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 54.14 - Application Process and Administrative Fees

Universal Citation: 760 MA Code of Regs 760.54

Current through Register 1531, September 27, 2024

(1) Application. Project applicants seeking an allocation of Massachusetts low-income housing tax credit shall include a request for such credit allocation in the same application to be filed with the Department through which such proponent requests an allocation of federal low-income housing tax credit. With respect to projects described in 760 CMR 54.09(1)(b), the request for Massachusetts low-income housing tax credit shall be made in the form of a letter to the Department accompanied by:

(a) a copy of the applicant's submission to the agency providing the tax-exempt bond financing for the project; and

(b) such additional information as would be included in an application to the Department for a federal low-income housing tax credit allocation. The Department shall issue guidance describing any additional information to be included with credit requests. The Department may require that the applicant provide analyses of alternative funding scenarios that allow the Department to evaluate the comparative efficiency of allocating varying levels of federal and Massachusetts low-income housing tax credit to such proposed project.

(2) Filing Fee. Each application seeking an allocation of Massachusetts low-income housing tax credit shall be accompanied by a filing fee set by the Department which shall be payable to the Commonwealth of Massachusetts.

(3) Opinion of Counsel. Prior to approval of a credit request, the applicant shall provide an opinion of tax counsel or other documentation satisfactory to the department to verify that the donor making the qualified donation will qualify for a Federal charitable deduction based on the fair market value of the qualified donation.

Disclaimer: These regulations may not be the most recent version. Massachusetts may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.