Illinois Administrative Code
Title 47 - HOUSING AND COMMUNITY DEVELOPMENT
Part 350 - LOW-INCOME HOUSING TAX CREDIT ALLOCATION
Subpart B - LOW-INCOME HOUSING TAX CREDIT ALLOCATIONS
Section 350.212 - Revocation of Reservations
Universal Citation: 47 IL Admin Code ยง 350.212
Current through Register Vol. 48, No. 12, March 22, 2024
The Authority reserves the right to revoke Reservations if a Sponsor fails to place the Project in service in the calendar year for which the Tax Credits have been reserved, or fails to meet the requirements for a carryover Allocation, as set forth in Section 42, or if the Project would otherwise not comply with Section 42 and other applicable sections of the Internal Revenue Code or with this Part.
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