Research requirements

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Showing 1–20 of 29 results · 22 match every term, 7 related

• federalUnited StatesLIHTC
  Gross rent for a rent-restricted unit includes the applicable utility allowance where the tenant pays a utility directlyRequirement excerpt: Where the cost of any utility for a residential rental unit is paid directly by the tenant rather than by or through the owner, the gross rent for that unit against which the section 42(g)(2) rent limit is tested includes the applicable…Read conditions and sources →
• federalUnited StatesLIHTC
  A HUD-regulated building must use the applicable HUD utility allowanceRequirement excerpt: If neither a building nor any tenant in it receives RHS housing assistance, and the rents and utility allowances of the building are regulated by HUD, the applicable utility allowance for all rent-restricted units in the building is the…Read conditions and sources →
• federalUnited StatesLIHTC
  The basis of the utility allowance must be reviewed at least once during each CALENDAR year, taking building changes and rate changes into accountRequirement excerpt: A building owner must review, at least once during each calendar year, the basis on which utility allowances have been established, and must update the applicable allowance under 1.42-10(c)(1). The review must take into account any changes…Read conditions and sources →
• federalUnited StatesLIHTC
  The utility allowance must use a permitted method and be reviewed at least annuallyRequirement excerpt: Determine each unit’s utility allowance using the applicable permitted method and review its basis at least once each calendar year. Use changed allowances for gross rents due 90 days after the change, with the method-specific agency…Read conditions and sources →
• federalUnited StatesLIHTC
  For units with project-based rental assistance, gross rent is the tenant portion plus the utility allowanceRequirement excerpt: Where a low-income unit receives a rental subsidy under Section 8 or a comparable program and the household's contribution is limited to a percentage of income, the gross rent tested under Section 42 is the amount the household pays plus…Read conditions and sources →
• federalUnited StatesLIHTC
  An owner may calculate the allowance with the HUD Utility Schedule Model on rates no older than 60 days before the 90-day periodRequirement excerpt: A building owner may calculate a utility estimate using the HUD Utility Schedule Model, which HUD publishes on the Low-Income Housing Tax Credits page of HUD USER. The utility rates entered into the model must be no older than the rates in…Read conditions and sources →
• federalUnited StatesLIHTC
  Where no branch of the hierarchy applies the default is the PHA schedule, and any estimate obtained displaces it for every similar unit in the buildingRequirement excerpt: For a rent-restricted unit that falls through 1.42-10(b)(1), (2), (3) and (4)(i), the appropriate utility allowance is the applicable PHA utility allowance. That default is displaced the moment an estimate is obtained under any of the four…Read conditions and sources →
• federalUnited StatesLIHTC
  No review or implementation is required until the building reaches 90 percent occupancy for 90 consecutive days or the end of the first credit yearRequirement excerpt: The building owner is not required to review the utility allowances, or to implement new utility allowances, until the building has achieved 90 percent occupancy for a period of 90 consecutive days or the end of the first year of the credit…Read conditions and sources →
• federalUnited StatesLIHTC
  One tenant receiving RHS rental assistance puts every rent-restricted unit in the building on the RHS allowanceRequirement excerpt: If any tenant in a building receives RHS rental assistance payments, the applicable utility allowance for all rent-restricted units in that building is the applicable RHS utility allowance -- including units occupied by tenants who receive…Read conditions and sources →
• federalUnited StatesLIHTC
  A unit occupied by a tenant with HUD rental assistance takes the PHA Section 8 Existing Housing allowanceRequirement excerpt: In a building that is neither RHS-assisted nor HUD-regulated and has no tenant receiving RHS tenant assistance, the applicable utility allowance for any rent-restricted unit occupied by a tenant receiving HUD rental assistance payments is…Read conditions and sources →
• federalUnited StatesLIHTC
  An RHS-assisted building must use the Rural Housing Service method for every rent-restricted unit in itRequirement excerpt: If a building receives assistance from the Rural Housing Service, the applicable utility allowance for ALL rent-restricted units in that building is the allowance determined under the method prescribed by RHS for the building. This holds…Read conditions and sources →
• federalUnited StatesLIHTCReview limitations
  A submetering arrangement counts as tenant-paid only if the bill reflects the unit's ACTUAL consumptionRequirement excerpt: An arrangement under which the owner buys a utility and rebills it to tenants is an actual-consumption submetering arrangement -- and so is treated as the tenant paying directly, requiring a utility allowance -- only if it has ALL of the…Read conditions and sources →
• federalUnited StatesLIHTC
  A changed allowance binds rents due 90 days after the change, and estimates must reach the agency and the tenants at the START of that periodRequirement excerpt: If the applicable utility allowance for units changes at any time during the building's extended use period, the new allowance must be used to compute gross rents of the units due 90 days after the change. The 90 days are not a grace period…Read conditions and sources →
• federalUnited StatesFiled under: PBV
  For a qualifying LIHTC unit outside a qualified census tract the cap runs off the tax credit rent, not the FMRRequirement excerpt: Where a contract unit receives a low-income housing tax credit, is not in a qualified census tract, has comparable tax credit units of the same bedroom size in the same building that carry no rental assistance other than the credit, and the…Read conditions and sources →Shared-program reference: its applicability mentions LIHTC. Open the rule to check the remaining conditions.
• federalUnited StatesLIHTC
  Gross rent for a low-income unit must not exceed 30% of the imputed income limitationRequirement excerpt: Gross rent for a low-income unit, comprising the tenant-paid rent plus the applicable utility allowance plus any non-optional charges, must not exceed 30 percent of the income limitation applicable to that unit based on an imputed household…Read conditions and sources →
• federalUnited StatesFiled under: 811 PRA
  On a credit unit, the section 42 gross rent test is applied to the tenant portion, because the PRA payment is comparable rental assistanceRequirement excerpt: Where an 811 PRA assisted unit is also a low-income unit in a project claiming the low-income housing credit, gross rent for the section 42 rent restriction does not include the Project Rental Assistance Payment: it is comparable rental…Read conditions and sources →Shared-program reference: its applicability mentions LIHTC. Open the rule to check the remaining conditions.
• federalUnited StatesLIHTC
  The submetered rate charged to tenants may not exceed the owner's own cost, or for a renewable source the highest rate the tenants would otherwise have paidRequirement excerpt: For a submetered utility purchased from or through a local utility company, the rate charged to the tenants of the unit must not exceed the rate incurred by the building owner for that utility. For a submetered utility produced from a…Read conditions and sources →
• federalUnited StatesLIHTC
  A local utility company estimate may be obtained by any interested party, including a tenant, and must be sharedRequirement excerpt: Any interested party -- a low-income tenant, the building owner, or the allocating agency -- may obtain a local utility company estimate for a unit, at any time during the building's extended use period or, where there is none, during its…Read conditions and sources →
• federalUnited StatesLIHTC
  Utility consumption estimates and their supporting data are part of the taxpayer's 1.6001-1(a) recordsRequirement excerpt: The building owner must retain any utility consumption estimates and supporting data as part of the taxpayer's records for purposes of 26 CFR 1.6001-1(a). That is a tax record-retention standard rather than a housing one: the records must…Read conditions and sources →
• federalUnited StatesLIHTCReview limitations
  A submetering administrative fee is outside gross rent only if it is computed uniformly and does not exceed $5 per month for all the unit's submetered utilitiesRequirement excerpt: A fee charged to a unit's tenants for administering an actual-consumption submetering arrangement is not gross rent for section 42(g)(2) purposes -- but only on two conditions. First, the fee must be computed in the same manner for every…Read conditions and sources →