Ohio Administrative Code
Title 175 - Ohio Housing Finance Agency
Chapter 175-8 - Low-Income Housing Tax Credit Program
Section 175-8-01 - Allocation of low-income housing tax credits

Universal Citation: OH Admin Code 175-8-01

Current through all regulations passed and filed through September 16, 2024

(A) The agency shall develop a qualified allocation plan pursuant to the mandates and requirements within section 42 of the Internal Revenue Code of 1986 as amended at least every other calendar year. The qualified allocation plan shall contain minimum project requirements and measurable selection criteria to ensure projects meet federal and state mandates and priorities. The agency shall also consider project costs in making allocation decisions.

(B) In reviewing and approving a plan, the agency shall:

(1) Make a draft of the plan available to the public for comment for at least thirty days;

(2) Hold at least one public hearing, pursuant to procedures mandated in section 42 of the Internal Revenue Code, soliciting public comment on the plan before it is final; and

(3) Submit the plan to the agency for approval at a meeting of the agency.

(C) The agency shall provide all applicants with a written response that explains the agency's decision to allocate low-income housing tax credits.

Effective: 5/19/2014
R.C. 119.032 review dates: 02/27/2014 and 05/19/2019
Promulgated Under: 119.03
Statutory Authority: 175.05
Rule Amplifies: 175.06
Prior Effective Dates: 3-19-98, 6-8-09

Disclaimer: These regulations may not be the most recent version. Ohio 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.
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