Nevada Administrative Code
Chapter 319 - Assistance to Finance Housing
TAX CREDITS FOR LOW-INCOME HOUSING
Section 319.980 - Carryover of reserved tax credits; written request; report of compliance with certain provisions of Code; limitation on carryover
Current through December 12, 2024
1. If a final award of tax credits is not made by the end of a calendar year, any reserved amount of those credits may be carried over to the next year in accordance with the provisions of the Code and NAC 319.951 to 319.998, inclusive.
2. If an applicant wishes to carry over any reserved tax credits, the Division must receive, not later than the date set forth in the written notification of a reservation of tax credits provided to the applicant by the Division:
The Division will not grant an extension of time for the submission of the statement.
3. A project sponsor must submit a report by a certified public accountant on a form approved by the Division. The accountant must attest in the report that the tax credits carried over comply with the provisions of section 42(h)(1)(D), (E) and (F) of the Code.
4. Unless otherwise provided in the qualified allocation plan:
Added to NAC by Housing Div. by R057-97, eff. 1-15-98; A by R115-14, eff. 10/27/2015
NRS 319.145