
    • IRS Notice 1988-91 - Definition of a Building
    • IRS Notice 1989-6 - Utility Allowance: General Public Use
    • IRS Notice 1994-60 - Obsolete Notices
    • IRS Notice 1988-166 - Placement in Service
    • IRS Final Regulations - (TD 8520) (Carryover Allocations, General Public Use, and Utility Allowances
    • IRS Final Regulations - (TD 8731) (Section 42(d)(5) Federal Grants)
    • IRS Final Regulations - (TD 8732) (Next Available Unit Rule)
  • Appendix 5 - Internal Revenue Sample Forms
    • IRS Form 4506-T Transcript of Tax Return
    • IRS Form 8586 Low Income Housing Credit
    • IRS Form 8609 Low Income Housing Credit Allocation Certification
    • IRS Form 8611 Recapture of Low Income Housing Credit
    • IRS Form 8693 Low Income Housing Credit Disposition Bond
    • IRS Form 8823 Low Income Housing Credit Agencies Report of Noncompliance
  • Appendix 6 - NCSHA Recommended Practices
  • Appendix 7 - CTCAC Policy Memos
    • April 2004
    • July 2008
    • March 2009
    • July 2010
• Section 10 - Glossary of Terms