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Compliance Reporting Requirements

Low-Income Housing Tax Credit Program

Overview

The Connecticut Housing Finance Authority (CHFA) monitors the compliance of developments that have received tax credits under the federal Low-Income Housing Tax Credit (LIHTC) program in the state of Connecticut.  The LIHTC program is contained within § 42 of the Internal Revenue Code (26 U.S.C. § 42) as a tax incentive program to stimulate investment in affordable housing.  In return for tax credits, developments must follow specific compliance requirements for at least 15 years.   

CHFA has contracted with Spectrum Enterprises to perform LIHTC compliance monitoring in Connecticut. Findings of noncompliance are reported to the Owner in the form of a noncompliance letter. The Owner will be allowed at least 30 days to correct instances of noncompliance.  CHFA retains the responsibility of reporting noncompliance to the IRS on IRS Form 8823.  Tax Credits can be lost or recaptured if program regulations are violated.

(Please consult the current Qualified Allocation Plan for more detailed information on LIHTC compliance.)


 

Questions? Contact Spectrum or CHFA.

For additional assistance regarding compliance, developments participating in the Low Income Housing Tax Credit (LIHTC) program are encouraged to contact Spectrum Enterprises directly.  Their website includes the Connecticut LIHTC Compliance Monitoring Manual, all required reporting forms, as well as helpful resources and links.  

For more information about LIHTC compliance policy, Owners and Management Agents may contact:  

Name:     George Rapp
Phone:     860 571-4265
Email:george.rapp@chfa.org

Mailing Address:
Connecticut Housing Finance Authority
Attn: George Rapp
999 West Street
Rocky Hill, Connecticut 06067