NCSHA Releases Updated Housing Credit Compliance Best Practice Forms

On October 4, NCSHA published their updated Best Practice forms for the Housing Credit Program. These were revamped with the help of several state agencies and compliance experts. The revamped forms include:

  • Owners Certificate of Continuing Program Compliance
  • Tenant Income Certification (TIC)
  • Employment Verification
  • Certificate of Zero Income
  • Under $5000 Asset Certification
  • Student Self-Certification
  • Student Status and Financial Aid Verification

Both the Owner’s Certificate and the TIC address the new income averaging minimum set-aside election. NCSHA encourages state agencies to adopt these model forms to help standardize compliance across states, however, the use of these model forms is not mandatory.

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