Four Rules for Claiming Extra Credits After Building’s Applicable Fraction Increases

Four Rules for Claiming Extra Credits After Building’s Applicable Fraction Increases



Sometimes tax credit site owners aren’t entitled to claim all the credits they were allocated for a building. This happens when owners don’t lease up as many units to qualified low-income households as they must in the first year of the building’s compliance period. As a result, the building’s first-year “fraction,” which reflects the percentage of the building that’s leased to qualified low-income households, falls short of the target.

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