NAHMA LIHTC Update: NCSHA Releases Updated Model Compliance Forms

• By: admin
• On: 08/28/2024 15:11:47
• In: LIHTC

NCSHA Unveils Housing Credit Model Compliance Forms
(emailed on 8/28/24)
 
Today, the National Council of State Housing Agencies released new and updated model forms for state Housing Credit Agency use in Low Income Housing Tax Credit program compliance. The model compliance forms, which include an updated Tenant Income Certification and new Asset Self Certification, reflect modifications to income determination and asset certification rules under the Housing Opportunities Through Modernization Act (HOTMA) and have been adjusted for consistency with NCSHA's most recent update to its Recommended Practices in Housing Credit Administration, released in late 2023. While the goal of the model compliance forms is to provide a level of consistency across states, state Housing Credit Agencies may choose to adopt the forms in full or adapt them to best meet their needs. This is the first update to NCSHA's model forms since 2019.
The forms are:

• Owner Certification of Continuing Program Compliance
• Tenant Income Certification (TIC) and TIC Instructions
• Asset Self-Certification and Asset Self-Certification Worksheet
• Certification of Zero Income
• Affidavit of Student Financial Assistance
• Student Status Verification
• Student Self-Certification
• Complete Set of Forms

NCSHA is grateful to Novogradac & Company LLP Director of Multifamily Property Compliance Stephanie Naquin for her assistance in the development of the model compliance forms and to the many NCSHA affiliate member compliance experts and state Housing Credit Agency compliance staff who reviewed earlier drafts and assisted in this effort. Best,
Larry
 
Larry Keys, Vice President of Government Affairs
National Affordable Housing Management Association
400 N. Columbus St., Suite 203, Alexandria, VA 22314
Phone 703-683-8630, ext.3  Email lkeys@nahma.org, Website www.nahma.org
NAHMA is the leading voice for affordable housing management, advocating on behalf of multifamily property managers and owners whose mission is to provide quality affordable housing.