Code of Maine Rules
99 - INDEPENDENT AGENCIES
346 - MAINE STATE HOUSING AUTHORITY
Chapter 35 - STATE LOW INCOME HOUSING TAX CREDIT RULE
Section 346-35-5 - Allocation of Credit
Universal Citation: 99 ME Code Rules ยง 346-35-5
Current through 2024-13, March 27, 2024
a. MaineHousing will issue an Allocation of Credit Certification for a Qualified Maine Project after:
i. MaineHousing issues a Form 8609 for
the Federal Low Income Housing Tax Credit; and
ii. A restrictive covenant meeting the
requirements of the State Low Income Housing Tax Credit Law and this rule is
executed by the Owner and MaineHousing and recorded in the appropriate registry
of deeds.
b. MaineHousing will issue an Allocation of Credit Certification for a Qualified Rural Development Preservation Project after:
i.
receipt of a notice of final inspection from the Rural Development State
Director;
ii. Calculation by
MaineHousing of the amount of State Low Income Housing Tax Credit to be awarded
to the Qualified Rural Development Preservation Project; and
iii. A restrictive covenant meeting the
requirements of the State Low Income Housing Tax Credit Law and this rule is
executed by the Owner and MaineHousing and recorded in the appropriate registry
of deeds.
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