Code of Massachusetts Regulations
760 CMR - HOUSING AND LIVABLE COMMUNITIES, EXECUTIVE OFFICE OF
Title 760 CMR 54.00 - Massachusetts Low-Income Housing Tax Credit Program
Section 54.08 - Prerequisites to Claiming Credit

Universal Citation: 760 MA Code of Regs 760.54

Current through Register 1531, September 27, 2024

When Massachusetts standard LIHTC is allocated with respect to a qualified Massachusetts project, such credit may not be claimed by any taxpayer with respect to any building in such project unless and until:

(1) all buildings in such project have been placed in service; and

(2) the project has met the minimum set-aside and occupancy requirements of Section 42(g) of the Code.

Before the end of the first taxable year in which standard LIHTC is claimed, the taxpayer must record a regulatory agreement in a form prescribed by the department with respect to such project. In the case of a donation LIHTC, a regulatory agreement in a form prescribed by the department must be recorded at the time of the qualified donation.

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