Illinois Administrative Code
Title 47 - HOUSING AND COMMUNITY DEVELOPMENT
Part 355 - ILLINOIS AFFORDABLE HOUSING TAX CREDIT PROGRAM
Subpart C - DONATIONS
Section 355.308 - Limitation on Donations
Universal Citation: 47 IL Admin Code ยง 355.308
Current through Register Vol. 48, No. 12, March 22, 2024
Funds used by a prospective Donor to acquire an ownership interest in an Affordable Housing Project shall not qualify as a Donation. Donations may not take place prior to 3 years before the Initial Closing Date unless otherwise approved by the allocating Agency in the Agency's discretion.
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