Housing Authority Clarifies When to Use a TIC Form

August 3, 2009
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After monitors in Indiana found confusion among property managers and owners on when it was necessary to fill out a tax credit Tenant Income Certification (TIC) form, the Housing & Community Development Authority (IHCDA) in that state issued a notice explaining how and when to use the form. Following are some excerpts.

The housing authority expects every tax credit household file to have a tax credit TIC form, whether or not that household is also receiving assistance through other government programs (e.g., RD). HUD 50058 and 50059 forms and similar RD income certification forms do not replace the need for a TIC form. That means that any unit under multiple programs may need to have multiple signed tenant income certifications in their file to demonstrate compliance with each program. The IHCDA cites several reasons for this:

  1. The TIC contains tax credit exclusive information that is not included on these other forms, such as the BIN number, the tax credit rent and income limits for the unit, tax credit student status information for the household, etc.
  2. The tax credit program does not round income as may be the case with other programs. Annual household income reflected on the TIC should not be rounded.
  3. The tax credit program does not move the effective date of a certification up to the first of the month or the first of the next month. Instead, the effective date of the move-in certification is the date that the household actually moves into the unit, and the effective date of the annual recertification is the anniversary date of the move-in date.

EXAMPLE: A household moves into a unit on June 15, 2009. The first recertification has an effective date of 15, 2010.

For more information, go to http://ihcda.in.gov.