A perfect way to learn the complex compliance requirements of the Low Income Housing Tax Credit Program with a specific focus on the Iowa Finance Authority’s (IFA) interpretations & procedural requirements. Fully approved by IFA.
The Low Income Housing Tax Credit Program and its compliance requirements are complex. In this 3 hour introductory course, Elizabeth will provide even the greenest of green staff a general overview and a glimpse at the site-level eligibility requirements of this program commonly BUT CENTERED AROUND the specific compliance requirements mandated by the Iowa Finance Authority (IFA).
Fully approved by IFA.
Broken into 5 sections, Elizabeth provides…
- A general overview of how the program works and a bit of history so you can understand how the program has come to be what it is today. During this overview, she will explain IFA viewpoint including what compliance is including the ramifications of being in noncompliance.
- An explanation on the eligibility rules including income eligibility, full-time students and other special household member rules including IFA specific requirements.
- A view into how IFA wants eligibility verified and documented including the specific forms they require.
- An examination into the income calculations used in the income eligibility determination.
- A review of the Tax Credit Program’s special rules but with an IFA-interpretation focus.
- A discussion on IFA’s reporting requirements and an overview of its Certification On Line (COL) Reporting System.
This course is important for any person working on a
Tax Credit property in Iowa!