Conquer Low-Income Housing Tax Credit Compliance

Created by Amanda Lee Gross, VP of Training and Compliance Policy, the “Conquering Low-Income Housing Tax Credit (LIHTC) Compliance” is a three-day, 16.5-hour virtual course specially designed to assist affordable housing professionals in conquering LIHTC project compliance.

US Housing Consultant’s Compliance Trainer, Randy McCall, delves deep into the Low-Income Housing Tax Credit laws and regulations, while also providing real-world examples with practical application. This engaging and interactive session utilizes numerous examples and exercises to ensure attendees complete the session with a thorough comprehension of how to maintain project compliance and why it is so important to do so.

NOTE: The course reflects the regulatory changes under the Housing Oppurtunity Through Modernization Act (HOTMA) that modified eligibility determintions for the LIHTC program.

Everything You Need to Know About Tax Credit Compliance

Monitoring the entire project’s compliance is the part of LIHTC Compliance that is often the most complex and challenging to understand. For instance, Randy will review the rules around annual credit calculations, and income and rent limits, which can often be incredibly complicated. Additionally, he will review the regulations regarding working with minimum set-asides and project allocation to handling deep targets and all of the most critical reporting requirements. As well as compliance standards for household eligibility, which can be among the most vital to ensuring a property continues to meet the IRS standard.

• Calculation of earned income and income from assets, and unearned income.
• Leasing Requirements & Student Eligibility
• Handling Project Set-Asides and Eligible Basis
• Calculating Rent Limits and Handling Utility Allowances
• Learn best practices for ensuring that you are always in compliance.

Earn a Housing Credit Certified Professional (HCCP) Designation

An optional Housing Certified Certified Professional (HCCP) Exam is offered with this course for an additional fee. The HCCP exam is offered separately from the training and is open to anyone who would like to take the HCCP exam. One does not have to take the course in order to take the exam. The HCCP is a specialized designation through the National Association of Home Builders (NAHB) for developers, property managers, asset managers, and other professionals working with the Low-Income Housing Tax Credit (LIHTC) program.

Please note the HCCP Exam will be offered online.

Requirements for Achieving the HCCP Designation

Minimum of two years experience in the LIHTC industry by graduation. (Those who fail to meet this requirement may consider themselves an HCCP-Candidate until reaching two years of experience.)

• A total of 10 hours of LIHTC training
• Adherence to the HCCP Code of Ethics
• Successful completion of the HCCP Exam ($204 online fee for first-timers; $129 online fee for re-takes)

Conquering LIHTC Compliance with HCCP Certification Exam Agenda

Section 1, Part 1: Processing Applications & Certifications

1. Applications & Screening
2. Interviews
3. Occupancy Standards, Preferences & Restrictions
4. Household Size
5. Verification Requirements

Section 1, Part 2: Student Eligibility

1. Definition of Full-time Student & the Student Calendar
2. Definition of Educational Organization
3. Student Exceptions
4. HFA Requirements & Interpretations
5. Monitoring Student Status

Section 1, Part 3: Determining Asset Income

1. Introduction to Assets
2. Asset Inclusions & Exclusions
3. Imputing Asset Income
4. Disposed Assets
5. Review of Common Assets

Section 1, Part 4: Determining Income

1. Method of Determining Income
2. Overview of Income Inclusions
3. Overview of Income Exclusions
4. Earned Income Sources
5. Unearned Income Sources

Section 1, Part 5: Leasing & Certification Requirements

1. Tenant Income Certification Form
2. Lease Requirements
3. Recertification Requirements

Section 2, Part 1: Allocation Process

1. Introduction
2. Key Players
3. Application for Credits
4. Qualified Allocation Plan
5. Credit Reservation

Section 2, Part 2: Development & Lease Up

1. Placing in Service
2. Carry-over Allocation
3. Set-Aside Elections
4. Income & Rent Limits
5. Calculating & Claiming Credits

Section 2, Part 3: Ongoing Compliance Requirements

1. Available Unit Rule & Vacant Unit Rule
2. Unit Transfers
3. Record Retention
4. Compliance Monitoring
5. Non-Compliance

Section 2, Part 4: Acquisition/Rehab

1. Allocation & Calculation of Acq/Rehab Credits
2. Claiming Acq/Rehab Credits
3. Certifying Existing Households
4. Federally Funded Projects – URA
5. Resyndication

Section 2, Part 5: LIHTC Layered with Other Programs & Laws

1. LIHTC & Tax-Exempt Bonds
2. LIHTC & HOME Funds
3. LIHTC & Section 8
4. LIHTC & RD
5. LIHTC & Fair Housing/ADA

Note: Training will be conducted in accordance with HOTMA regulatons.

A Professional Training Experience

At All US Housing Consultants Workshops and Certification Courses, Attendees are guaranteed:

• Easy to Follow Printed Materials and Reference Guidebooks for in-person training classes and a PDF Training /Reference Manual for all virtual classes
• Professional Trainers with more than 10 years of experience as a trainer/speaker
• A Relaxed and Fun Training Environment